xxix, 802 pages : 28 cm This 12th edition reflects current market conditions, helping students apply principles to the world around them. You'll find analysis and explanation of measures of economic activity applied to today's market, plus text highlighting the lives and contributions of notable economists. Common economic myths are dispelled, and the "invisible hand" metaphor is applied to economic theory, demonstrating how it works to stimulate the economy. This edition includes new technology features such as 'John Stossel in the Classroom', using his '20/20' segments to spark thoughtful, curriculum-driven class discussions; a robust set of online multimedia learning tools designed to support your classroom work; CengageNow, an online product giving students a personalized learning path based on their individual strengths and weaknesses. Includes graded homework assignments; a dynamic, graphic and interactive PowerPoint presentation--considered by many to be the best in the principles market--designed to enhance your teaching and facilitate learning "International Student Edition"--Cover Includes bibliographical references and index PART 1: THE ECONOMIC WAY OF THINKING. 1. The Economic Approach -- 2. Some Tools of the Economist --- PART 2: MARKETS AND GOVERNMENT. 3. Supply, Demand, and the Market Process -- 4. Supply and Demand: Applications and Extensions -- 5. Difficult Cases for the Market and the Role of Government -- 6. The Economics of Collective Decision Making --- PART 3: CORE MACROECONOMICS. 7. Taking the Nation's Economic Pulse -- 8. Economic Fluctuations, Unemployment, and Inflation -- 9. An Introduction to Basic Macroeconomic Markets -- 10. Economic Instability -- 11. Fiscal Policy -- 12. Money and the Banking System -- 13. Modern Macroeconomics: The Monetary System -- 14. Stabilization Policy, Output, and Employment -- 15. Creating an Environment for Growth and Prosperity -- 16. Institutions, Policies, and Cross-Country Differences in Income and Growth --- PART 4: INTERNATIONAL ECONOMICS. 17. Gaining from International Trade -- 18. International Finance and the Foreign Exchange Market (macro split only) --- PART 5: CORE MICROECONOMICS. 19. Consumer Demand and Elasticity -- 20. Costs and the Supply of Goods -- 21. Price Takers and the Competitive Process -- 22. Price-Searcher Markets with Low Entry Barriers -- 23. Price-Searcher Markets with High Entry Barriers -- 24. The Supply of and Demand for Productive Resources -- 25. Earnings, Productivity, and the Job Market -- 26. Investment, the Capital Market, and the Wealth of Nations -- 27. Income Inequality and Poverty --- PART 6: APPLYING THE BASICS. SPECIAL TOPICS. SPECIAL TOPICS