8th Edition

Contemporary Economics
An Applications Approach

ISBN 9781138652194
Published September 22, 2016 by Routledge
498 Pages 71 B/W Illustrations

USD $62.95

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Book Description

The 8th Edition of Contemporary Economics continues to offer a clear, concise presentation of basic micro- and macroeconomic theory. Emphasising how the discipline of economics connects to the world, the book takes a friendly and accessible tone, illustrating theory with applications.

This new edition comes with updated applications and data to reflect the changing world events since the previous edition was published. With a vast range of updated applications, the handbook uses real world, globally relevant examples that make the subject easy to understand. New and updated topics include:

  • Energy and oil
  • Economic sanctions on Russia and Iran
  • The Eurozone Crisis
  • The Trans-Pacific Partnership
  • China and the world currency market

Including a Companion Website complete with instructor’s manual, lecture slides and test bank, as well as an online study guide and multiple choice questions for students, Contemporary Economics is suitable for both economics students and non-majors studying economics and economic issues at the introductory level.

Table of Contents

Table of Contents

Part 1: Introduction

Chapter 1 Scarcity and Choice

Part 2: The Microeconomy

Chapter 2 Market Transactions: Demand and Supply Analysis

Chapter 3 Demand and Supply Applications

Chapter 4 Production and the Costs of Production

Chapter 5 Competition and Monopoly: Virtues and Vices

Chapter 6 Imperfect Competition

Chapter 7 Labor Markets

Chapter 8 Government and Markets

Part 3: The Macroeconomy

Chapter 9 The Mixed Economy of the United States

Chapter 10 Gross Domestic Product and Economic Growth

Chapter 11 The Business Cycle, Unemployment, and Inflation

Chapter 12 Macroeconomic Instability: Aggregate Demand and Aggregate Supply

Chapter 13 Fiscal Policy and the Federal Budget

Chapter 14 Money and the Banking System

Chapter 15 The Federal Reserve and Monetary Policy

Part 4: The International Economy

Chapter 16 International Trade and the Global Economy

Chapter 17 International Finance

Chapter 18 Economic Systems and Developing Countries

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Robert Carbaugh is Professor of Economics at Central Washington University, USA.


‘For introductory economics, my students have always done their best work when the text offers current and lively references to applied topics that explain how our theoretical models work. Professor Carbaugh offers clear and balanced explanations of theory that are illuminated by fresh contemporary examples. Carbaugh has a gift for writing that is engaging, and he uses language that makes the subject accessible to the greenest of readers. The graphics in this book are similarly clear and attractive. This text will continue to produce deep learning for students who are taking their first steps to explore the ways economists consider the world around us.’ – Laurence Malone, Professor of Economics, Hartwick College, USA