Sixth Edition for two-semester Principles of Economics courses. Demonstrates economics' relevance through real-world business examples. Updated with latest developments using new business and policy examples
Textbook designed for two-semester economics courses. Reviewed as one of the best economics texts by Case/Fair/Oster. Provides basic understanding of market economies and their workings. Includes latest research and exercises for economic thinking
Labour economics studies wage labour markets and their dynamics. Labour is a commodity supplied by workers in exchange for wages. Labour markets function through interaction of workers and employers. Labour cannot be separated from its owner
AD-AS model explains national income determination in economy. AD includes domestic and overseas demand minus imports. AS represents total production and supply by economy's firms
GDP per capita measures country's economic output per person. Calculated by dividing GDP by population. Used by economists to assess country prosperity
Microeconomics studies individual and business decisions, focusing on supply and demand. Macroeconomics analyzes country and government decisions, taking a top-down approach. Both fields are interdependent and complement each other