Principles of Economics Asia-Pacific Edition,
7th Edition

Joshua Gans, Stephen King, Robin Stonecash, Martin Byford, Jan Libich, Gregory Mankiw

ISBN-13: 9780170382656 | ISBN-10: 0170382656

Copyright 2018

| Published 2017

| 964 pages

List Price USD $120.00


Principles of Economics 7th edition combines microeconomics and macroeconomics into one volume for students who take a full year’s course. The latest edition of this text continues to focus on important concepts and analyses necessary for students in an introductory economics course. In keeping with the authors’ philosophy of showing students the power of economic tools and the importance of economic ideas, this edition pays careful attention to regional and global policies and economic issues – such as climate change and resource taxation, the impacts of the ongoing global financial crisis, inflation, unemployment, interest rates, monetary and fiscal policy.

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Meet the Authors

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Joshua Gans holds the Skoll Chair in Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto; he was previously Professor of Management (information Economics) at the Melbourne Business School. He studied economics at the University of Queensland and Stanford University. He currently teaches network and digital marketing strategy, but prior to his relocation to Canada he taught introductory economics and incentive theory to MBA students.

Dr Stephen P King joined the Productivity Commission as a Commissioner from 1 July 2016. He was recently a Professor of Economics at Monash University in Melbourne where he also held the position of Dean of the Faculty of Business and Economics from 2009-2011.

Robin Stonecash is Dean of Business and Head of Gold Coast campus at Southern Cross University. Previously, Robin was the Director of Executive Education in the Department of Management Education at The University of Sydney Business School. For the last 30 years she has been an academic and consultant, working at the University of Sydney Business School, the Macquarie Graduate School of Management, the Australian Graduate School of Management at UNSW and the School of Business at UTS. She also worked for the Centre for International Economics, a Canberra-based economic consulting firm, working on government policy and regulatory issues.

Martin Byford is Lecturer of Economics at RMIT University. Prior to joining RMIT he was Assistant professor of economics at the University of Colorado at Boulder. Martin discovered economics during the final year of a combined Arts and Civil Engineering degree. Realising that he had made a terrible error in his choice of vocation, Martin went back to university to study economics. He completed a PhD at the University of Melbourne in 2007. Martin’s introductory microeconomics course is currently taught on RMIT campuses in Australia, Singapore and Vietnam.

N. Gregory Mankiw is Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and MIT. As a teacher, he has taught macroeconomics, microeconomics, statistics and principles of economics. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behaviour, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals, such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more widely accessible forums, such as The New York Times, The Washington Post, The Wall Street Journal, and Fortune. In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005 he served as Chairman of the President's Council of Economic Advisers.

  • A full MindTap course is available
  • Updated cases and economic data keeps the material current and relevant for your students
  • Chapter 18 extensively updated as a result of a recently released policy document on Competition and Regulation
  • New multiple choice questions to test student knowledge and comprehension
  • Refreshed topical information on the GFC and beyond in light of the European debt crises, austerity and stimulus
  • ‘FYI’ boxes present additional material designed to enhance the concepts covered in each chapter.
  • ‘Ten Lessons from Economics’ are outlined in Chapter 1 and referred back to throughout the text to remind students that these lessons are the key to most economic analysis
  • Chapter objectives define and reinforce content, while quick quizzes allow students to check their comprehension after they read each major section. Key concepts are listed at the end of the chapter and defined in the margin to help students grasp new terminology
  • Current cases provide practical illustrations of important concepts

Table of Contents

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Part I: Introduction
1. Ten lessons from economics
2. Thinking like an economist
3. Interdependence and the gains from trade
Part 2: Supply and demand I: How markets work
4. The market forces of supply and demand
5. Elasticity and its application
6. Supply, demand and government policies
Part 3: Supply and demand II: Markets and welfare
7. Consumers, producers and the efficiency of markets
8. Application: The costs of taxation
9. Application: International trade
Part 4: The economics of the public sector
10. Externalities
11. Public goods and common resources
12. The design of the tax system
Part 5: Firm behaviour and the organisation of industry
13. The costs of production
14. Firms in competitive markets
15. Monopoly
16. Monopolistic competition
17. Oligopoly and business strategy
18. Competition policy
Part 6: The economics of labour markets
19. The markets for the factors of production
20. Earnings, unions and discrimination
21. Income inequality and poverty
Part 7: Topics for further study
22. The theory of consumer choice
23. Frontiers of microeconomics
Part 8: The data of macroeconomics
24. Measuring a nation’s income
25. Measuring the cost of living
Part 9: The real economy in the long run
26. Production and growth
27. Saving, investment and the financial system
28. The natural rate of unemployment
Part 10: Money and prices in the long run
29. The monetary system
30. Inflation: Its causes and costs
Part 11: The macroeconomics of open economies
31. Open-economy macroeconomics: Basic concepts
32. A macroeconomic theory of the open economy
Part 12: Short-run economic fluctuations
33. Aggregate demand and aggregate supply
34. The influence of monetary and fiscal policy on aggregate demand
35. The short-run trade-off between inflation and unemployment
36. Global Financial Crisis 2008 and beyond
Part 13: Final thoughts
37. Five debates over macroeconomic policy

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

Principles of Economics Instructor Companion Website

Everything you need for your course in one place! This collection of product-specific lecture and class tools is available online via the instructor resource centre at www.cengage.com/login. You'll be able to access and download materials such as PowerPoint presentations, images, and the instructor’s manual. New to this edition robust PowerPoint lecture outlines that have been designed for an active classroom with reading check questions and Think-Pair-Share questions as well as the traditional section by section outline.

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Principles of Economics Asia-Pacific Edition

  • ISBN-10: 0170382656
  • ISBN-13: 9780170382656

Price USD$ 120.00


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