Overview

The economy is tough -- but understanding economics doesn't have to be. In fact, opening the world of economics can be exciting with Arnold's popular ECONOMICS, 14E. Economic tools, new thinking and theories show you how economic forces impact daily events and form an important part of life 24/7. Current, everyday economic examples and updated discussions and learning features illustrate many unexpected places economics can occur. You learn how supply and demand play out on a freeway, what money is and isn't, how a person pays for good weather and why some countries are rich while others are poor. Three new chapters examine economic research, health economics and forces like creative destruction and crony capitalism. Revised coverage of the Federal Reserve System reviews changes in monetary policy. Digital video lectures and digital features guide you in understanding economic diagrams and building graphs, while online MindTap, Aplia and A+ Test Prep help you assess your understanding.

Full Product Details

Author:   Roger A. Arnold (California State University, San Marcos) ,  Daniel Arnold (Brown University) ,  David Arnold (University of California - San Diego)
Publisher:   Cengage Learning, Inc
Imprint:   South-Western College Publishing
Edition:   15th edition
ISBN:  

9798214054599

Pages:   880
Publication Date:   03 April 2026
Audience:   College/higher education ,  Tertiary & Higher Education
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

An Introduction to Economics. Part I: ECONOMICS: THE SCIENCE OF SCARCITY. 1. What Economics Is About. Appendix A: Working with Diagrams. Appendix B: Should You Major in Economics? 2. Production Possibilities Frontier Framework. 3. Supply and Demand: Theory. 4. Prices: Free, Controlled, and Relative. 5. Supply, Demand, and Price: Applications. Macroeconomics. Part II: MACROECONOMIC FUNDAMENTALS. 6. Macroeconomic Measurements, Part I: Prices and Unemployment. 7. Macroeconomic Measurements, Part II: GDP and Real GDP. Part III: MACROECONOMIC STABILITY, INSTABILITY, AND FISCAL POLICY. 8. Aggregate Demand and Aggregate Supply. 9. Classical Macroeconomics and the Self-Regulating Economy. 10. Keynesian Macroeconomics and Economic Instability: A Critique of the Self-Regulating Economy. 11. Fiscal Policy and the Federal Budget. Part IV: MONEY, THE ECONOMY, AND MONETARY POLICY. 12. Money, Banking and the Financial System. 13. The Federal Reserve System. 14. Money and the Economy. 15. Monetary Policy. Appendix C: Bond Prices and Interest Rates. Part V: EXPECTATIONS AND GROWTH. 16. Expectations Theory and the Economy. 17. Economic Growth: Resources, Technology, Ideas, and Institutions. Part VI: CREATIVE DESTRUCTION AND CRONY CAPITALISM. 18. Creative Destruction and Crony Capitalism: Two Forces on the Economic Landscape Today. Microeconomics. Part VII: MICROECONOMIC FUNDAMENTALS. 19. Elasticity. 20. Consumer Choice: Maximizing Utility and Behavioral Economics. Appendix D: Budget Constraint and Indifference Curve Analysis. 21. Production and Costs. Part VIII: PRODUCT MARKETS AND POLICIES. 22. Perfect Competition. 23. Monopoly. 24. Monopolistic Competition, Oligopoly, and Game Theory. 25. Government and Product Markets: Antitrust and Regulation. Part IX: FACTOR MARKETS AND RELATED ISSUES. 26. Factor Markets: With Emphasis on the Labor Market. 27. Wages, Unions, and Labor. 28. The Distribution of Income and Poverty. 29. Interest, Rent, and Profit. Part X: HEALTH ECONOMICS 30. Health Economics: Experiments, Disparities, and Prices. Part XI: MARKET FAILURE, PUBLIC CHOICE, AND SPECIAL-INTEREST-GROUP POLITICS. 31. Market Failure: Externalities, Public Goods, and Asymmetric Information. 32. Public Choice and Special-Interest-Group Politics. Part XII: ECONOMIC THEORIES AND RESEARCH. 33. New Frontiers in Economic Research: Causal Inference and Machine Learning. International Economics. Part XIII: INTERNATIONAL TRADE AND FINANCE. 34. International Trade. 35. International Finance.

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Author Information

Dr. Roger Arnold is at California State University San Marcos, where his fields of specialization are general microeconomic theory and monetary theory. Dr. Arnold earned his BS in economics from the University of Birmingham in England. He received his Ph.D. in economics from Virginia Tech. Dr. Daniel Arnold is a research scientist in the School of Public Health at Brown University, where his field of specialization is health economics. He received his BA in economics and mathematics from Cornell University. He received his Ph.D. in economics from the University of California Santa Barbara. Dr. David Arnold is at University of California San Diego, where his fields of specialization are labor economics, imperfect competition and discrimination. He received his BA in economics from the University of California Berkeley. He received his Ph.D. in economics from Princeton University.

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