These two highly-respected authors have revised this best-selling book to include more current, modern subject matter and events while maintaining those features that have contributed to its great success. It continues to use stories, graphs, and equations and a unified, logical organization to make economic concepts easy-to-understand and relevant to all readers. Users of this book see the connection between growth, trade, comparative advantage, and the production possibilities frontier. When readers understand how a simple competitive market system works, they are ready to focus on problems of real-world markets. Currency data has been updated, with coverage of deflation, the effects of the war with Iraq and the war on terrorism, and the wars' impact on the national deficit. A comprehensive overview introducing economics begins the book; subsequent topics include: foundations of microeconomics: consumers and firms; market imperfection and the role of government; concepts and problems in macroeconomics; the goods and money markets; macroeconomic analysis; and the world economy. An excellent desk reference for economists; this book will serve any business owner, as an understanding of basic economics will prove helpful in all ventures.

Reviewers tell us that Case/Fair is one of the all-time bestselling principles of economics texts because they trust it to be clear, thorough and complete.  This well-respected author team is joined for the 9th edition by a new co-author, Sharon Oster.  Sharon’s research and teaching experience brings new coverage of modern topics and an applied approach to economic theory, as demonstrated in the new Economics in Practice feature.

Introduction to Economics; The Market System:  Choices Made by Households and Firms; Market Imperfections and the Role of Government; Concepts and Problems in Macroeconomics; The Core of Macroeconomic Theory ; Further Macroeconomic Issues; The World Economy

Case/Fair/Oster, believe that the best way to understand how market opportunities operate and the best way to understand basic economic theory is to work through the perfectly competitive model first, including discussions of output markets and input markets, and the connections between them, before turning to noncompetitive market structures, such as monopoly and oligopoly.

Part 1: Introduction to Economics

Ch. 1: The Scope and Method of Economics

Ch. 2: The Economic Problem: Scarcity and Choice

Ch. 3: Demand, Supply and Market Equilibrium

Ch. 4: Demand and Supply Applications

Ch. 5: Elasticity

Part 2: The Market System:  Choices Made by Households and Firms

Ch. 6: Household Behavior and Consumer Choice

Ch. 7: The Production Process: The Behavior of Profit-Maximizing Firms

Ch. 8: Short-Run Costs and Output Decisions

Ch. 9: Long-Run Costs and Output Decisions

Ch. 10: Input Demand: The Labor and Land Markets

Ch. 11: Input Demand: The Capital Market and the Investment Decision

Ch. 12: General Equilibrium and the Efficiency of Perfect Competition

Part 3: Market Imperfections and the Role of Government

Ch. 13: Monopoly and Antitrust Policy

Ch. 14: Oligopoly

Ch. 15: Monopolistic Competition

Ch. 16: Externalities, Public Goods and Social Choice

Ch. 17: Uncertainty and Asymmetric Information

Ch. 18: Income Distribution and Poverty

Ch. 19: Public Finance: The Economics of Taxation

Part 4: Concepts and Problems in Macroeconomics

Ch. 20: Introduction to Macroeconomics

Ch. 21: Measuring National Output and National Income

Ch. 22: Unemployment, Inflation, and Long-Run Growth

Part 5: The Core of Macroeconomic Theory

Ch. 23: Aggregate Expenditure and Equilibrium Output

Ch. 24: The Government and Fiscal Policy

Ch. 25: The Money Supply and the Federal Reserve System

Ch. 26: Money Demand and the Equilibrium Interest Rate

Ch. 27:  Aggregate Demand in the Goods and Money Markets

Ch. 28: Aggregate Supply and the Equilibrium Price Level

Ch. 29: The Labor Market in the Macro Economy

Part 6:  Further Macroeconomic Issues

Ch. 30: Policy Timing, Deficit Targeting, and Stock Market Effects

Ch. 31: Household and Firm Behavior in the Macroeconomy: A Further Look

Ch. 32: Long-Run Growth

Ch. 33: Debates in Macroeconomics: Monetarism, New Classical Theory, and Supply-Side Economics

Part 7: The World Economy

Ch. 34: International Trade, Comparative Advantage, and Protectionism

Ch. 35: Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates

Ch. 36: Economic Growth in Developing and Transitional Economics