The Economy Today

This edition continues to teach students the principles of economics by tying economic concepts to illustrations and examples from contemporary world events. The book features graphs which recast and highlight text presentations, helping students to assimilate difficult material. It also contains bold-faced key terms, a marginal glossary, bulleted key points, chapter-opening questions and full chapter summaries, as well as four-colour presentation of tables, illustrations, photo essays, charts and features. Updated to provide GDP coverage throughout and emphasizing government-directed versus market-driven outcomes, Schiller's sixth edition reinterprets the structure and function of the American economy in a new introductory chapter organized round the key issues of "what", "how" and "for whom". This edition also includes a new section, "The Economy Tomorrow", added to every chapter. This includes pieces such as: "Which Lever to Pull?"; "A Single Euro Currency?"; "HDTV for $500?"; and "Cleaner Air in the 1990s". The recasting material on oligopoly and monopolistic competition is now in two separate chapters and built-in problem-sets (with graphs) are incorporated in the back of the text. In chapters eight to ten, the Keynesian model and the Aggregate Supply/Aggregate Demand model are developed and fully integrated, with the Keynesian multiplier now illustrated in the AS/AD framework.