Samuelson's text was first published in 1948, and it immediately became the authority for the principles of economics courses. The book continues to be the standard-bearer for principles courses, and this revision continues to be a clear, accurate, and interesting introduction to modern economics principles. Bill Nordhaus is now the primary author of this text, and he has revised the book to be as current and relevant as ever.

Mass Institute of Tech

PART ONE BASIC CONCEPTS

Chapter 1The Central Concepts of Economics

Chapter 2The Modern Mixed Economy

Chapter 3Basic Elements of Supply and Demand

PART TWOMICROECONOMICS: SUPPLY, DEMAND, AND PRODUCT MARKETS

Chapter 4Supply and Demand: Elasticity and Applications

Chapter 5Demand and Consumer Behavior

Chapter 6Production and Business Organization

Chapter 7Analysis of Costs

Chapter 8Analysis of Perfectly Competitive Markets

Chapter 9Imperfect Competition and Monopoly

Chapter 10Competition Among the Few

Chapter 11Economics of Uncertainty

PART THREE. FACTOR MARKETS: LABOR, LAND, AND CAPITAL

Chapter 12How Markets Determine Incomes

Chapter 13The Labor Market

Chapter 14Land, Natural Resources, and the Environment

Chapter 15Capital, Interest, and Profits

PART FOUR.APPLICATIONS OF ECONOMIC PRINCIPLES

Chapter 16Government Taxation and Expenditure

Chapter 17Efficiency vs. Equality: The Big Tradeoff

Chapter 18International Trade

PART FIVE. MACROECONOMICS: ECONOMIC GROWTH AND BUSINESS CYCLES

Chapter 19Overview of Macroeconomics

Chapter 20Measuring Economic Activity

Chapter 21Consumption and Investment

Chapter 22Business Cycles and Aggregate Demand

Chapter 23Money and Financial Markets

Chapter 24Monetary Policy and the Economy

PART SIX. GROWTH, DEVELOPMENT, AND THE GLOBAL ECONOMY

Chapter 25 Economic Growth

Chapter 26The Challenge of Economic Development

Chapter 27Exchange Rates and the International Financial System

Chapter 28Open-Economy Macroeconomics

PART SEVEN. UNEMPLOYMENT, INFLATION, AND ECONOMIC POLICY

Chapter 29Unemployment and the Foundations of Aggregate Supply

Chapter 30Inflation

Chapter 31The Frontiers of Macroeconomics