by Paul Samuelson and William Nordhaus

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Written by the best experts in the field, Economics is a book which is regarded as one of the finest works in contemporary economics. It has been divided into seven parts with a total of 31 chapters overall. The first part deals with the explanation of the basic concepts related to economics. This covers the concepts that form the core of economics, contemporary mixed economy, and the basic components of demand and supply. The second part broadly covers microeconomics, and includes chapters which deal with demand, supply, elasticity and its applications, product markets, demand and behavior of consumer, business organisation and production, etc. It also deals with perfectly competitive markets and its analysis, analysis and costs, monopoly, imperfect competition, the competition within some of those, and the economics which pertain to uncertainties.

Factor markets is the core of part three. Factor inputs like labour market, environment and the natural resources are covered along with the ways in which income is determined by markets and factor payments like interests, profits, and capital. The seventh part which concerns with application of economic principles covers government expenses and taxation, equality vs. efficiency, and international trade.

Macroeconomics is covered in part 5. It starts with an overview of macroeconomics, ways in which economic activities can be gauged, investment, consumption, aggregate demand, business cycles, monetary policies, and its relation with the economy.

The sixth and the seventh part cover concepts relating to growth, development, the international economy, inflation, and monetary policies. Under these parts the chapters cover aspects concerning overall economic growth, economic development and the challenges involved, foundations of aggregate supply, frontiers of macroeconomics, and inflation.

A glossary of various terms along with appendices are also included in the book, Economics. The 19th edition of this book was published by Mcgraw-Hill Education in 2010. It is available in paperback format

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