The new features in this edition are too numerous to list in their entirety, but here is a sample:

- A new box summarizes recent research by Nobel Prize winner Ed Prescott on how taxes influence work effort in Europe.
- A new box discusses the winners and losers from the increased textile trade with China.
- A new case study describes the fiscal challenge ahead that arises from anaging population.
- A new box describes how London has reduced congestion with road pricing.
- A new box discusses how rapid growth in Asia is making the global distribution of income more equal.
- A new box summarize recent research into the causes of child labor in poor nations.
- A new case study examines the moral hazard problem as applied to corporate managers.
- A new box discusses what behavioral economics says about the determinants of saving.
- A new box considers how economic statistics can miss the underground economy.
- A new box uses three striking photos to illustrate the differences in living standards in Great Britain, Mexico, and Mali.


      Etc.

Part 1 Introduction
Part 2 How Markets Work
Part 3 Markets and Welfare
Part 4 The Data of Macroeconomics
Part 5 The Real Economy in the long run
Part 6 Money and Prices in the long run
Part 7 The Macroeconomics of open economies
Part 8 Short-run ecomomic fluctuations
Part 9 Final Thoughts
Appendix: Quick Quiz Answers