Principles of Economics

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Date

January 21, 2012

Format

Mixed media product, 896 pages

ISBN

0073511404 / 9780073511405

$

Your Price

321.00



Overview


Main description

In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of teaching a shorter list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. The authors introduce a coherent short list of core principles and reinforce them by illustrating and applying each in numerous contexts. With engaging questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. Throughout this process, the authors encourage students to become “economic naturalists:” people who employ basic economic principles to understand and explain what they observe in the world around them.

Principles of Economics, fifth edition, is thoroughly updated with examples that connect to current events such as the financial crisis of 2008 and Great Recession of 2007-2009 as well as other topics commonly discussed in the media. In addition, the text is paired with McGraw-Hill’s market-leading online assignment and assessment solution Connect Economics, providing tools to enhance course management and student learning.

Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.


Table of contents

Part 1 Introduction 1.Thinking Like an Economist 2.Comparative Advantage 3.Supply and Demand Part 2 Competition and the Invisible Hand 4. Elasticity 5.Demand 6.Perfectly Competitive Supply 7.Efficiency, Exchange, and the Invisible Hand in Action Part 3 Market Imperfections 8.Monopoly, Oligopoly, and Monopolistic Competition 9.Games and Strategic Behavior 10.Externalities and Property Rights 11.The Economics of Information Part 4 Economics of Public Policy 12.Labor Markets, Poverty, and Income Distribution 13.The Environment, Health, and Safety 14.Public Goods and Tax Policy Part 5 Macroeconomics: Data and Issues 15.Spending, Income, and GDP 16.Inflation and the Price Level 17.Wages and Unemployment Part 6 The Economy in the Long Run 18.Economic Growth 19.Saving, Capital Formation, and Financial Markets 20.Money, Prices, and the Financial System Part 7 The Economy in the Short Run 21.Short-Term Economic Fluctuations 22.Spending, Output, and Fiscal Policy 23.Monetary Policy and the Federal Reserve 24.Aggregate Demand, Aggregate Supply, and Business Cycles 25.Macroeconomic Policy Part 8 The International Economy 26.Exchange Rates, International Trade, and Capital Flows





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