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Principles of Economics

ISBN: 9780073511405 | 0073511404

Edition: 5th
Format: Hardcover
Publisher: McGraw-Hill/Irwin
Pub. Date: 1/21/2012

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Summary Table of Contents

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 t... MORE

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.

Frank/Bernanke also encourages students to become "Economic Naturalists," by employing basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation.

Part 1 Introduction

1. Thinking Like an Economist

RENT TEXTBOOKS

Principles of Economics

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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 Mark... MORE

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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