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Economics offers a novel approach to the principles of economics course based on three pedagogical principles:

  • Ongoing assessment is an essential component of the learning process;
  • Students understand concepts better when they are presented in the context of engaging stories;
  • Students remember more when they connect concepts to what they see or read in the news and what they experience in their every day life.
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Product Details

  • ISBN-13: 9780201882629
  • Publisher: Prentice Hall
  • Publication date: 1/26/2006
  • Series: Pearson Custom Business Resources Series
  • Edition description: New Edition
  • Pages: 968
  • Product dimensions: 8.40 (w) x 10.10 (h) x 1.40 (d)

Table of Contents

Part I: Introduction

1. Economics: The Science of Everyday Life

EXAMPLE Registering for Class on the First Day of the Semester

2. Efficiency and Allocation in the Global Economy

EXAMPLE  U.S Spending on Military Build-up and Healthcare

3. The American Economy in a Global Setting

EXAMPLE  Ups and Downs of Pittsburgh’s Steel Industry

4. Introduction to the Demand and Supply Framework

EXAMPLE  Market for Coffee in Burlington, Vermont

5. Elasticity

EXAMPLE  Lunchtime Market for Fast Food

6. Market Efficiency and Government Intervention

EXAMPLE  Buying a Laptop Computer for College

PART II: The Role of Consumers and Firms

7. Consumer Behavior

EXAMPLE Spending Money on Pizza or CDs

8. Firm Production and Cost

EXAMPLE Guitar Production in Nashville, TN

PART III: Market Structure, Pricing, and Public Policy

9. Perfect Competition

EXAMPLE Pike Place Market and the Seattle Salmon Business

10. Monopoly

EXAMPLE Major League Baseball and an Atlanta Braves game

11. Monopolistic Competition and Product Differentiation

EXAMPLE Philly Cheese Steak Industry

12. Oligopoly

EXAMPLE  Video Game Console Industry

13. Antitrust, Regulation, and Deregulation

EXAMPLE  Ticketmaster as a Monopoly

PART IV: Resource Markets, Market Failure and Public Goods

14. Firms and Financial Markets

EXAMPLE  Google's Rise to Prominence

15. Labor Markets

EXAMPLE  MP3 Carrying Case Manufacturer

16. Poverty and the Distribution of Income

EXAMPLE  Oprah Winfrey'sCareer

17. Market Failure and Public Goods

EXAMPLE The Chesapeake Bay's Endangered Natural Resources


Part V: Measuring Macroeconomic Health

18. Unemployment and Employment

EXAMPLE  Unemployed College Grad in the San Francisco Job Market

19. Inflation and Prices

EXAMPLE  Hyperinflation in Germany During the 1920's

20. GDP and the Business Cycle

EXAMPLE Buying American: Toyota Matrix or Ford Focus

Part VI: The Aggregate Demand, Aggregate Supply, and Fiscal Policy

21. Aggregate Demand/Aggregate Supply: The Basic Model

EXAMPLE Comparison of Macroeconomics Outcomes After the Vietnam War and Gulf Wars

22. From Short-Run to Long-Run Equilibrium: The Model in Action

EXAMPLE Comparative Performance of Various Economies

23. The Role of Aggregate Demand in the Short-Run

EXAMPLE Hollywood's Fascination with the Great Depression

24. Fiscal Policy

EXAMPLE "Blame Game" Over the Health of the Economy During Presidential Elections


25. The Federal Budget and the National Debt

EXAMPLE Spiraling U.S. National Debt

Part VII: Money and Monetary Policy

26.  Basics of Money and Banking

EXAMPLE  Private Currency in Ithaca, New York

27. Money Creation and Monetary Policy

EXAMPLE  Federal Reserve Actions to Stabilize the U.S. Economy in the Wakeof the 9/11 Terrorist Attacks

28.  Money in the Macroeconomy

EXAMPLE Federal Reserve Doubles M1 Money Supply


Part VIII: Long-Run Economic Health


29. Long-Run Implications of Macroeconomic Policy

EXAMPLE  Debate Over Active versus Passive Stabilizatoin Policies in Response to the 2001 Recession

30. Economic Growth

EXAMPLE Comparing the U.S. and Mexican Economies

Part IX: International Trade and Finance


31. International Trade

EXAMPLE  Anti-globalization Protesters at the WTO Meeting in Seattle, WA

32. International Finance

EXAMPLE  The Argentine Financial Crisis

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