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Full 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 Microeconomics, 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.
Contents
Part 1 Introduction Chapter: 1. Thinking Like an EconomistChapter: 2. Comparative AdvantageChapter: 3. Supply and DemandPart 2 Competition and the Invisible HandChapter: 4. ElasticityChapter: 5. DemandChapter: 6. Perfectly Competitive SupplyChapter: 7. Efficiency, Exchange, and the Invisible Hand in ActionPart 3 Market ImperfectionsChapter: 8. Monopoly, Oligopoly, and MonopolisticCompetitionChapter: 9. Games and Strategic BehaviorChapter: 10. Externalities and Property RightsChapter: 11. The Economics of InformationPart 4 Economics of Public PolicyChapter: 12. Labor Markets, Poverty, and Income DistributionChapter: 13. The Environment, Health, and SafetyChapter: 14. Public Goods and Tax PolicyNER(01): WOW
