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For two-semester Principles of Economics courses at two- and four-year colleges and universities
A practice-oriented learning system that breaks the traditional textbook mold
To help students focus on the most important concepts—and effectively practice application of those concepts—Foundations of Economics is structured around a Checklist/Checkpoint system. The result is a patient, confidence-building program that prepares students to use economics in their everyday lives, regardless of what their future career will be.
This program provides a better teaching and learning experience—for you and your students. It will help you to:
• Personalize learning with MyEconLab: This online homework, tutorial, and assessment program engages students in learning and provides instructors tools to keep students on track.This package contains:
• Encourage students to learn by doing: A Checklist/Checkpoint system provides a practice-oriented framework that enables active learning.
• Command student attention and foster interest in the course: Engaging features draw students into the material, and keep them focused throughout the course.
• Provide engaging, fully updated content: New and updated material on contemporary topics better motivates students to discover the economic way of thinking.
Table of Contents
1. Getting Started
2. The U.S. and Global Economies
3. The Economic Problem
4. Demand and Supply
II. A Closer Look at Markets
5. Elasticities of Demand and Supply
6. Efficiency and Fairness of Markets
III. How Governments Influence the Economy
7. Government Actions in Markets
9. Global Markets in Action
IV. Market Failure and Public Policy
11. Public Goods and Common Resources
12. Markets with Private Information
V. A Closer Look at Decision Makers
13. Consumer Choice and Demand
14 Production and Cost
VI. Prices, Profits, and Industry Performance
15 Perfect Competition
17 Monopolistic Competition
VII. Incomes and Inequality
19 Markets for Factors of Production
20 Economic Inequality
VIII. Monitoring the Macroeconomy
21. GDP: A Measure of Total Production and Income
22. Jobs and Unemployment
23. The CPI and the Cost of Living
IX. The Real Economy
24. Potential GDP and the Natural Unemployment Rate
25. Economic Growth
26. Finance, Saving, and Investment
X. The Money Economy
27. The Monetary System
28. Money, Interest, and Inflation
XI. Economic Fluctuations
29. Aggregate Supply and Aggregate Demand
30. Aggregate Expenditure Multiplier
31. The Short-Run Policy Tradeoff
XII. Macroeconomic Policy
32. Fiscal Policy
33. Monetary Policy
34. International Finance