Principles of Economics, Brief Edition

by Frank, Robert; Bernanke, Ben

• ISBN13: 9780073511436
• ISBN10: 0073511439
• Edition: 2nd
• Format: Hardcover
• Copyright: 2010-10-01
• Publisher: McGraw-Hill Education

Summary

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. Students are periodically asked to apply these principles and to answer related questions and exercises. The BRIEF editions were developed for instructors who appreciate core principles approach, and desire a more manageable amount of content and slightly less rigor. In the brief editions, the authors made careful choices of material to eliminate and condense, in order to produce of more concise coverage.

Table of Contents

Part I Introduction

Chapter 1 Thinking Like an Economist

Chapter 2 Comparative Advantage

Chapter 3 Supply and Demand

Part II Competition and the Invisible Hand

Chapter 4 Demand and Elasticity

Chapter 5 Perfectly Competitive Supply

Chapter 6 Efficiency, Exchange, and the Invisible Hand in Action

Part III Market Imperfections

Chapter 7 Monopoly, Oligopoly, and Monopolistic Competition

Chapter 8 Games and Strategic Behavior

Chapter 9 Externalities and Property Rights

Part IV Economics of Public Policy

Chapter 10 Using Economics to Make Better Policy Decisions

Part V Macroeconomics: Data and Issues

Chapter 11 Spending, Income and GDP

Chapter 12 Inflation and the Price Level

Chapter 13 Wages and Unemployment

Part VI The Economy in the Long Run

Chapter 14 Economic Growth

Chapter 15 Saving, Capital Formation, and Financial Markets

Chapter 16 Money, Prices, and the Financial System

Part VII The Economy in the Short Run

Chapter 17 Short-Term Economic Fluctuations

Chapter 18 Spending, Output, and Fiscal Policy

Chapter 19 Monetary Policy and The Federal Reserve

Chapter 20 Aggregate Demand, Aggregate Supply, and Stabilization Policy

Part VIII The International Economy

Chapter 21 Exchange Rates, International Trade, and Capital Flows