Description
This very successful textbook is distinguished by a superior writing style that draws upon common student experiences to introduce economic concepts, making economic theory more accessible and interesting. "Case Studies" and numerous examples take advantage of students' intuitive knowledge of economics, building upon real-life situations. A streamlined design places pedagogy and illustrations directly within the flow of the text, making them less distracting and more useful for students. A fully integrated program of technology enhancements sets this text apart by pairing the book with numerous online multimedia learning tools that have been developed to help the text better serve a wide range of learning styles. The text uniquely integrates classroom use of The Wall Street Journal by including a complimentary student subscription offer, as well as in-text pedagogy to help students learn to analyze the latest economic events as reported in the Journal.
Benefits
Enhanced Wall Street Journal Integration: Exclusively with McEachern, instructors can take advantage of powerful features to help teach students how to analyze the latest economic events as reported in the Wall Street Journal. Each new text comes with a complimentary student subscription card for both the print and WSJ.COM versions of the Journal. A guide to using The Wall Street Journal is packaged with the text, and most chapters include "Wall Street Journal" questions that have students apply chapter topics to analyze business, economic, and policy issues found in recent articles. New "Reading It Right" margin features present a quote from a Wall Street Journal article and ask students to interpret in based on what they have learned in the chapter.
Internet Integration: This edition makes technology more helpful by featuring an even tighter integration of text and technology. All Case Studies include relevant Web addresses and questions for further analysis. Net Bookmark margin notes identify interesting Web sites that illustrate real-world examples, giving students a chance to develop their economic research skills. Links for Case Studies and Net Bookmarks plus navigation tips and other information can be accessed through the McEachern Web site. To put the student in touch with information sources, nearly all data exhibits now include a Web address directing the reader to the latest data.
Case Studies and Extended Examples: Case Studies (updated or replaced for this edition) in each chapter are extended applications connecting economic theory to the real world. Each Case Study is integrated into the flow of the chapter and has a corresponding end-of-chapter question to enhance its illustrative value and reduce the likelihood that it will be skipped over. Case Studies and over 214 extended examples throughout the text have been selected to fit into 4 categories that reflect a wide spectrum of real economic issues - Public Policy (policy issues), The World of Business (real-world business applications), Bringing Theory to Life (real-world examples from every-day life), and Information Economy (economics in today''s high-tech environment).
More Exhibits: This edition is more visual with more exhibits added to reinforce key ideas. Graphs are clean and clear, with curves that are carefully and systematically color-coded to enhance student understanding.
Leads by Example: McEachern uniquely introduces each economic idea by using common everyday student experiences to help bridge the gap between what students already know and the unfamiliar world of economics.
Unique End-of-Chapter Material: End-of-Chapter Questions and Problems identify the chapter concepts being addressed, allowing for easier assignment by the instructor and helping students find the material they may need to review if a question or problem gives them difficulty. Many involve using the Internet, The Wall Street Journal, or other media resources to have students apply the concepts and tools to real-world, hands-on economic analysis.
Table of contents
PART I. INTRODUCTION TO ECONOMICS.
1. The Art and Science of Economic Analysis.
2. Some Tools of Economic Analysis.
3. Economic Decision Makers.
4. Demand and Supply Analysis.
PART II. INTRODUCTION TO THE MARKET SYSTEM.
5. Elasticity of Demand and Supply.
6. Consumer Choice and Demand.
7. Production and Cost in the Firm.
PART III. MARKET STRUCTURE AND PRICING.
8. Perfect Competition.
9. Monopoly.
10. Monopolistic Competition and Oligopoly.
PART IV. RESOURCE MARKETS.
11. Resource Markets.
12. Labor Markets and Labor Unions.
13. Capital, Interest, and Corporate Finance.
14. Transaction Costs, Imperfect Information, and Market Behavior.
PART V. MARKET FAILURE AND PUBLIC POLICY.
15. Economic Regulation and Antitrust Activity.
16. Public Goods and Public Choice.
17. Externalities and the Environment.
18. Income Distribution and Poverty.
PART VI. INTERNATIONAL MICROECONOMICS.
19. International Trade.
New to this edition
MarketSim: This online product, made up of two simulations, is designed to help students better understand how markets work by taking on the roles of consumers and producers in a simulated economy. Also available as a bundle option.
Homework Express!: In this edition, we introduce Homework Xpress, an easy and completely customizable homework management program and tutorial. Available as a bundle option, students are able to practice and work their homework right on line while getting immediate feedback.
McEachern Xtra!: Recognizing that each student has an individual learning style and that different learning styles require different tools, the McEachern Xtra! CD (included with every new textbook) provides access to a robust set of additional online learning tools that address a variety of different learning styles. Xtra! includes the Graphing Workshop, a one-stop learning resource for help in mastering the language of graphs, CNN video applications, "Ask the Instructor" lecture video clips, and numerous practice quizzes. MAP (McEachern Assistance Program) to Learning Success is the central navigational tool for McEachern Xtra! that systematically guides students, by learning objective, through all available text and Xtra! multimedia tools to deepen their understanding. Each tool is accompanied by an icon(s) that identifies the learning style(s) for which it is most appropriate, so that students can choose the most appropriate tools to support the way they learn best.
The Latest Developments: This edition has been revised to include more coverage on labor migration, public choice around the world and more on the income approach to GDP.
Reorganized Material: Chapters 3 (Economic Decision Makers) and 4 (Demand and Supply Analysis) are now reversed for a more logical flow.
New Material: More international example and illustrations as well as new case studies and exhibits have been added to this edition.
This very successful textbook is distinguished by a superior writing style that draws upon common student experiences to introduce economic concepts, making economic theory more accessible and interesting. "Case Studies" and numerous examples take advantage of students' intuitive knowledge of economics, building upon real-life situations. A streamlined design places pedagogy and illustrations directly within the flow of the text, making them less distracting and more useful for students. A fully integrated program of technology enhancements sets this text apart by pairing the book with numerous online multimedia learning tools that have been developed to help the text better serve a wide range of learning styles. The text uniquely integrates classroom use of The Wall Street Journal by including a complimentary student subscription offer, as well as in-text pedagogy to help students learn to analyze the latest economic events as reported in the Journal.
Benefits
Enhanced Wall Street Journal Integration: Exclusively with McEachern, instructors can take advantage of powerful features to help teach students how to analyze the latest economic events as reported in the Wall Street Journal. Each new text comes with a complimentary student subscription card for both the print and WSJ.COM versions of the Journal. A guide to using The Wall Street Journal is packaged with the text, and most chapters include "Wall Street Journal" questions that have students apply chapter topics to analyze business, economic, and policy issues found in recent articles. New "Reading It Right" margin features present a quote from a Wall Street Journal article and ask students to interpret in based on what they have learned in the chapter.
Internet Integration: This edition makes technology more helpful by featuring an even tighter integration of text and technology. All Case Studies include relevant Web addresses and questions for further analysis. Net Bookmark margin notes identify interesting Web sites that illustrate real-world examples, giving students a chance to develop their economic research skills. Links for Case Studies and Net Bookmarks plus navigation tips and other information can be accessed through the McEachern Web site. To put the student in touch with information sources, nearly all data exhibits now include a Web address directing the reader to the latest data.
Case Studies and Extended Examples: Case Studies (updated or replaced for this edition) in each chapter are extended applications connecting economic theory to the real world. Each Case Study is integrated into the flow of the chapter and has a corresponding end-of-chapter question to enhance its illustrative value and reduce the likelihood that it will be skipped over. Case Studies and over 214 extended examples throughout the text have been selected to fit into 4 categories that reflect a wide spectrum of real economic issues - Public Policy (policy issues), The World of Business (real-world business applications), Bringing Theory to Life (real-world examples from every-day life), and Information Economy (economics in today''s high-tech environment).
More Exhibits: This edition is more visual with more exhibits added to reinforce key ideas. Graphs are clean and clear, with curves that are carefully and systematically color-coded to enhance student understanding.
Leads by Example: McEachern uniquely introduces each economic idea by using common everyday student experiences to help bridge the gap between what students already know and the unfamiliar world of economics.
Unique End-of-Chapter Material: End-of-Chapter Questions and Problems identify the chapter concepts being addressed, allowing for easier assignment by the instructor and helping students find the material they may need to review if a question or problem gives them difficulty. Many involve using the Internet, The Wall Street Journal, or other media resources to have students apply the concepts and tools to real-world, hands-on economic analysis.
Table of contents
PART I. INTRODUCTION TO ECONOMICS.
1. The Art and Science of Economic Analysis.
2. Some Tools of Economic Analysis.
3. Economic Decision Makers.
4. Demand and Supply Analysis.
PART II. INTRODUCTION TO THE MARKET SYSTEM.
5. Elasticity of Demand and Supply.
6. Consumer Choice and Demand.
7. Production and Cost in the Firm.
PART III. MARKET STRUCTURE AND PRICING.
8. Perfect Competition.
9. Monopoly.
10. Monopolistic Competition and Oligopoly.
PART IV. RESOURCE MARKETS.
11. Resource Markets.
12. Labor Markets and Labor Unions.
13. Capital, Interest, and Corporate Finance.
14. Transaction Costs, Imperfect Information, and Market Behavior.
PART V. MARKET FAILURE AND PUBLIC POLICY.
15. Economic Regulation and Antitrust Activity.
16. Public Goods and Public Choice.
17. Externalities and the Environment.
18. Income Distribution and Poverty.
PART VI. INTERNATIONAL MICROECONOMICS.
19. International Trade.
New to this edition
MarketSim: This online product, made up of two simulations, is designed to help students better understand how markets work by taking on the roles of consumers and producers in a simulated economy. Also available as a bundle option.
Homework Express!: In this edition, we introduce Homework Xpress, an easy and completely customizable homework management program and tutorial. Available as a bundle option, students are able to practice and work their homework right on line while getting immediate feedback.
McEachern Xtra!: Recognizing that each student has an individual learning style and that different learning styles require different tools, the McEachern Xtra! CD (included with every new textbook) provides access to a robust set of additional online learning tools that address a variety of different learning styles. Xtra! includes the Graphing Workshop, a one-stop learning resource for help in mastering the language of graphs, CNN video applications, "Ask the Instructor" lecture video clips, and numerous practice quizzes. MAP (McEachern Assistance Program) to Learning Success is the central navigational tool for McEachern Xtra! that systematically guides students, by learning objective, through all available text and Xtra! multimedia tools to deepen their understanding. Each tool is accompanied by an icon(s) that identifies the learning style(s) for which it is most appropriate, so that students can choose the most appropriate tools to support the way they learn best.
The Latest Developments: This edition has been revised to include more coverage on labor migration, public choice around the world and more on the income approach to GDP.
Reorganized Material: Chapters 3 (Economic Decision Makers) and 4 (Demand and Supply Analysis) are now reversed for a more logical flow.
New Material: More international example and illustrations as well as new case studies and exhibits have been added to this edition.