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Economics Today, 19th edition

Published by Pearson (January 5, 2017) © 2018

  • Roger LeRoy Miller Institute for University Studies, Arlington Texas

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About the book

  • NEW! and EXPANDED! Emphasis on Behavioral Economics. The theory of bounded rationality forms the basis of behavioral economics. This theory is expanded upon in the introductory chapter, several macro chapters, and a number of micro chapters. More importantly, in keeping with the desire to show the applicability of theory, every single chapter in the 19th edition has a behavioral economics example.
  • NEW! End-of-Chapter Problems. There are six to eight new problems at the end of each chapter, many of which are based on the interactive graphs within the chapter. They require students to apply their critical thinking skills learned from the chapter.
  • NEW! An opening vignette about a serious application of each chapter’s theory with a continuing Issues & Applications feature at the end of every chapter is new to this edition.
  • Learning Objectives accompany each major chapter section to help focus student reading comprehension and allow for self-assessment to ensure that students have grasped key concepts.
  • NEW! A “grabber” Did You Know Thatfeature starts off every chapter.
  • NEW! A variety of examples are classified into three categories, and each has three references from which the information was obtained:
    • Example
    • Policy Example
    • Behavioral Example
    • International Example
  • NEW! What If features are included in each chapter.
  • NEW! You Are There features demonstrate to students how real people react to policy changes and changes in our economic environment.
  • Domestic topics and events are presented through thought¿-provoking discussions.
  • Important policy questions help students understand public debates.
  • Global and international policy examples emphasize the continued importance of international perspectives and policy.
  • Fundamental Points at the end of every chapter provide students with a quick rundown of the most salient concepts they must understand for each chapter, enhancing information retention.
  • References and citations for all in-¿text examples are provided for further exploration by instructors and students.
  • Critical Analysis questions and Web Resources provide further opportunities for discussion and exploration. Suggested answers for Critical Analysis questions are in the Instructor’s Manual.
  • An Instructor’s Manual contains additional practice and assignable questions for each chapter topic, to further student understanding of the content.
  • The End¿-of-¿Chapter Summary shows students what they need to know and where to go in MyLab™ Economics for more practice.
  • Self Checks encourage student interaction and provide an opportunity for them to check their understanding before moving on.

Also available with MyLab Economics

MyLab Economics is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

  • The Enhanced eText keeps students engaged in learning on their own time, while helping them achieve greater conceptual understanding of course material. The worked examples, animations, and interactive tutorials bring learning to life, and algorithmic practice allows students to apply the very concepts they are reading about. Combining resources that illuminate content with a

About the book

  • Emphasis on Behavioral Economics. The theory of bounded rationality forms the basis of behavioral economics. This theory is expanded upon in the introductory chapter, several macro chapters, and a number of micro chapters. More importantly, in keeping with the desire to show the applicability of theory, every single chapter in the 19th edition has a behavioral economics example.
  • End-of-Chapter Problems. There are six to eight new problems at the end of each chapter, many of which are based on the interactive graphs within the chapter. They require students to apply their critical thinking skills learned from the chapter.
  • An opening vignette about a serious application of each chapter’s theory with a continuing Issues & Applications feature at the end of every chapter is new to this edition.
  • A “grabber” Did You Know Thatfeature starts off every chapter.
  • A variety of examples are classified into three categories, and each has three references from which the information was obtained:
    • Example
    • Policy Example
    • Behavioral Example
    • International Example
  • What If features are included in each chapter.
  • You Are There features demonstrate to students how real people react to policy changes and changes in our economic environment.

Also available with MyLab Economics

MyLab™ Economics is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

  • Figure Animations provide a step-by-step walkthrough of select figures. Seventy percent of all figures are animated. Figure animations have been updated to reflect changes to the 19th edition.
  • Graphsare updated with Real-Time Data from FRED™ so that students can observe the changing impacts of these important variables on the economy.
  • Test Item File. Nearly 500 new assignable MyLab questions have been added for this edition, expanding the database of questions to an average of over 100 questions per chapter.
  • Math Review Exercises. MyLab now offers a rich array of assignable and auto-graded exercises covering fundamental math concepts geared specifically to principles and intermediate economics students. Aimed at increasing student confidence and success, our new math skills review Chapter R is accessible from the assignment manager and contains over 150 graphing, algebra, and calculus exercises for homework, quiz, and test use. Offering economics students warm-up math assignments, math remediation, or math exercises as part of any content assignment has never been easier!

PART 1: Introduction

1. The Nature of Economics

2. Scarcity and the World of Trade-Offs

3. Demand and Supply

4. Extensions of Demand and Supply Analysis

5. Public Spending and Public Choice

6. Funding the Public Sector

 

PART 2: Introduction to Macroeconomics and Economic Growth

7. The Macroeconomy: Unemployment, Inflation, and Deflation

8. Measuring the Economy’s Performance

9. Global Economic Growth and Development

 

PART 3: Real GDP Determination and Fiscal Policy

10. Real GDP and the Price Level in the Long Run

11. Classical and Keynesian Macro Analyses

12. Consumption, Real GDP, and the Multiplier

13. Fiscal Policy

14. Deficit Spending and the Public Debt

 

PART 4: Money, Stabilization, and Growth

15. Money, Banking, and Central Banking

16. Domestic and International Dimensions of Monetary Policy

17. Stabilization in an Integrated World Economy

18. Policies and Prospects for Global Economic Growth

 

PART 5: Dimensions of Microeconomics

19. Demand and Supply Elasticity

20. Consumer Choice

21. Rents, Profits, and the Financial Environment of Business

 

PART 6: Market Structure, Resource Allocation, and Regulation

22. The Firm: Cost and Output Determination

23. Perfect Competition

24. Monopoly

25. Monopolistic Competition

26. Oligopoly and Strategic Behavior

27. Regulation and Antitrust Policy in a Globalized Economy

 

PART 7: Labor Resources and the Environment

28. The Labor Market: Demand, Supply, and Outsourcing

29. Unions and Labor Market Monopoly Power

30. Income, Poverty, and Health Care

31. Environmental Economics

 

PART 8: Global Economics

32. Comparative Advantage and the Open Economy

33. Exchange Rates and the Balance of Payments

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