Ever wonder why colleges use GPAs, ACTs, and SATs for purposes of admission, or how supply and demand play out on a freeway, or what price has to do with being late to class, or how you might end up paying for good weather? ECONOMICS, 13E answers these questions and many more as this book opens up the world of economic analysis. This edition offers more detailed coverage of how economists build theories to explain everyday life than any other principles of economics text on the market. Memorable examples from pop culture illustrate the unexpected places economics occur and show you how economic forces link to every day events. This edition offers complete video assets to assist you in learning economics. There are short video lectures to assist you with key economic concepts and theories. In addition, Video Office Hours (longer video lectures) is a digital video asset that answers questions that students often have for their instructors during office hours. There are also videos assets – such as What’s Wrong with this Diagram? “Working with Diagrams” and “Progression Graphs” that assist you in learning and working with all the diagrams that are in an economics principles course. A new Adaptive Test Prep available on MindTap Enables you to assess your personal economic understanding. Powerful digital resources, including Aplia and MindTap, work with the book’s latest content to reflect today’s changing economy and equip you with a thorough understanding of contemporary microeconomics.
AN INTRODUCTION TO ECONOMICS.
Part I: ECONOMICS: THE SCIENCE OF SCARCITY.
1. What Economics Is About.
Appendix A Working with Diagrams.
Appendix B Should You Major in Economics?
2. Production Possibilities Frontier Framework.
3. Supply and Demand: Theory.
4. Prices: Free, Controlled, and Relative.
5. Supply, Demand, and Price: Applications.
MICROECONOMICS.
Part II: MICROECONOMIC FUNDAMENTALS.
6. Elasticity.
7. Consumer Choice: Maximizing Utility and Behavioral Economics.
Appendix C Budget Constraint and Indifference Curve Analysis.
8. Production and Costs.
Part III: PRODUCT MARKETS AND POLICIES.
9. Perfect Competition.
10. Monopoly.
11. Monopolistic Competition, Oligopoly, and Game Theory.
12. Government and Product Markets: Antitrust and Regulation.
Part IV: FACTOR MARKETS AND RELATED ISSUES.
13. Factor Markets: With Emphasis on the Labor Market.
14. Wages, Union, and Labor.
15. The Distribution of Income and Poverty.
16. Interest, Rent, and Profit.
Part V: MARKET FAILURE, PUBLIC CHOICE, AND SPECIAL-INTEREST-GROUP POLITICS.
17. Market Failure: Externalities, Public Goods, and Asymmetric Information.
18. Public Choice and Special-Interest-Group Politics.
Part VI: ECONOMICS THEORY-BUILDING AND EVERYDAY LIFE.
19. Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions.
THE GLOBAL ECONOMY.
Part VII: INTERNATIONAL ECONOMICS AND GLOBALIZATION.
20. International Trade.
21. International Finance.
WEB CHAPTERS.
22. The Economic Case For and Against Government: Five Topics Considered.
23. Stocks, Bonds, Futures, and Options.
-
Roger A. Arnold
Dr. Roger Arnold is at California State University San Marcos, where his fields of specialization are general microeconomic theory and monetary theory. Dr. Arnold earned his B.S. in economics from the University of Birmingham in England. He received his Ph.D. in economics from Virginia Tech.
-
NEW "HEAR WHAT AND HOW THE ECONOMIST THINKS" FEATURES GIVES STUDENTS INSIGHT INTO HOW ECONOMISTS THINK ABOUT VARIOUS TOPICS. Found in all chapters, this intriguing feature virtually places a "thought caption" above the economist’s head as he or she thinks "out loud" in response to what people say about a given economics topic, or what her or she reads in the newspaper or hears on a radio show.
-
"DOES IT MATTER TO YOU IF...?" CONNECTS TEXT CONTENT TO REAL LIFE. Students see how the concepts they read in the book -- such as inflation, unemployment, the business cycle, economic growth, monetary policy, fiscal policy -- directly affect them. Students examine topics, such as " Does It Matter to You If the Economy is at One Point on the PPF Instead of Another?" or "Does It Matter if You Live in a Barter or Money Economy?" or "Does It Matter if the Money Supply Rises or Falls?" They see how it certainly does matter.
-
"QUESTIONS TO ANSWER BEFORE GOING TO CLASS" PREPARE STUDENTS FOR EFFECTIVE PARTICIPATION IN CLASS. Students answer insightful questions after reading the chapter, but before attending class, which prepares them to contribute with meaningful classroom discussion.
-
SHORT LECTURE VIDEOS HIGHLIGHT KEY CONCEPTS. These 3 to 5-minute lecture videos for each chapter further clarify the chapter’s primary economic concepts.
-
"WHAT’S WRONG WITH THIS DIAGRAM?" CLARIFIES AND PROVIDES IMPORTANT PRACTICE WORKING WITH THIS KEY PART OF ECONOMICS. In this feature a diagram is drawn and explained. The student is then asked to identify what is specifically wrong with the diagram or explanation.
-
MINDTAP’S NEW ADAPTIVE TEST PREP TOOL PREPARES STUDENTS FOR TESTING SUCCESS. This digital resource now provides more questions with both written and video answers for students to answer before taking the real test in class.
-
"ECONOMICS 24/7" FEATURE ILLUSTRATES THE PRACTICAL RELEVANCE OF KEY CONCEPTS. This helpful feature explores numerous timely issues that can be explained through economic analysis. For example, students examine why there might be "shortages" on freeways, what studying has to do with one’s production possibilities frontier, the relationship between money and happiness, and what voting rules have to do with government spending and taxing. Readers learn to look for economic forces at work as they study the principles behind those forces.
-
MINDTAP, THE MOST ADVANCED DIGITAL PRODUCT FOCUSES STUDENTS THROUGH INTERACTIVE LEARNING EXAPMPLES AND ASSIGNMENTS. MindTap offers comprehensive interactive economic problem sets, analyses, tutorials, and critical thinking exercises (powered by Aplia) that require students to take an active role in the learning process. The system automatically grades and records homework and works with any learning management system. Many of the videos and tutorials feature the author, Roger Arnold himself.
-
VIRTUALLY ENDLESS CUSTOMIZATION CHOICES OFFER ULTIMATE TEACHING FLEXIBILITY. Easily rearrange chapters or customize online chapters in print. You even have the option to add any topic, including your own research and notes or specialized topics drawn from the Cengage Economics Issues database. Aplia's customization is fully integrated, giving your students hands-on application opportunities without adding to your workload.
-
ONLY BOOK THAT DEVOTES ENTIRE CHAPTER TO HOW ECONOMISTS BUILD THEORIES. Chapter 19 is a different kind of economics principles chapter. It explains how economists progress from making observations and developing questions to answer to building theories and making predictions based on those theories. This unique chapter discusses such topics as birthrates in different countries, ethical codes in small towns and big cities, crime, house prices and school districts, health care, and giving and receiving gifts. Students see just how theories are made in the economist’s kitchen.
-
VIDEO OFFICE HOURS FROM THE AUTHOR WALK STUDENTS THROUGH KEY CONCEPTS AND GRAPHS FOR EACH CHAPTER. Using innovative video and whiteboard technology, author Roger Arnold provides both short digital concept pieces and longer digital lectures for each chapter. He clearly presents key economic concepts just as he does in his own classes, using a whiteboard for lecture points and demonstrating graphs. Students can play and replay the lectures as often as needed to review concepts.
-
"HEAR HOW AND WHAT THE ECONOMIST THINKS" GIVES STUDENTS A GLIMPSE INTO THE THINKING OF ECONOMISTS AS THEY "THINK THROUGH" VARIOUS TOPICS. These features are similar to examining a "thought caption" above the economist’s head as he or she thinks through something someone has said about an economics topic, or considers a topic that was read in a newspaper or heard on a television newscast.
-
"DOES IT MATTER TO YOU IF...?" RELATES THE BOOK’S TOPICS TO EVERYDAY CONCERNS. This feature demonstrates how the topics that students are reading about, such as interest rates, aggregate demand and supply, monetary and fiscal policy, direct impact them. "Does It Matter to You If the Economy is at One Point on the PPF Instead of Another? " or " Does It Matter to You If the Money Supply Rises or Falls?" Students see it certainly does matter.
-
QUESTIONS TO ANSWER BEFORE GOING TO CLASS HELPS STUDENTS PREPARE FOR A MEANINGFUL, INTERACTIVE CLASS PERIOD. This feature gives students an opportunity to answer 15 - 25 questions based on their chapter text reading. Students see how prepared they are for the upcoming class lectures.
-
"WHAT’S WRONG WITH THIS DIAGRAM?" AND RELATED FEATURES HELP STUDENTS MASTER DIAGRAMS FOR ECONOMICS. This feature, along with "Working With Diagrams" and "Progression Graphs," help students master the "ins and outs" of reading and understanding all of the diagrams found in today’s economics principles course.
Cengage Testing, powered by Cognero® for Arnold's Microeconomics
9781337621779
Cengage Testing, powered by Cognero® for Arnold's Microeconomics, Instant Access
9781337621762
MindTap: Microeconomics 12 Months
9781337675697
Cengage eBook: Microeconomics 12 Months
9788000027906