Gain a strong understanding of economic principles with the hundreds of lively examples found in McEachern's ECONOMICS: A CONTEMPORARY INTRODUCTION, 11E. This book draws on what you already have observed through your life experiences to help explain economic concepts, choices, institutions, and events. Interesting case studies in the book and online, the latest research findings, and focused examples offer genuine insight into how economic principles work in today's world. A friendly writing style is enhanced by learning features that make the material clear and more direct. Understandable graphs and exhibits include captions that summarize key points for review, color-coded curves, and helpful labels for clarification. More challenging graphs in the book are built one step at a time using new Progression Graphs online software. Powerful learning tools, such as online Aplia® and MindTap, further improve your understanding of economics and its relevance to your success.
1. The Art and Science of Economic Analysis.
2. Some Tools of Economic Analysis.
3. Economic Decision Makers.
4. Demand, Supply, and Markets.
5. Elasticity of Demand and Supply.
6. Consumer Choice and Demand.
7. Production and Cost in the Firm.
8. Perfect Competition.
9. Monopoly.
10. Monopolistic Competition and Oligopoly.
11. Resource Markets.
12. Labor Markets and Labor Unions.
13. Capital, Interest, Entrepreneurship, and Corporate Finance.
14. Transaction Costs, Asymmetric Information, and Behavioral Economics.
15. Economic Regulation and Antitrust Policy.
16. Public Goods and Public Choice.
17. Externalities and the Environment.
18 Poverty and Redistribution.
19. Introduction to Macroeconomics.
20. Tracking the U. S. Economy.
21. Unemployment and Inflation.
22. U.S. Productivity and Growth.
23. Aggregate Demand.
24. Aggregate Supply.
25. Fiscal Policy.
26. Federal Budgets and Public Policy.
27. Money and the Financial System.
28. Banking and the Money Supply.
29. Monetary Theory and Policy.
30. The Policy Debate: Active or Passive?
31. International Trade.
32. International Finance.
33. Economic Development.
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William A. McEachern
Dr. William A. McEachern began teaching large sections of economic principles shortly after joining the University of Connecticut. Several years later he began offering teaching workshops around the country. The University of Connecticut Alumni Association conferred on him its Faculty Excellence in Teaching Award in 2000. He earlier won the Association's award for Distinguished Public Service. Dr. McEachern has published books and monographs on public finance, public policy, and industrial organization, including MANAGERIAL CONTROL AND PERFORMANCE (D.C. Heath and Company). His research has also appeared in edited volumes, such as READINGS IN PUBLIC CHOICE ECONOMICS (University of Michigan Press), INTERNATIONAL HANDBOOK ON TEACHING AND LEARNING ECONOMICS (Edward Elgar Publishing), and RETHINKING ECONOMIC PRINCIPLES (Irwin Publishing), He has also published in a variety of refereed journals, including Economic Inquiry, National Tax Journal, Quarterly Review of Economic and Business, Journal of Industrial Economics, Kyklos, Econ Journal Watch, and Public Choice. His principles of economics textbooks have been translated into Spanish, Chinese, and Bahasa Indonesia, and have been adapted for Australia and for India. He is the founding editor of THE TEACHING ECONOMIST, a newsletter that for a quarter of a century has focused on teaching economics at the college level. Dr. McEachern has advised federal, state, and local governments on policy matters and has been quoted in media such as the New York Times, Times of London, Wall Street Journal USA Today and Reader's Digest. He, earned an undergraduate degree with honors from College of the Holy Cross, served three years as a U.S. Army officer, and earned an M.A. and Ph.D. in economics from the University of Virginia.
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THE MOST RECENT EXAMPLES AND RELEVANT, SUPPORTING RESEARCH KEEP STUDENTS ENGAGED. To help your students better understand economic concepts, updates to examples and research published since the previous edition went to press are presented in simple, clear language. All examples keep economic material engaging and relevant to your students' lives. Brief definitions, section titles, exhibit titles, and captions are direct and to the point to keep students' attention.
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OVERARCHING THEME HIGHLIGHTS THE IMPACT OF TECHNOLOGY IN ALL ASPECTS OF ECONOMIC LIFE. From Spotify or the price elasticity of e-books to smart apps for tracking fitness and nutrition or the effect of the Internet on labor productivity, this edition discusses how technological developments directly impact production, employment, sales, and consumption.
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EMPHASIS ON TODAY'S MOST RECENT RESEARCH REINFORCES KEY ECONOMIC PRINCIPLES. This edition draws on recent research to stimulate your students' interest, to reinforce economic principles, and, in a few cases, to offer an alternative perspective. The edition cites and discusses more than 150 studies published after the previous edition went to press. The author has selected these studies from his review of more than a thousand relevant publications.
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NEW TOPICS INTRODUCE FRESH ECONOMICS PERSPECTIVES. Students examine not-for-profit hospitals that employ more people than some major corporations; how easy online price comparisons have made demand more price sensitive; and how strong brand loyalty passes across family generations. They also study why labor unions have failed in high-tech industries ; how job loss can negatively impact health; how stronger know-how increases output; how pawn shop have grown by 50 percent since 2008's financial crisis; and how developing economies present challenges for franchise operators, such as KFC.
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NEW PROGRESSION GRAPHS ONLINE SOFTWARE HELPS CLARIFY UNDERSTANDING. Students can now build the more challenging graphs in the book one step at a time using the book's new online software, Progression Graphs.
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NEW TOPICS INTRODUCE FRESH ECONOMICS PERSPECTIVES. You examine not-for-profit hospitals that employ more people than some major corporations; how easy online price comparisons have made demand more price sensitive; and how strong brand loyalty passes across family generations. You also study why labor unions have failed in high-tech industries ; how job loss can negatively impact health; how stronger know-how increases output; how pawn shop have grown by 50 percent since 2008's financial crisis; and how developing economies present challenges for franchise operators, such as KFC.
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NEW EXAMPLES KEEP ECONOMIC PRINCIPLES RELEVANT TO YOUR PERSONAL EXPERIENCES. As a way of grounding economic principles using your individual experience, McEachern has introduced more than 150 fresh, relevant examples in this edition.
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NEW PROGRESSION GRAPHS ONLINE SOFTWARE HELP CLARIFY UNDERSTANDING. You can now build the more challenging graphs in the book one step at a time using the book's new online software, Progression Graphs.
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NEW "CHECKPOINT QUESTIONS" HELP ENSURE RECALL. These useful "Checkpoint Questions" appear after each major section to help you evaluate how well you recall and understand the material that you've just read.
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BOOK IS FULLY INTEGRATED WITH APLIA®, THE MOST SUCCESSFUL ONLINE PRODUCT FOR ECONOMICS. Aplia® offers interactive tools to help better prepare economics students. For you, the instructor, Aplia® provides access to high-quality, auto-graded assignments that ensure your students put forth effort on a regular basis throughout the term.
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MINDTAP® OFFERS A PERSONALIZED TEACHING EXPERIENCE THAT GUIDES STUDENTS IN ANALYZING, APPLYING, AND IMPROVING THINKING. Measure skills and outcomes with ease. Personalized teaching becomes yours through a Learning Path built with key student objectives and your syllabus in mind. Control what students see and when they see it. Relevant readings, multimedia, and activities take students from basic knowledge to analysis and application. Analytics and reports provide a snapshot of class progress, time in course, engagement and completion rates.
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CLEAR, COLOR-CODED GRAPHS ENHANCE UNDERSTANDING. Special care has been taken to ensure all graphics are understandable with curves that are systematically color-coded to enhance student understanding.
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"TO REVIEW" ENSURES STUDENT COMPREHENSION. These helpful sections sum up lengthy concepts. Brief one-sentence questions, inserted into the flow of the text, make certain that students comprehend what they're studying and are ready to continue through the material.
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MCEACHERN LEADS BY EXAMPLE. The author introduces each economic idea by using common everyday student experiences to bridge the gap between what students already know and the unfamiliar world of economics.
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"CHECKPOINT QUESTIONS" HELP ASSESS RECALL. After each major section, your students are asked a key "Checkpoint Question" to help evaluate how well they recall and understand what they just read.
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END-OF-CHAPTER QUESTIONS AND PROBLEMS ARE CLEARLY IDENTIFIED BY CHAPTER CONCEPTS. These questions and problems that correspond with major concepts give you flexibility for easier assignments while helping students find the specific material they need to review if a question or problem gives them difficulty.
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WEALTH OF CLARIFYING EXHIBITS REINFORCE KEY IDEAS .This edition includes numerous, beneficial visuals that keep your interest while clarifying concepts. Graphs are clear and use curves that are systematically color-coded to enhance your understanding.
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EASILY PROGRESS FROM SECTION TO SECTION AND CHAPTER TO CHAPTER. Each section ends with a summary and "Checkpoint Question" that help you check your comprehension before continuing forward in the chapter.
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BOOK INTRODUCES EACH ECONOMIC IDEA BY USING COMMON EVERYDAY EXPERIENCES. This unique approach that connects economic principles to familiar information helps bridge the gap between what you already know and the unfamiliar world of economics.
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END-OF-CHAPTER MATERIAL MAKES REVIEW SIMPLE. All questions and problems at the end of each chapter are labeled with the corresponding chapter concepts to help you identify any material you may need to review as you prepare for your next exam.
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