Foundations of Economics:International EditionDescription |
Economics is a subject you learn by doing. Foundations of Economics breaks the mold of a traditional text and becomes a practice-oriented learning system. Each chapter uses a Checklist to focus students' attention on the most important key concepts. A discrete section introduces each of these core concepts and is immediately followed by a Checkpoint, a full page of practice that applies the concept. The result is a patient, confidence-building approach that prepares students to use economics in their lives, regardless of what their future career will be.
Many instructors turn to online assessment in MyEconLab as a way to encourage practice without needing to grade homework by hand. Bade and Parkin have written online versions of their Checkpoints and end-of-chapter problems in MyEconLab so that there is complete synchronicity between the content online and in the text.
Preview online! An interactive tour of Foundations of Economics, Fourth Edition, is available here. |
|
Features |
- Focus on core concepts: Each chapter focuses students' attention on 3-5 key concepts so students understand how the various details fit back into the larger picture.
- Learn by doing: Foundations of Economics and its accompanying print and online resources are structured to encourage learning by doing. Within the text, a Checklist-Checkpoint system provides a practice-oriented framework:
- Checklists begin each chapter to preview the 3-5 key ideas students need to know, and the chapter is broken into discrete sections devoted to each of those ideas.
- Checkpoints follow each of those sections and provide a full page of practice. Each Checkpoint includes a practice problem with a guided solution and a parallel exercise for the student to try.
- Chapter Checkpoints end each chapter and include a summary of key points and key terms, as well as additional practice opportunities consisting of problems and exercises, news analysis questions, critical thinking questions, and Web exercises that require students to find data and information online to answer discussion questions.
- In-text problems, assignable online in MyEconLab: Bade and Parkin are the only economics authors who write their own content in an online assessment platform. For Foundations of Economics, here are a few examples of what they wrote for Pearson's online assessment and tutorial system, MyEconLab:
- Checkpoints in the text are available for students to practice online in MyEconLab. Checkpoint problems appear in study mode where students can work them using tutorial learning aids as needed. Checkpoint exercises are available in a self-test mode so students are encouraged to work them independently before getting feedback.
- NEW! News Analysis Questions are found in the end-of-chapter material and online in MyEconLab. These questions ask students to interpret a news story then answer related questions that apply economic concepts.
- End-of-chapter problems and exercises are also developed as auto-graded questions in MyEconLab. Instructors can assign end-of-chapter problems online-even problems with graphing, fill-in-the-blank, and numerical entries.
- Economics in the News is updated every day during the school year by the authors themselves. Each entry provides a summary of the news, a link to the complete story, and discussion questions.
- Additional learning tools include audio-narrated animations, interactive graphs, customized feedback, and guided solutions.
- Instructors can encourage students to practice-without needing to grade by hand-by using MyEconLab.
- Professors can choose how much time-or how little-they want to spend setting up the course. View a sample of how instructors use MyEconLab here.
- Computer-graded graphing exercises help students become more comfortable and proficient working with economic graphs and models.
- Online homework, quizzes, and tests are easy to assign, allowing instructors to build assessments using a mix of MyEconLab-specific problems, Test Bank questions, and questions written by the instructor using the Econ Exercise Builder.
- A robust gradebook tracks students' performance on online homework, quizzes, tests, and problems worked in the Study Plan.
- Supplements are reliable and easy to use because they align with the same Checklist-Checkpoint structure found in the text. A complete suite of instructor supplements is available, including an Instructor's Manual, a new Solutions Manual, three Test Banks, PowerPoint® lecture slides, and an Instructor's Resource CD-ROM.
- For the Fourth Edition, the supplements are thoroughly revised to ensure usability.
- New Test Bank questions include graphing questions and integrative questions in each chapter.
- All components of the supplements are organized by Checkpoint topic so students can move easily through the textbook, MyEconLab, and the Study Guide, and instructors can navigate among the textbook, MyEconLab, the PowerPoint lecture slides, the Instructor's Manual, and the Test Banks.
- Three separate Test Banks are available, with more than 12,000 multiple-choice, numerical, fill-in-the-blank, short-answer, and essay questions, plus integrative questions that build on material from more than one Checkpoint and more than one chapter.
- The Test Bank authors also wrote questions for the Study Guide to ensure consistency.
- News analysis and data-driven problems at the end of each chapter include:
- News-based end-of-chapter questions that give news summaries and ask students to apply economics to the news.
- Web exercises that ask students to seek out real data on the web and use it to answer questions.
- Modern micro and macro topics are presented at an accessible level that uses contemporary examples to tie theory into the real world.
|
|
|
New to this Edition |
- Changes to the micro chapters include:
- A new chapter, Uncertainty and Information, is added to Part 6 before Chapter 20, Inequality and Poverty.
- Regulation and antitrust content is distributed throughout monopoly and oligopoly chapters.
- A substantial revision to the factor markets and labor chapters includes adding coverage of labor unions and moving coverage of non-renewable resources to section 18.5.
- Coverage of international trade is earlier, as Chapter 9, Global Markets in Action. This chapter now uses welfare analysis in its discussion.
- Changes to the macro chapters include:
- The CPI and the Cost of Living (now Chapter 22) is moved before Jobs and Unemployment (now Chapter 23).
- Economic Growth (now Chapter 25) is moved before Investment, Saving, and the Real Interest Rate (now Chapter 26) for a more natural transition into the money chapters in Part 9.
- Coverage of loanable funds is added to Chapter 26, Investment, Saving, and the Real Interest Rate.
- The money chapters are streamlined into a single chapter-Chapter 27, The Monetary System-that focuses on monetary institutions and consists of content from Chapters 26 and 27 from the Third Edition (Money and the Monetary System and Money Creation and Control).
- Chapter 28, Money, Interest, and Inflation, is more modern, now updated to reflect what's happening at the Fed today-the goals, intermediate targets, and instruments of monetary policy.
- Changes to overall pedagogy include:
- A new feature, Eye On Your Life, explores student-oriented applications of economics in everyday life.
- Applications are revised to be even more relevant, modern, and appealing to students.
- News analysis questions appear in the end-of-chapter problems, giving students a news summary and asking them to apply economic concepts to an issue or event.
- New content within MyEconLab includes:
- News analysis questions from the text are assignable in MyEconLab, asking students to read a news story and then answer problems that are numerical, graphing, fill-in-the-blank, and multiple-choice.
- Problem sets are substantially revised and updated to be even more synchronous with the problems in the text. Checkpoints and end-of-chapter problems in the text more accurately reflect MyEconLab's question format. End-of-chapter questions and checkpoint problems are available in MyEconLab.
|
|
|
Table of Contents |
Part 1 Introduction
Chapter 1 Getting Started
Chapter 2 The U.S. and Global Economies
Chapter 3 The Economic Problem
Chapter 4 Demand and Supply
Part 2 A Closer Look at Markets
Chapter 5 Elasticities of Demand and Supply
Chapter 6 Efficiency and Fairness of Markets
Part 3 How Governments Influence the Economy
Chapter 7 Markets in Action
Chapter 8 Taxes
Chapter 9 Global Markets in Action
Chapter 10 Externalities
Chapter 11 Public Goods and Common Resources
Part 4 A Closer Look at Decision Makers
Chapter 12 Consumer Choice and Demand
Chapter 13 Production and Cost
Part 5 Prices, Profits, and Industry Performance
Chapter 14 Perfect Competition
Chapter 15 Monopoly
Chapter 16 Monopolistic Competition
Chapter 17 Oligopoly
Part 6 Incomes, Uncertainty, and Inequality
Chapter 18 Demand and Supply in Factor Markets
Chapter 19 Uncertainty and Information
Chapter 20 Inequality and Poverty
Part 7 Monitoring the Macroeconomy
Chapter 21 GDP and the Standard of Living
Chapter 22 The CPI and the Cost of Living
Chapter 23 Jobs and Unemployment
Part 8 The Real Economy
Chapter 24 Potential GDP and the Natural Unemployment Rate
Chapter 25 Economic Growth
Chapter 26 Investment, Saving, and the Real Interest Rate
Part 9 The Money Economy
Chapter 27 The Monetary System
Chapter 28 Money, Interest, and Inflation
Part 10 Economic Fluctuations
Chapter 29 AS-AD and the Business Cycle
Chapter 30 Aggregate Expenditure
Chapter 31 The Short-Run Policy Tradeoff
Part 11 Macroeconomic Policy
Chapter 32 Fiscal Policy
Chapter 33 Monetary Policy
Chapter 34 International Finance
|
|
|
Author |
Robin Bade was an undergraduate at the University of Queensland, Australia, where she earned degrees in mathematics and economics. After a spell teaching high school math and physics, she enrolled in the PhD program at the Australian National University, from which she graduated in 1970. She has held faculty appointments at the University of Edinburgh in Scotland, at Bond University in Australia, and at the Universities of Manitoba, Toronto, and Western Ontario in Canada. Her research on international capital flows appeared in the International Economic Review and the Economic Record.
Robin first taught the principles of economics course in 1970 and has taught it (alongside intermediate macroeconomics and international trade and finance) most years since then. She developed many of the ideas found in this text while conducting tutorials with her students at the University of Western Ontario.
Michael Parkin studied economics in England and began his university teaching career immediately after graduating with a BA from the University of Leicester. He learned the subject on the job at the University of Essex, England's most exciting new university of the 9160s, and at the age of 30 became one of the youngest full professors. He is a past president of the Canadian Economics Association and has served on the editorial boards of the American Economic Review and the Journal of Monetary Economics. His research on macroeconomics, monetary economics, and international economics has resulted in more than 160 publications in journals and edited volumes, including the American Economic Review, theJournal of Political Economy, theReview of Economic Studies, theJournal of Monetary Economics, and theJournal of Money, Credit, and Banking. He is the author of the best-selling Addison-Wesley textbook, Economics.
Robin and Michael are a wife-and-husband duo. Their most notable joint research created the Bade-Parkin Index of central bank independence and spawned a vast amount of research on that topic. They don't claim credit for the independence of the new European Central Bank, but its constitution and the movement toward greater independence of central banks around the world were aided by their pioneering work. They are dedicated to the challenge of explaining economics ever more clearly to an ever-growing body of students. |
|
|
|