For 2-semester principles of economics courses.An intuitive and grounded approach to economics
Economics gets students to think like economists by incorporating the latest policy, data and discussions on important global issues.
The 14th Edition emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. Hallmark features in the chapter openings and endings encourage students to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to, and deeper understanding of, today's events.Hallmark features of this titleConcepts connect to economics in the real world
- Economics in Action and Economics in the News boxes have students link models and chapter tools to the economic world around them.
- Interviews with Economists feature leading economists from diverse backgrounds who share what inspired them to pursue a career in economics.Ample opportunities for practice
- Worked Problems, consisting of questions, solutions and key figures, help students to learn-by-doing and to actively, rather than passively, review the chapter content.
- In-text Review Quizzes reinforce major concepts and test students' knowledge of the topics just discussed.New and updated features of this titleCoverage of the impact of a changing microeconomic market
- NEW: Chapter 1 has a new section on the under-representation of women and minorities in economics.
- NEW: 6 chapters examine COVID-19, including its effects on the production possibilities frontier (Ch. 2) and on the hand sanitizer market (Ch. 3), movie streaming in the pandemic (Ch. 8), and more.
- NEW: Other notable discussions and examples include analysis of a $15 minimum wage (Ch. 6) and of the effects of a tax on sugary drinks (Ch. 9), a look at Amazon's distribution center decisions (Ch. 11), and more.Coverage of the impact of a changing macroeconomic market
- UPDATED: All chapters are updated to include the latest data on the labor market and price indexes (Ch. 22), economic growth (Ch. 23), interest rates and loanable funds (Ch. 24), the exchange rate and balance of payments (Ch. 26), and more.
- NEW: 8 chapters have an analysis of news reports about the macro effects of COVID-19 and the policy responses it triggered. These include measuring unemployment (Ch. 22), inventories in the Covid recession (Ch. 28), post-Covid inflation fears (Ch. 29), and more.
- NEW: Other changes include an explanation of the Fed's new operating procedures, the growth of 'fintec' in financial markets (Ch. 24), and currency manipulation (Ch. 26).Features of MyLab Economics for the 14th Edition
- NEW: Economics in the News stories at the end of each chapter are updated on a semesterly basis to provide currency and relevance to real-world applications.
- NEW: With Podcast Exercises, students listen to a podcast and then answer questions about the economic principles covered within.
- Animated graphs accompany key graphs and figures. They help students grasp concepts such as shifts in curves, movements along curves and changes in equilibrium values.
- Digital Interactives are dynamic, engaging assessment activities that promote critical thinking and the application of key economic principles.
- Chapter R Review Questions are a rich array of assignable and auto-graded exercises covering fundamental math concepts. They aim to increase student confidence and success.
- Experiments are an easy-to-use, fun, and engaging way to promote active learning and mastery of important economic concepts.