Changes in the Sixth Edition of Slavin's Economics

There are two major changes in the seventh edition. The chapters on profit maximization and perfect competition were combined and we managed to cut over 100 pages.

Here are some of the new topics:

• Chapter 4: A new section on environmental pollution, including command-and-control regulations, incentivebased regulations, and an advanced work box, "Selling Emissions Rights in the Free Market."
• Chapter 6: Added box, "Why Incorporation Came Late to Islamic Middle Eastern Nations."
• Chapter 7: New section, "Recent Tax Legislation."
• Chapter 12: Added section, "Must we balance the budget every year?
• Chapter 16: Added box, "Why are healthcare costs so high?
• Chapter 19: Added section, "Some limitations of utility applications."
• Chapter 21: New section, "The Perfect Competitor: A Price Taker, Not a Price Maker."
• Chapter 25: Added section, "Corporate Misconduct."
• Chapter 27: New section, "Jobs: Exportable and Nonexportable."
• Chapter 28: Added section, "The Minimum Wage and the Living Wage."
• Chapter 29: New box, "Jay Sorensen, Inventor, Innovator, and Entrepreneur."
• Chapter 30: New box, "Going the Extra Mile."
• Chapter 31: Added box: "President Bush's Steel Tariff."

Two basic ways this book is different from all other principles texts is that it is a smoother read and it is interactive. The seventh edition improves on these features. Most of the really hard stuff is in Advanced Work boxes and appendices. This relatively difficult material can be skipped, or perhaps assigned for extra credit. The really easy stuff-for example, math that should have been learned in high school-is covered in Extra Help boxes. These boxes save professors hours of valuable class time.