New Features :

• New chapter feature: You Are Here: A Road Map for keeping each chapter in perspective. Too often students see a course as separate lectures with little connection between them. The Fourth edition includes a standard “circular flow” diagram in Chapter 1 to be used as a road map at the beginning of each subsequent chapter. At the introduction of each new chapter, an instructor can take a moment to show how the new material fits with the old.
• New Chapter 21, “So You Want to Be a Lawyer: Economics and the Law,” focuses on the areas where law is necessary for a thriving economy, such as contract enforcement, property rights, intellectual property rights, and bankruptcy. It then talks about the role of economists in civil liability cases.
• New Chapter 43, “Economic Growth and Development,” focuses on why already developed countries grow even further and contrasts that with the struggles that developing countries face in moving forward.
• Substantial revision for Chapter 13 (“International Trade: Does It Jeopardize American Jobs?”) and Chapter 17 (“The Environment”).
• New Narrated PowerPoint presentations written and reported the author, may be viewed on the OLC or downloaded to an iPod.
• Complimentary Study Guide! The formally salable supplement is now available to students at no charge on the Student Edition of the text website.
• Every data graph and table was updated to include the latest available information.