Overview: Written in an informal colloquial style, this student-friendly Principles of Economics textbook does not sacrifice intellectual depth in its quest for accessibility. The author’s primary concern is to instill “economic sensibility” in the student. Colander emphasizes the intellectual and historical context to which the economic models are applied. The seventh edition has been significantly revised to make it simpler, shorter, more organized and more applicable to the real world.
New Features:
Chapter dedicated to game theory and strategic thinking : Given the increasing importance of game theory in economic analysis, an introductory discussion on the topic has been moved to its own chapter (Chapter 14: Game Theory, Strategic Thinking, and Behavioral Economics). The game theory presentation is at a principles-appropriate level, giving students a flavor of the game theory approach and faculty an opening to go beyond what’s presented in the book.
Approach to monetary policy coverage : Coverage of the supply and demand for loanable funds and the supply and demand for money has been added to Chapter 27 to set up a discussion of the yield curve in Chapter 28. Chapter 28, Monetary Policy, now focuses on monetary policy and open market operations, reflecting the topics that are becoming central to discussions of monetary policy.
Revised chapter on fiscal policy and public finance : Fiscal policy is now the sole focus of Chapter 30, providing an overview of economists’ approach to fiscal policy from classical approach to the modern dynamic stochastic equilibrium approach.
Fully updated : To keep the text as relevant as possible, the facts, figures, and end-of-chapter questions have all been updated with the latest data and examples. Additionally, discussions have been revised to match current interests in the profession, keeping up with the evolution of the economy and economics.
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McGraw-Hill Enhanced Cartridge
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