A more focused book that covers additional key topics (including welfare economics and game theory), but is shorter than the third edition and has fewer chapters (15 as opposed to 17).
New material on excise taxes and demand and supply elasticity included in Chapter 3.
A new appendix at the end of Chapter 5 that deals with the basics of marginal productivity theory. The remaining discussion of resource markets has been moved to the Online Learning Centre.
New material on game theory (along with a new Advancing Economic Thought article on Thomas Schelling) included Chapter 6.
A revamped Chapter 7, which includes new material on welfare economics (on such topics as consumer and producer surplus), the discussion of spill over effects previously in Chapter 3, and the discussion of income equity previously in Chapter 8.
The consolidation of the discussion of economic growth in Chapter 10, with the material on economic development now moved to the Online Learning Centre.
More numerical questions in some of the chapters, and a new 'key graphs' feature, in which important graphs in each chapter are enlarged for ease of use.
Skills Resource: focuses on the basics of critical thinking, the use of economic language and visual materials, research, and ways of presenting findings
Learning Objectives: introduce the content students are to learn and reinforced through the text with an icon found in the margin adjacent to the text where concepts are covered.
Thinking About Economics: appearing in each chapter are accompanied by questions to provoke student thinking and discussion, answers to these questions are provided om the Online Learning Centre.
Margin definitions: define key terms highlighted in the text.
In the body of each chapter, issues relating to the use of Economics as a second language are highlighted.
Brief Review: provides a brief summary of each section.
Practice Questions are at the end of each Brief Review and answers are provided on the Online Learning Centre.
Last Word: is a summarizing section appears at the end of each chapter.
Key Concepts: The list of key terms found at the end of the chapter can be used by students as a study aid to test their comprehension and retention.
Questions: are tied to the theoretical material in the book.
Internet Application Questions: provide practice in using economics-related resources on the Internet.
Advancing Economic Thought: details the ideas of an influential thinker of the past or the present and allows students to judge their contemporary relevance.
Sideline articles: both in the book and on the Online Learning Centre deal with a wide range of economic issues.
To obtain an instructor login for this Online Learning Center, ask your local sales representative.
If you're an instructor thinking about adopting this textbook, request a free copy for review.
2007 McGraw-Hill Higher Education