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Issues in Economics Today by Robert Guell

ISBN10: 1265183325 | ISBN13: 9781265183325

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Ignite discussion. Connect theory to headlines. Inspire critical thinking. Guell’s Issues in Economics Today brings economics to life through an engaging, conversational style that makes complex ideas accessible and relevant. Designed for both first-year survey courses and upper-level social science students, this text blends eight intensive core theory chapters with forty shorter issues-based chapters, allowing maximum flexibility for instructors. Whether your goal is to spark debate, connect economics to current events, or structure your course around a theme, Guell’s issues-based format ensures that students walk away with the essential theory and the insight to apply it to the world around them.

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  • Issues for Different Course Themes
  • Required Theory Table
  • 1. Economics: The Study of Opportunity Cost
  • 2. Supply and Demand
  • 3. The Concept of Elasticity and Consumer and Producer Surplus
  • 4. Firm Production, Cost, and Revenue
  • 5. Perfect Competition, Monopoly, and Economic versus Normal Profit
  • 6. Every Macroeconomic Word You Ever Heard: Gross Domestic Product, Inflation, Unemployment, Recession, and Depression
  • 7. Money, Interest Rates, and Present Value
  • 8. Aggregate Demand and Aggregate Supply
  • 9. Fiscal Policy
  • 10. Monetary Policy
  • 11. Federal Spending
  • 12. Federal Deficits, Surpluses, and the National Debt
  • 13. The Great Recession
  • 14. The COVID-19 Recession
  • 15. Is Economic Stagnation the New Normal?
  • 16. Is the (Fiscal) Sky Falling?: An Examination of Unfunded Social Security, Medicare, and State and Local Pension Liabilities
  • 17. International Trade: Does It Jeopardize American Jobs?
  • 18. International Finance and Exchange Rates
  • 19. The European Union, Debt Crisis, and Brexit
  • 20. Economic Growth and Development
  • 21. Are Trade Agreements Good for Us?
  • 22. The Economics of Terrorism
  • 23. The Line between Legal and Illegal Goods
  • 24. Natural Resources, the Environment, and Climate Change
  • 25. So You Want to Be a Lawyer: Economics and the Law
  • 26. The Economics of Crime
  • 27. Antitrust
  • 28. Health Care
  • 29. Government-Provided Health Insurance: Medicaid, Medicare, and the Children’s Health Insurance Program
  • 30. The Economics of Prescription Drugs and Vaccines
  • 31. The Economics of K–12 Education
  • 32. College Education: Why Is It So Expensive?
  • 33. The Economics of Sex, Race, and Ethnic Discrimination
  • 34. Income and Wealth Inequality: What’s Fair?
  • 35. Farm Policy
  • 36. Minimum Wage
  • 37. Rent Control
  • 38. Poverty and Welfare
  • 39. Head Start
  • 40. Social Security
  • 41. Personal Income Taxes
  • 42. Energy Prices
  • 43. If We Build It, Will They Come? And Other Sports Questions
  • 44. The Stock Market and Crashes
  • 45. Unions
  • 46. The Economics of Big Retail: Walmart and Amazon
  • 47. The Economic Impact of Casino and Sports Gambling
  • 48. The Economics of Invention and Innovation

About the Author

Robert Guell

Dr. Robert C. Guell (pronounced “Gill”) is a professor of economics at Indiana State University in Terre Haute, Indiana. He earned a B.A. in statistics and economics in 1986 and an M.S. in economics one year later from the University of Missouri–Columbia. In 1991, he earned a Ph.D. from Syracuse University, where he discovered the thrill of teaching. He has taught courses for freshmen, upper-division undergraduates, and graduate students from the principles level, through public finance, all the way to mathematical economics and econometrics. 

Dr. Guell has published numerous peer-reviewed articles in scholarly journals. He has worked extensively in the area of pharmaceutical economics, suggesting that the private market’s patent system, while necessary for drug innovation, is unnecessary and inefficient for production. 

In 1998, Dr. Guell was the youngest faculty member ever to have been given Indiana State University’s Caleb Mills Distinguished Teaching Award. His talent as a champion of quality teaching was recognized again in 2000 when he was named project manager for the Lilly Project to Transform the First-Year Experience, a Lilly Endowment–funded project to raise firstyear persistence rates at Indiana State University. He was ISU’s Coordinator of First-Year Programs until January 2008, when he happily stepped aside to rejoin his department full time. 

Dr. Guell’s passion for teaching economics led him to request an assignment with the largest impact. The one-semester general education basic economics course became the vehicle to express that passion. Unsatisfied with the books available for the course, he made it his calling to produce what you have before you today—an all-in-one readable issues-based text.

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