Essentials of Economics 13 9780073511450
Essentials of Economics

Essentials of Economics

Grade Levels: 13
By Stanley Brue and Campbell McConnell and Sean Flynn
Copyright: 2014
Publication Date: January 9, 2013
MHID: 0073511455
ISBN 13: 9780073511450

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New Features

New Discussions of the Financial Crisis and the Recession help students see the relevance of economic models to what they are seeing in the news and perhaps experiencing in their own lives.

New and Updated “Illustrating the Idea” and “Applying the Analysis” Pieces drive home central economic ideas in a student-oriented, real-world manner. New content includes the analysis of the effects of rising gas prices on companies like FedEx and Symantec,and an illustration of federal versus state and local spending.

Consolidated Material on Wage Determination and Income Inequality and Poverty and moved online to provide more emphasis on core chapters and provide flexibility for customisation.

Correlation Guide:

This convenient guide matches the units in Annual Editions: Economics, 37/e with the corresponding chapters in three of our best-selling McGraw-Hill Economics textbooks by Brue/McConnell/Flynn, Guell, and Schiller/Hill.

Key Features

Connect Economics: McGraw-Hill's online assignment and assessment tool Connect Economics provides assignable, autogradable versions of end-of-chapter problems in static and algorithmic format, as well as test bank content and graphing problems. Assignable content within Connect includes:

  • End-of-chapter problems
  • Algorithmic versions of select problems
  • Test Bank
  • Graphing Tutorial & Math Prep prerequisite assignments
  • Pre-built assignments
  • LearnSmart
  • Video Cases
  • Self-Quiz & Study (built-in study guide)
  • An integrated eBook, allowing for anytime, anywhere access to the text.
  • Dynamic links between problems or questions and the location in the eBook where that problem or question is covered.
  • A powerful search function to pinpoint and connect key concepts.
  • Extensive reporting across categories such as Learning Objectives, AACSB criteria, and Bloom's Taxonomy, among others.

    Topic-based LearnSmart Study Modules: LearnSmart's adaptive self-study technology within Connect provides students with a seamless combination of practice, assessment, and remediation for core concepts in the course.

    A Distinct and Unique Book; Not a “Cut and Paste” of McConnell/Brue/Flynn: Brue/McConnell/Flynn thoroughly reworks all topics so that chapter order, level of difficulty, and readability are more appropriate for the faster-paced essentials course.

    Many Real-World Examples: Brue/McConnell/Flynn places a strong emphasis on real-world examples. “Illustrating the Idea” features use analogies, examples, and anecdotes to illustrate theory. For example, public goods and the free-ride problem are illustrated by public art, while a pizza analogy walks students through the equity-efficiency tradeoff. In the essentials course where there is limited time to linger over topics, such discussions help students learn more quickly and breathe some life into what can otherwise be tedious discussions.

    Interesting, Memorable Applications: “Applying the Analysis” walk students through economic theories and ideas to cement comprehension. For example, the basics of the economic perspective are applied to why customers tend to try to wait in the shortest checkout lines. Differences in elasticity of supply are contrasted by the changing prices of antiques versus reproductions.

  • Essentials of Economics

    PART ONE: Introduction

    1 Limits, Alternatives, and Choices

    2 The Market System and the Circular Flow

    PART TWO: Price, Quantity, and Efficiency

    3 Demand, Supply, and Market Equilibrium

    4 Elasticity of Demand and Supply

    5 Market Failures: Public Goods and Externalities

    PART THREE: Product Markets

    6 Businesses and Their Costs

    7 Pure Competition

    8 Pure Monopoly

    9 Monopolistic Competition and Oligopoly

    Web Chapter A: Wage Determination

    Web Chapter B: Income Inequality and Poverty

    PART FOUR: GDP, Growth and Instability

    10 GDP and Economic Growth

    11 Business Cycles, Unemployment, and Inflation

    12 Aggregate Demand and Aggregate Supply

    13 Fiscal Policy, Deficits, and Debt

    PART FIVE: Money, Banking, and Monetary Policy

    14 Money, Banking, and Financial Institutions

    15 Interest Rates and Monetary Policy

    PART SIX: International Economics

    16 International Trade and Exchange Rates

    About the Author

    Stanley Brue

    Stanley L. Brue did his undergraduate work at Augustana College (South Dakota) and received its Distinguished Achievement Award in 1991. He received his Ph.D. from the University of Nebraska–Lincoln. He is a professor at Pacific Lutheran University, where he has been honored as a recipient of the Burlington Northern Faculty Achievement Award. Professor Brue has also received the national Leavey Award for excellence in economic education. He has served as national president and chair of the Board of Trustees of Omicron Delta Epsilon International Economics Honorary. He is coauthor of Economic Scenes, Fifth edition (Prentice-Hall), Contemporary Labor Economics, Seventh edition, Essentials of Economics, First edition (both The McGraw-Hill Companies), and The Evolution of Economic Thought, Seventh edition (South-Western).

    Campbell McConnell

    Campbell R. McConnell earned his Ph.D. from the University of Iowa after receiving degrees from Cornell College and the University of Illinois. He taught at the University of Nebraska-Lincoln from 1953 until his retirement in 1990. He is also coauthor of Contemporary Labor Economics, Seventh edition, and Essentials of Economics, First edition (both The McGraw-Hill Companies), and has edited readers for the principles and labor economics courses. He is a recipient of both the University of Nebraska Distinguished Teaching Award and the James A. Lake Academic Freedom Award, and is past-president of the Midwest Economics Association. Professor McConnell was awarded an honorary Doctor of Laws degree from Cornell College in 1973 and received its Distinguished Achievement Award in 1994.

    Sean Flynn

    Sean is an assistant professor of economics at Scripps College in Claremont, California. He is the author of the international best seller "Economics for Dummies" as well as the coauthor, along with Campbell McConnell and Stanley Brue, of the world's best-selling college economics textbook, "Economics: Principles, Problems, and Policies".
    An avid martial artist, Sean is a former Aikido national champion and has coached five of his students to U.S. national aikido titles.
    A recurring commentator on FOX Business, ABC News, and NPR, Sean holds a B.A. in economics from the University of Southern California and a Ph.D. in economics from U.C. Berkeley, where he completed his dissertation under the supervision of Nobel Laureate George Akerlof.
    Sean's research focuses on the often puzzling and seemingly irrational behavior of stock market investors, but he's also investigated topics as wide-ranging as the factors that affect customer tipping behavior at restaurants and why you see a lot of unionized workers only in certain industries.