Description
Mateer and Coppock's approach teaches economic decision-making with applications that students will remember.
Mateer and Coppock, leading researchers in Economics teaching who have consistently taught Principles over a combined forty-plus years, brought their innovative teaching experiences to this blockbuster text. They put economics into context by making it relatable through carefully crafted real-world examples, a problem-solving pedagogy that emphasizes economic decision-making, and a voice that speaks directly to students.
Key Features
RELATABLE EXAMPLES THAT ENGAGE STUDENTS
Mateer and Coppock firmly believe that helping students see how their lives are affected by economics is critical to effective teaching. They include real-world examples throughout the text's key features: Practice What You Know; Economics in the Real World; Economics in the Media; and Economics for Life.
TEACHES STUDENTS HOW TO APPLY ECONOMIC CONCEPTS TO DECISION-MAKING
Icons explained in Chapter 1 are then used throughout the text to help students connect five foundational concepts that drive economics decision-making: incentives, trade-offs, opportunity cost, marginal thinking, and trade-created value. "Practice What You Know" features in every chapter teach student to check their understanding, learn how to solve a problem, and make a decision or judgment (often relying on the use of associated mathematics). At the end of each chapter, Mateer and Coppock provide Study Problems (increased in the Second Edition) as well as three Solved Problems—a unique feature of our text—that engages students in applying chapter concepts to real economic problems.
PRECISE ECONOMICS IN EXACTLY THE RIGHT AMOUNT OF DETAIL
Every graph in the text and in Smartwork5 uses colors in a consistent manner to help students easily identify common elements. For example, supply is always red, demand is always blue, and profit is always green. Where appropriate, equations are provided throughout the text. In the Practice What You Know and Solved Problem features, students are given mathematical information to support written explanations. Along with the essentials of the discipline, Mateer and Coppock cover topics more modern or advanced but at the appropriate level. Topics include Behavioral Economics, Health Insurance and Health Care, Growth, and International Finance.
THE ULTIMATE TEACHING PACKAGE FOR INSTRUCTORS, BY INSTRUCTORS
Norton provides a suite of online study and practice materials to meet the needs and objectives of the instructor. Our Coursepack provides summative quizzing and study while InQuizitive provides formative, adaptive assessment. Smartwork5 online homework for Principles of Economics includes thousands of applied and book-specific concept and applied practice questions supported by an intuitive graphing tool and new Economics in the News questions. Designed with flexibility in mind, Smartwork5 helps instructors meet their course needs by allowing them to set up and edit assignments as they select questions. The Ultimate Guide contains more than 1,000 teaching tips developed by the authors. All of these tips are available in print and through a now fully searchable online instructor guide.
Table of Contents Part I Introduction
1) Five Foundations of Economics
2) Model Building and Gains from Trade
Part II The Role of Markets
3) The Market at Work: Supply and Demand
4) Elasticity
5) Market Outcomes and Tax Incidence
6) Price Controls
7) Market Inefficiencies: Externalities and Public Goods
Part III The Theory of the Firm
8) Business Costs and Production
9) Firms in a Competitive Market
10) Understanding Monopoly
11) Price Discrimination
12) Monopolistic Competition and Advertising
13) Oligopoly and Strategic Behavior
Part IV Labor Markets and Earnings
14) The Demand and Supply of Resources
15) Income, Inequality, and Poverty
Part V Special Topics in Microeconomics
16) Consumer Choice
17) Behavioral Economics and Risk Taking
18) Health Insurance and Health Care
Part VI Macroeconomic Basics
19) International Trade
20) Unemployment
21) The Price Level and Inflation
22) Savings, Interest Rates, and the Market for Loanable Funds
23) Financial Markets and Securities
Part VII The Long and Short of Macroeconomics
24) Economic Growth and the Wealth of Nations
25) Growth Theory
26) The Aggregate Demand-Aggregate Supply Model
27) The Great Recession, the Great Depression, and Great Macroeconomic Debates
Part VIII Fiscal Policy
28) Federal Budgets: The Tools of Fiscal Policy
29) Fiscal Policy
Part IX Monetary Policy
30) Money and the Federal Reserve
31) Monetary Policy
Part X International Economics
32) International Trade
33) International Finance
Lee Coppock, University of Virginia Dirk Mateer, University of Arizona