Principles of Economics

In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of attempting to teach a short list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. The authors introduce a coherent short list of core principles and reinforce them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles and to answer related questions and exercises. . .

The BRIEF editions were developed for instructors who appreciate the Frank And Bernanke approach, but desire a more manageable amount of content and slightly less rigor. In the brief editions, the authors made careful choices of material to eliminate and condense, in order to produce of more concise covereage..

Part I Introduction Ch 1 Thinking Like an Economist Ch 2 Comparative Advantage Ch 3 Supply and Demand Part II Competition and the Invisible Hand Ch 4 Elasticity Ch 5 Demand Ch 6 Perfectly Competitive Supply Ch 7 Efficiency, Exchange, and the Invisible Hand in Action Part III Market Imperfections Ch 8 Monopoly, Oligopoly, and Monopolistic Competition Ch 9 Games and Strategic Behavior Ch 10 Externalities and Property Rights Part IV Economics of Public Policy Ch 11 Using Economics to Make Better Policy Choices Part V Macroeconomics: Data and Issues Ch 12 Spending, Income, and GDP Ch 13 Inflation and the Price Level Ch 14 Wages and Unemployment Part VI The Economy in the Long Run Ch 15 Economic Growth Ch 16 Saving, Capital Formation, and Financial Markets Ch 17 The Financial System, Money, and Prices Part VII The Economy in the Short Run Ch 18 Short-Term Economic Fluctuations Ch 19 Spending and Output in the Short Run Ch 20 Stabilizing the Economy: The Role of the Federal Reserve Ch 21 Aggregate Demand, Aggregate Supply, and Macroeconomic Policy Part VIII The International Economy Ch 22 Exchange Rates, International Trade, and Capital Flows

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