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Introduction to Economic Reasoning, 6/E
William D. Rohlf, Jr., Drury College

ISBN-10: 0321238354
ISBN-13:  9780321238351

Publisher:  Prentice Hall
Copyright:  2005
Format:  Paper; 576 pp
Published:  04/29/2004


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Description

With its goal of turning students into educated, informed decision-makers, Rohlf's text provides a clear, concise introduction that offers a strong focus on the basic theories of economics.

Often praised as the most accessible one-semester text, Introduction to Economic Reasoning pairs coherent explanations with features that apply these concepts to current events and make them relevant to students' daily lives. All essential elements of macro and microeconomics are covered and carefully developed to avoid extraneous detail.


Features

  • "Using Your Economic Reasoning" features, built around current articles that have been selected for their relevance to the economic principles being discussed, prompt students to test their knowledge of economic principles.
  • Carefully and clearly developed explanations make economics accessible to the average student.
  • A study guide, including fill-in-the-blank and multiple choice questions (with answers) and problems and questions for discussion, appears at the end of each chapter of the text, increasing the likelihood that the study guide will be used, encouraging students to review the chapter to correct deficiencies.
  • The importance of marginal reasoning is developed at the personal level and then extended to business decision-making.
  • Potentially challenging topics such as the theory of rational expectations and game theory are presented in a manner that is accessible to the beginning student.
  • Important areas of debate are explored, while care is taken not to present economic analysis solely as a matter of opinion.


New To This Edition

  • Discussion of price supports and price ceilings has been moved from chapter 3 to chapter 4.
  • A reorganized Chapter 4, Applications Using Demand and Supply , integrates the discussion of the price elasticity of demand with applications such as excise taxes and subsidies. The discussion of the price elasticity of supply has been moved to an appendix.
  • Chapter 5, Costs and Decision Making , has been streamlined, blending the discussion of marginal reasoning with the analysis of production costs. The distinction between implicit and explicit costs has been clarified and illustrated with new examples.
  • A shortened, condensed Chapter 6, Price Taking: The Purely Competitive Firm, highlights key concepts with improved diagrams.
  • "Use Your Economic Reasoning" features, as well as other data and examples, have been updated throughout.
  • Expanded student exercises have been added to the companion Web site (http://www.aw-bc.com/rohlf).


Table of Contents

I. INTRODUCTION: SCARCITY AND THE ECONOMIC SYSTEM.

 1. The Study of Economics.

 2. Economic Systems.

II. MICROECONOMICS: MARKETS, PRICES, AND THE ROLE OF COMPETITION.

 3. Demand and Supply: Price Determination in Competitive Markets.

 4. Applications using Demand and Supply.

 5. Costs and Decision Making.

 6. Price Taking: The Purely Competitive Firm.

 7. Price Searching: The Firm with Market Power.

 8. Industry Structure and Public Policy.

 9. Market Failure.

III. MACROECONOMICS: THE ECONOMY AS A WHOLE.

10. Measuring Aggregate Performance.

11. Aggregate Demand and Supply: The Model of the Self-Correcting Economy.

12. Fiscal Policy.

13. Money, Banking, and Monetary Policy.

14. The Activist-Nonactivist Debate.

15. Economic Growth: The Importance of the Long Run.

IV. INTERNATIONAL ECONOMICS: TRADE, EXCHANGE RATES, AND THE BALANCE OF PAYMENTS.

16. International Trade.

17. International Finance.


Next Edition(s)

  • Introduction to Economic Reasoning, 8/E
    Rohlf
    ©2011  |  Prentice Hall  |  Paper; 552 pp  |  Instock
    ISBN-10: 0131368583  |  ISBN-13: 9780131368583
    Brief Description  |  More Info



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Computerized Test Bank, 6/E
Rohlf
©2005  |  Prentice Hall  |  Electronic Supplement; 0 pp  |  Available
ISBN-10: 0321320808  |  ISBN-13: 9780321320803

Show Downloadable Files
 | More Info

Online Workbook, 6/E
Rohlf
©2005  |  Prentice Hall  |  Electronic Supplement; 0 pp  |  Available
ISBN-10: 0321305140  |  ISBN-13: 9780321305145

Show Downloadable Files
 | More Info

PowerPoint Slides, 6/E
Rohlf
©2005  |  Prentice Hall  |  Electronic Supplement  |  Available
ISBN-10: 0321305132  |  ISBN-13: 9780321305138

Show Downloadable Files
 | More Info

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