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Economic Way of Thinking, The, 11/E
ISBN-10: 0131543695
ISBN-13: 9780131543690
Publisher: Prentice Hall
Copyright: 2006
Format: Paper; 576 pp
Published: 02/11/2005
Description
Primarily for a one-semester survey course in general economics.
The Economic Way of Thinking develops the basic principles of micro- and macroeconomic analysis, and employs them as tools rather than ends unto themselves. This text introduces students to a method of reasoning; to think like an economist through example and application. It even teaches by showing students how not to think, by exposing them to the errors implicit in much popular reasoning about economic events.
Features
Primarily for a one-semester survey course in general economics.
This is an issued based economics text that teaches students to think like economists not do economics.
Do you find your students plugging and chugging the equations, and not seeing the forest for the trees in this economic course? How do you overcome that in your current course?
Unique end of chapter material
~Stresses critical thinking exercises over formal modeling and number crunching. Promotes a conceptual understanding over a simple memorization of facts, definitions, and formulas.
Do your students get distracted by boxed material, and busy pedagogy? Do your students skip over “boxed applications”?
Streamlined, linear presentation of material.
~Employs a “less is more” philosophy, allowing students to focus as they read the text, and helps them see the big picture.
Applications integrated into the body of the text.
~Applications play an integral part in both conceptual learning and student motivation. Heyne strongly insisted that they were not to be relegated to “boxed applications”.
Do your students get frustrated trying to decipher complicated graphs, only to miss the concept in the end?
Clear, focused graphs, used only when necessary.
~Heyne strategically integrates graphs only when necessary, carefully focusing them on the point at hand.
~Students can quickly and easily interpret these graphs, and integrate them into their overall economic thinking framework.
Have you heard of Paul Heyne?
Respected co-authors—Peter Boettke (George Mason University) and David Prychitko (Northern Michigan University) remain true to Paul Heyne's style and wit. They continue the book's coordinationist themes, clear focus on property rights and its emphasis on the dynamic, informational characteristics of markets.
~Taking their cue from Paul Heyne’s innovative style of teaching economics, the authors use language that speaks to students, rather than dictating to them.
Do your students have a hard time with the concepts of Quantity Demanded and Quantity Supplied? How do you teach Quantity Demanded and Quantity Supplied?
Clarified the continuing theme in all previous editions–the market as a coordinating process. Quantities demanded and supplied are interpreted as plans among consumers and producers. Market clearing is discussed as a meshing of these plans.
~By making connections between different concepts and following a single continuous theme, students can get a clearer sense of the big picture and can better draw conclusions.
How do you incorporate International Issues in this course?
Data is incorporated from the Index of Economic Freedom in the discussion of the performance of economic systems. This emphasizes the argument that the security of property, freedom of contract, open trade and monetary and fiscal constraint are essential policy ingredients that explain why some countries perform well and others not so well.
~Gives students insight about international policy issues and how they affect the economic environment.
New To This Edition
Accomplishing more with less. The 11th edition offers a solid discussion and development of economic principles, and a wealth of probing, illuminating applications to the every day world around us.
~Provides students with more thinking, more application, and more insight–with less emphasis on formal modeling.
The concept and role of property rights is now introduced up front, in Chapter 1.
~This relevant issue is presented earlier because students have had or will have experience with it.
Chapter 2 on “Efficiency, Exhange, and Comparative Advantage now introduces the concept of economic efficiency. Also added is a new appendix introducing students to the issue of economic growth.
~A clearer discussion of economic "goods and bads" aids students in grasping these sometime confusing concepts.
Chapter 5, “Supply and Demand: A Process of Cooperation”, now features a new appendix on time preference and interest rates.
~Gives students a clearer understanding of supply and demand.
Minimum wage and agricultural price supports have been added to Chapter 6.
~Coverage of these topics, which are of interest to students, have been incorporated to promote relevance to students.
Chapter 19 on “National Policies and International Exchange” now contains a discussion on the globalization and outsourcing debates.
~These are two very hot topics in the current economic environment that ultimately may even have a direct effect on the student, thus peaking interest.
Chapter 20 on “Promoting Economic Growth” has a new appendix focusing on the difficulties of international comparisons.
~Offers a clearer understanding of how to categorize various economic states and make comparisons.
A new glossary has been added.
~Includes definitions of more than 100 terms used in the book to help students become acquainted with economic concepts and terminology.
Table of Contents
1. The Economic Way of Thinking
2. Efficiency, Exchange, and Comparative Advantage
3. Substitutes Everywhere: The Concept of Demand
4. Opportunity Cost and the Supply of Goods
5. Supply and Demand: A Process of Cooperation
6. Supply and Demand: Issues and Applications
7. Profit and Loss
8. Competition and Monopoly
9. Price Searching
10. Competition and Government Policy
11. The Distribution of Income
12. Externalities and Conflicting Rights
13. Markets and Government
14. The Overall Performance of Economic Systems
15. Employment and Unemployment
16. The Supply of Money
17. Monetary and Fiscal Policies
18. Economic Performance and Political Economy
19. National Policies and International Exchange
20. Promoting Economic Growth
21. The Limitations of Economics
Next Edition(s)
Heyne, Boettke & Prychitko
©2010 | Prentice Hall | Paper; 456 pp | Instock
ISBN-10: 0136039855 | ISBN-13: 9780136039853
Brief Description | More Info
Prychitko
©2006
|
Prentice Hall
|
On-line Supplement; 80 pp
|
Live
ISBN-10: 0131543717 |
ISBN-13: 9780131543713
|
| | | More Info |
Prychitko
©2006
|
Prentice Hall
|
On-line Supplement; 450 pp
|
Live
ISBN-10: 013154375X |
ISBN-13: 9780131543751
|
| | | More Info |
Heyne
©2006
|
Prentice Hall
|
On-line Supplement
|
Live
ISBN-10: 0131543741 |
ISBN-13: 9780131543744
URL: http://www.prenhall.com/heyne
|
| | | More Info |
Heyne
©2006
|
Prentice Hall
|
On-line Supplement
|
Live
ISBN-10: 0131543733 |
ISBN-13: 9780131543737
|
| | | More Info |
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