Pearson - Introduction to Economic Reasoning, 8/E

In this section:

Description

With a goal of encouraging students to become informed decision-makers, Introduction to Economic Reasoning, provides a non-technical, concise introduction to basic economic theories that is ideal for a one-semester course.

Features

The core of the text is economic theory, and all essential micro and macroeconomic concepts are included. Extraneous information is omitted so that more time can be devoted to the careful, patient development of the most important concepts.
Thoughtful, clear development of potentially challenging topics such as the theory of rational expectations and game theory make the concepts accessible to the beginning student.
A built-in 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.
A discussion of the price elasticity of demand, with applications such as excise taxes and subsidies, is integrated into Chapter 4, Applications Using Demand and Supply.
The discussion of marginal reasoning is blended with the analysis of production costs in chapter 5, Costs and Decision Making.
Expanded student exercises have been added to the companion website at www.aw-bc.com/rohlf.
The Instructor’s Manual and Test Bank, both created by the book’s author, William Rohlf, are cohesive with the book’s content, providing instructors with fluid transitions between supplements between the book and supplements.

New To This Edition

For the past two years, our newspapers and TV news reports have been dominated by the financial crisis and the accompanying economic downturn. Unemployment has reached levels not seen since the early 1980s, and policymakers have been forced to become creative in an attempt to get the economy moving again. As painful as this process has been, it has provided numerous examples for teachers and students of economics. This edition is designed to take advantage of those teaching and learning opportunities. Following are some of the changes incorporated in this edition that should stimulate interest and provide opportunities for classroom discussion:

Chapter Five uses a current news feature to examine the connection between “mortgage crisis” and the self-interest assumption that strengthens the economic analysis.
The connection between falling home prices and the overall health of the economy is discussed and illustrated in Chapter 11, including a look at how the natural instincts of consumers can serve to make the recession worse.
The unique policy problems posed by the 2008-2009 recession are examined in Chapters 12 and 13.
An appendix to Chapter 13 allows instructors to examine the role of bank capital requirements in explaining the financial crisis and the problems confronting Federal policymakers.
Chapter 15 examines the potential conflict between providing short-term stimulus and fostering long-run growth.
The discussion and description of foreign economic systems has been revised to reflect the ongoing changes in China, Russia, and elsewhere.
All the economic data contained in the text has been updated based on the most recent figures available from the Bureau of Labor Statistics, the Federal Reserve, the U.S. Census Bureau, and other official sources.
100% NEW—The Use Your Economics Reasoning articles, including all new discussion questions.

Table of Contents

Part 1 Introduction: Scarcity and the Economic System

Chapter 1: The Study of Economics
Chapter 2: Economic Systems

Part 2 Microeconomics: Markets, Prices, and the Role of Competition

Chapter 3: Demand and Supply: Price Determination in Competitive Markets
Chapter 4: Applications Using Demand and Supply
Chapter 5: Costs and Decision Making
Chapter 6: Price Taking: The Purely Competitive Firm
Chapter 7: Price Searching: The Firm with Market Power
Chapter 8: Industry Structure and Public Policy
Chapter 9: Market Failure

Part 3 Macroeconomics: The Economy as a Whole

Chapter 10: Measuring Aggregate Performance
Chapter 11: Aggregate Demand and Supply: The Model of the Self-Correcting Economy
Chapter 12: Fiscal Policy
Chapter 13: Money, Banking and Monetary Policy
Chapter 14: The Activist-Nonactivist Debate
Chapter 15: Economic Growth: The Importance of the Long Run

Part 4 International Economics: Trade, Exchange Rates, and the Role of Trade Agreements

Chapter 16: International Economics

Previous Edition(s)

Introduction to Economic Reasoning, 7/E
Rohlf
©2008 | Prentice Hall | Paper; 560 pp | Out of Print
ISBN-10: 0321416112 | ISBN-13: 9780321416117
Brief Description |
With a goal of encouraging students to become informed decision-makers, Introduction to Economic Reasoning, Seventh Edition, provides a non-technical, concise introduction to basic economic theories that is ideal for a one-semester course.

The Seventh Edition relates coherent explanations of general theories and models with thought-provoking, current features that apply and enliven core concepts. The hands-on economic reasoning approach promotes the idea that students can use economic analysis in their everyday lives to help them succeed in their careers and understand today’s global economic issues.
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In this section:

Author Bios

Author Bios

William D. Rohlf, Jr.,

Drury University (Springfield, MO)

In this section:

Instructor Resources

Downloadable Instructor Resources
Other Instructor Resources

Student Resources

Websites and online courses
Other student resources

Instructor's Manual (Download only) for Introduction to Economic Reasoning, 8/E
Rohlf
©2011 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0131368656 | ISBN-13: 9780131368651

PowerPoint Presentation (Download only) for Introduction to Economic Reasoning, 8/E
Rohlf
©2011 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0131368613 | ISBN-13: 9780131368613

Test Item File (Download only) for Introduction to Economic Reasoning, 8/E
Rohlf
©2011 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0131368664 | ISBN-13: 9780131368668

Test Item File (Download only) in Blackboard for Introduction to Economic Reasoning, 8/E
Rohlf
©2011 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0131368680 | ISBN-13: 9780131368682

Test Item File in WebCT (Download only) for Introduction to Economic Reasoning, 8/E
Rohlf
©2011 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0131368672 | ISBN-13: 9780131368675

TestGen® Computerized Test Bank for Introduction to Economic Reasoning, 8/E
Rohlf
©2011 | Prentice Hall | On-line Supplement | Live
ISBN-10: 0131368605 | ISBN-13: 9780131368606

Websites and online courses

Exam Copy for Introduction to Economic Reasoning, 8/E
Rohlf
©2011 | Prentice Hall | Paper; 560 pp | Instock
ISBN-10: 013136863X | ISBN-13: 9780131368637
More Info

Other student resources

Workbook for Introduction to Economic Reasoning, 8/E
Rohlf
©2011 | Prentice Hall | Paper; 202 pp | Instock
ISBN-10: 0131368575 | ISBN-13: 9780131368576
Net price: $35.00 (What's this?)More Info

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Introduction to Economic Reasoning, CourseSmart eTextbook, 8/E
Rohlf
©2011 | Prentice Hall | Electronic Book; 552 pp | Available
ISBN-10: 0131368648 | ISBN-13: 9780131368644
Online purchase price: $68.99
Brief Description |
CourseSmart eTextbooks are a creative digital solution that offers the freedom and convenience of online, offline, and mobile access using a single platform. With a CourseSmart eTextbook, students can:
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print out reading assignments that incorporate lecture notes
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For more information, or to subscribe to the CourseSmart eTextbook, visit www.coursesmart.com (for customers in U.S. and Canada) or www.coursesmart.co.uk (for customers in Europe, Middle East, and Africa).
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