Offering a unique blend of solid theoretical content and student accessibility, this text: 1) covers all the basics of macroeconomics and microeconomics, 2) gives students a clear idea of how economists think about the world, 3) stresses the key concepts in economics, and 4) is extremely rich in intriguing applications that convey the prevalence of economics in everyday life. Many principles instructors are constantly challenged with the goal of getting students excited about realization that economics is everywhere! Arnold has taken this to another level. He is so passionate about touching his students that he felt the need to write a principles book that is dedicated to opening the science of economics through the pictures and applications of our lives. Arnold is considered the most innovative author in this market to meet the fast pace interests of both instructors and students. His five themes of Theory and Model building, Key Concepts, Primary and Secondary Consequences, Real-World Applications, and the idea that Economics is about gifts, exchanges, and transfers, set the tone for a teaching text that is extremely approachable by instructors and students.

With coverage of macroeconomics, microeconomics, and globalization, this introductory textbook outlines basic principles and controversies in the discipline. Specific chapters discuss topics like supply and demand, prices and unemployment, GDP and real GDP, instability, fiscal policy, taxes and government spending, money and banking, the Federal Reserve system, monetary policy, expectations theory, growth, elasticity, consumer choice, production and costs, perfect competition, monopoly, game theory, the labor market, unions, poverty, interest and profit, market failure, international trade, and international finance. Arnold teaches at California State University at San Marcos. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com)

This book has more than lived up to my expectations. Teaching using this textbook has been really easy. Yes, I had to make changes in my presentation when I switched to this textbook, but I found it very easy. The students also have enjoyed this textbook. I don't hear any complaints about the material presentations or the homework questions. The students' performance has improved . . . Arnold's Economics has become my favorite textbook in the 19 years that I have taught.

I am very impressed with the examples that you use in the textbook. They do indeed distinguish this textbook from all the others that I have used before.

The strength of this text lies in [its] pedagogical features. The boxed "Economics in . . ." sections not only add significantly to the student's understanding of applied economics, but also create great interest in economics.

Offering a unique blend of solid theoretical content and accessibility, this text: 1) covers all the basics of macroeconomics and microeconomics, 2) gives readers a clear idea of how economists think about the world, 3) stresses the key concepts in economics, and 4) is extremely rich in intriguing applications that convey the prevalence of economics in everyday life. By applying economics to phenomenon that learners are familiar with and interested in, this book demonstrates like no other text how economic analysis can be applied to virtually anything of interest, thus helping readers develop true economic intuition. Additional features include a unique active-learning format, an emphasis on developing economic analysis skills, and an outstanding visual program for exhibits and graphs. Economics, 6e is also available in micro and macro paperback splits.

Roger A. Arnold is Professor of Economics at California State University San Marcos, where his fields of specialization include general microeconomic theory and monetary theory. A widely respected authority on economic issues, Dr. Arnold is regularly featured on talk radio to discuss the state of the economy. He is also a proven author who has written numerous academic articles, hundreds of newspaper columns, as well as the popular Economics In Our Times textbook and principles of economics supplementary text How to Think Like an Economist. Dr. Arnold has been a member of the economics faculty at California State University Northridge, University of Oklahoma, Hillsdale College, University of Nevada Las Vegas, and California State University San Marcos. He served as chair of the economics department for two years at University of Nevada Las Vegas and for seven years at California State University San Marcos. During his tenure at UNLV he was regularly one of the top five finalists for the teacher of the year honor (in the College of Business and Economics), and in 1987 he received the best researcher of the year award. Dr. Arnold earned a B.S. in economics in 1974 from the University of Birmingham in England and received his M.A. in 1976 and his Ph.D. in 1979 from Virginia Polytechnic Institute and State University.

AN INTRODUCTION TO ECONOMICS. Part 1: ECONOMICS: THE SCIENCE OF SCARCITY. 1. What Economics is About. Appendix A: Working with Diagrams. Appendix B: Should You Major in Economics? 2. Economic Activities: Producing and Trading. 3. Supply and Demand: Theory. 4. Supply and Demand: Practice. Economics in Perspective: Musical Notes, Economic Notes. MACROECONOMICS. Part 2: MACROECONOMIC FUNDAMENTALS. 5. Macroeconomic Measurements, Part I: Prices and Unemployment. 6. Macroeconomic Measurements, Part II: GDP and Real GDP. Economics in Perspective: The Stories Behind the Numbers. Part 3: MACROECONOMIC STABILITY, INSTABILITY, AND FISCAL POLICY. 7. Aggregate Demand and Aggregate Supply. 8. The Self-Regulating Economy. 9. Economic Instability: A Critique of the Self-Regulating Economy. 10. The Federal Budget and Fiscal Policy. Part 4: MONEY, THE ECONOMY, AND MONETARY POLICY. 11. Money and Banking. 12. The Federal Reserve System. 13. Money and the Economy. 14. Monetary Policy. Part 5: EXPECTATIONS AND GROWTH. 15. Expectations Theory and the Economy. 16. Economic Growth: Resources, Technology, and Ideas. Economics in Perspective: Debates in Macroeconomics. MICROECONOMICS. Part 6: MICROECONOMIC FUNDAMENTALS. 17. Elasticity. 18. Consumer Choice: Maximizing Utility and Behavioral Economics. Appendix C: Budget Constraint and Indifference Curve Analysis. 19. The Firm. 20. Production and Costs. Part 7: PRODUCT MARKET AND POLICIES. 21. Perfect Competition. 22. Monopoly. 23. Monopolistic Competition, Oligopoly, and Game Theory. 24. Government and Product Markets: Antitrust and Regulation. Part 8: FACTOR MARKETS AND RELATED ISSUES. 25. Factor Markets: With Emphasis on the Labor Market. 26. Wages, Unions, and Labor. 27. The Distribution of Income and Poverty. 28. Interest, Rent, and Profit. Part 9: MARKET FAILURE AND PUBLIC CHOICE. 29. Market Failure: Externalities, Public Goods, and Asymmetric Information. 30. Public Choice: Economic Theory Applied to Politics. THE WORLD ECONOMY. Part 10: INTERNATIONAL ECONOMICS: THEORY AND POLICY. 32. International Trade. 33. International Finance.