Synopses & Reviews
Offering a unique blend of solid theoretical content and accessibility, this book stands apart with its emphasis on intriguing applications that convey the prevalence of economics in everyday life. By applying economics to phenomenon that the reader is 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 students 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. Content highlights include balanced presentation of major macro theories; a micro presentation that centers around the trilogy of objectives, constraints, and choices; thorough integration of international topics; and fully-integrated Internet features that offer hands-on exercises foe exploring economics on-line. Macroeconomics, 5e is also available in a micro split and both micro/macro are in the principles text.
About the Author
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 a regularly featured expert on talk radio discussing 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.
Table of Contents
AN INTRODUCTION TO ECONOMICS. PART ONE: ECONOMICS: THE SCIENCE OF SCARCITY. 1. What Economics is About. Appendix A: Working with Diagrams. 2. Trade, Tradeoffs, and Economics Systems. 3. Supply, Demand, and Price: The Theory. 4. Application of Supply and Demand: Explaining and Predicting Market and Nonmarket Behavior. MACROECONOMICS. PART TWO: MACROECONOMIC FUNDAMENTALS. 5. Macroeconomic Measurements, Part 1: Prices and Unemployment. 6. Macroeconomic Measurements, Part 2: GDP and Real GDP. PART THREE: 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. Fiscal Policy. 11. Taxes, Deficits, Surpluses, and the Public Debt. PART FOUR: MONEY, THE ECONOMY, AND MONETARY POLICY. 12. Money and Banking. 13. The Federal Reserve System. 14. Money and the Economy. 15. Monetary Policy. PART FIVE: EXPECTATIONS AND GROWTH. 16. Expectations Theory and the Economy. 17. Economic Growth: Resources, Technology, and Ideas. THE WORLD ECONOMY. PART SIX: INTERNATIONAL ECONOMICS: THEORY AND POLICY. 18. International Trade. 19. International Finance. 20. International Economic Development.