Reach every student with MyLab Economics with Pearson eText MyLab® empowers you to reach every student. This flexible digital platform combines unrivaled content, online assessments, and customizable features so you can personalize learning and improve results, one student at a time. Learn more about MyLab Economics. Pearson eText is an easy-to-use digital textbook available within MyLab that lets students read, highlight, take notes, and review key vocabulary all in one place. If you''re not using MyLab, students can purchase Pearson eText on their own or you can assign it as a course to schedule readings, view student usage analytics, and share your own notes with students. Learn more about Pearson eText. About the book Three unified principles lay the groundwork for understanding the economic way of thinking about the world 1. Optimization.

Economists believe that optimization explains most choices people make. When people fail to choose the best available option, economic reasoning can be used to analyze the mistake and to suggest a better course of action. 2. Equilibrium. Economic systems tend toward equilibrium, wherein each economic actor feels that he or she cannot do any better by picking another course of action. This principle highlights the connections among economic actors and their choices. 3. Empiricism.

Economists use data to test economic theories, learn about the world, and speak to policymakers. The emphasis on matching theories with real-world data to answer specific questions helps to show students the evidence behind the theory, making economics concrete, interesting, and fun. Applications provide meaningful practice in analyzing and interpreting real-world economic data and questions NEW - End-of-chapter Evidence-Based Economic problems show how economists use data to answer the question posed in the opening paragraph of each chapter. These features let students get a real look at economics as it plays out in the world around them, and gives them the skills to question systematically and evaluate what they read. New problems focus on: the opportunity cost of social media, higher education, and going to a movie (Chapter 1) whether economic development is tied to climate (Chapter 8) the 2007-2009 recession and applying Okun''s law to the 2020 recession (Chapter 12) spending multipliers and the CARES act (Chapter 13) NEW - Evidence-Based Economics sections devote more discussion to real-world economic issues and events, such as wages and employment during the COVID-19 Pandemic (Chapter 9) and the causes of recessions (Chapter 12). NEW - Letting the Data Speak boxes are short, targeted explorations that analyze an economic question by using real data as the foundation of the discussion. Recent additions profile: how the price of crude oil temporarily fell below $0 per barrel (Chapter 4) racial discrimination in the labor market (Chapter 9) the latest research on inflation expectations and past experiences (Chapter 11) NEW - Choice and Consequence exercises emphasize optimization by focusing on making the best decision. These features ask students to make an economic decision, or evaluate the consequences of past real decisions.

The authors then explain how an economist might analyze the same decision. New questions explore the future implications of AI on employment (Chapter 9) and recent changes in US trade policy and Brexit (Chapter 14). Comprehensive macroeconomic coverage shows the importance of concepts in everyday life NEW - Practical coverage of macroeconomics helps students see how they can apply course content in their own decision-making. New and relevant discussions related to the COVID-19 pandemic include: its impact on positive and normative economics related to unemployment and the stock market (Chapter 1) the trade-offs between health and economic output during the crisis (Chapter 1) how stay-at-home orders in 2020 impacted the demand for gasoline in developed countries (Chapter 4) the macroeconomic indicators related to, and savings rate and bank failures during, the COVID-19 Recession (Chapters 5 and 10) the government expenditure multiplier during the 2007-2009 and 2020 recessions (Chapter 13) Reach every student with MyLab with Pearson eText Teach your course your way Current News Exercises. Every week, microeconomic and macroeconomic news stories and accompanying exercises are posted to MyLab. Assignable and auto-graded, these multi-part exercises ask students to recognize and apply economic concepts to current events. Performance Analytics enable instructors to see and analyze student performance across multiple courses. Based on their current course progress, individuals'' performance is identified above, at, or below expectations through a variety of graphs and visualizations.

Now included with Performance Analytics, Early Alerts use predictive analytics to identify struggling students -- even if their assignment scoresare not a cause for concern. In both Performance Analytics and Early Alerts, instructors can email students individually or by group to provide feedback. Deliver trusted content NEW - With Podcast Exercises, students listen to a podcast and then answer questions about the economic principles covered within. There are 9 podcast assignments; each one includes a listening guide, glossary terms, and a combination of conceptual and analytical auto-graded questions. Animated Graphs in MyLab and the Pearson eText accompany many of the key graphs and figures in thetext, andhave been updated with real-time data from the Federal Reserve''s Economic Data (FRED(tm)) -- a comprehensive, up-to-date data set maintained by the Federal Reserve Bank of St. Louis. These animated graphs help students understand shifts in curves, movements along curves, and changes in equilibrium values. Easy to assign and automatically graded, Real-Time Data Analysis Exercises use up-to-the-minute, real-time macroeconomic data from the FRED site, to test students'' knowledge.

Empower learners Learning aids, such as Help Me Solve This, provide extra help for students at the point-of-use. Digital Interactives are dynamic and engaging assessment activities that promote critical thinking and the application of key economic principles. Many Digital Interactives also include real-time data from the FRED site, allowing professors and students to display up-to-the-minute data in key areas. Digital Interactives can be assigned and graded within MyLab or used as a lecture tool to encourage engagement and classroom conversation.