Show students how economics is relevant New and Updated - Real-world business chapter-opening cases feature new companies or have been updated with current information for learning while also sparking students'' interest. They provide a unifying theme for the chapter by showing how the economic concepts presented impact a real business. Some of the chapter openers focus on the role of entrepreneurs in developing new products and bringing them to market. For example, Chapter 2 features Elon Musk of Tesla Motors, Chapter 15 features KB Home founders Donald Kaufman and Eli Broad, and Chapter 17 features Paytm founder Vijay Shekhar Sharma. New - Critical-Thinking Sections. New End-of-Chapter Exercises continue the tradition of developing critical-thinking skills in the text. Real-world problems encourage students to do their own research, or to explain key concepts using these questions. In the MyLab course, these multi-part exercises allow instructors to require short answers to open-ended discussion questions to develop students'' critical-thinking skills.
A Personal Dimension: Economics in Your Life & Career chapter openers ask students to consider questions related to their lives and careers. At the end of the chapters, the authors apply the concepts of the chapter to answer the questions -- highlighting the relevance of economics. Updated - An Inside Look is a 2-page feature that teaches students how to apply economic thinking to current events and policy debates in news articles. There is an excerpt of an article related to the company featured in the chapter-opening case. The authors provide a step-by-step analysis of the article, corresponding graph or table, and Thinking-Critically exercises. This feature appears at the end of chapters 1 - 4. Additional articles and analysis are also updated weekly in MyLab Economics. New - Taking a principles of economics class requires students to learn different terms, models, and a new way of analyzing real-world events.
It can be challenging for students, especially non-majors, to appreciate how this course can help them in a career in business, government, or a non-profit organization. Chapter 1 includes a new section that describes economics as a career and highlights the key skills students of any major can gain from studying economics. New - 15 Apply the Concepts have been added to reinforce key concepts and help students interpret what they read in the news. There are between 2 and 4 Apply the Concepts in each chapter, and most deal with business and policy topics relevant to today''s students. Students can visit MyLab Economics to watch a brief video that summarizes the key points of each. New and Updated - Solved Problems give students a model of how to solve an economic problem by breaking it down step by step. There are approximately 2 Solved Problems in each chapter, 16 of which are either new or updated for this edition. Students can visit MyLab Economics to complete a similar problem and receive tutorial help.
Provide a real-world approach to microeconomics Introductory chapters (1 - 4) provide students with a solid foundation in the basics, including marginal analysis and economic efficiency. Early coverage of policy issues (Chapters 1, 4, and 5), including trade policy, rent control and minimum wage, global warming, government policy toward soda and other sweetened beverages, and health care policy, helps clarify ideas encountered in later chapters. Complete coverage of trade is included (Chapter 19). A full chapter is devoted to international trade and the debate over trade policy. Improve comprehension of macroeconomic issues Careful discussion of macro statistics in Chapters 12 and 13 helps clarify some of the policy issues encountered in later chapters, including important differences between the payroll survey and household survey for understanding conditions in the labor market; and the employment-population ratio, which is not covered in some other books but which many economists regard as a key measure of labor market performance. Early coverage of long-run topics in Chapter 14 helps prepare students to understand business cycles to interpret economic events. Early coverage of long-run growth allows us to pique students'' interest. A dynamic model of aggregate demand and aggregate supply (AD-AS) in Chapter 15, provides students with a more accurate and realistic understanding of the causes and consequences of fluctuations in real GDP and the price level.
Coverage of both the demand-side and supply-side effects of fiscal policy is included in Chapter 18. The text distinguishes between automatic stabilizers and discretionary fiscal policy, and also provides significant coverage of the supply-side effects of fiscal policy. A flexible chapter organization satisfies a variety of approaches to teaching the principles of macroeconomics Coverage of the dynamic AD-AS model is presented in self-contained sections in Chapters 15, 17, and 18, so instructors may safely omit the sections on the Dynamic AD-AS model without any loss in continuity to the discussion of macroeconomic theory and policy. Chapter 15 includes a layered, full-color acetate for the Dynamic AD-AS model, but also basic AD-AS graphs that make it possible to omit the dynamic AD-AS model altogether. Foster thorough understanding via a flexible, student-focused approach An accessible writing style brings concepts to life. Ninety-four percent of 1,500 students from different colleges and universities across the country who reviewed Hubbard/O''Brien rated the writing style an ''A'' or ''B'' compared to their current principles of economics textbook. Solved Problems provide models of how to solve an economic problem by breaking it down step-by-step. Each solved problem includes a problem statement; delineated steps to solve the problem; a graph or table; and Your Turn, which directs students to related end-of-chapter problems for immediate practice.
This feature keeps students focused on the main ideas of each chapter, and prevents them from getting bogged down due to a lack of basic math or word-problem skills. Also available with MyLab Economics MyLab(tm) is the teaching and learning platform that empowers you to reach every student. By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student. Learn more about MyLab Economics. Reach every student with MyLab Deliver trusted content: You deserve teaching materials that meet your own high standards for your course. That''s why we partner with highly respected authors to develop interactive content and course-specific resources that you can trust -- and that keep your students engaged. Digital Interactives are dynamic and engaging activities that use real-time data from the Federal Reserve''s Economic Data (FRED(tm)) to promote critical thinking and application of key economic principles. Pearson eText enhances student learning -- both in and out of the classroom.
Worked examples, media-rich author videos, figure animations, and interactive tutorials bring learning to life, while algorithmic practice and self-assessment opportunities test students'' understanding of the material -- anytime, anywhere via MyLab or the app. Data Visualizations Powered by Real-Time Data. Macroeconomic graphs that contain real data are also available in the eText, allowing instructors to show and discuss what''s really happening in the world from an economics point of view. 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. Worksheets are available in the MyLab to give instructors the option to get students pencil to paper practice with graphing and other key topics in the economics course area. They also help to develop critical-thinking skills via short-answer student responses. Empower each learner: Each student learns at a different pace.
Personalized learning pinpoints the precise areas where each student needs practice, giving all students the support they need -- when and where they need it -- to be successful. Question Help consists of homework and practice questions to give students unlimited opportunities to master concepts. Learning aids walk students through the problem -- giving them assistance when they need it most. Dynamic Study Modules help students study chapter topics on their own by continuously assessing t.