Principles of Economics

(4 reviews)


Pub Date: 2016

ISBN 13: 978-1-9461351-6-2

Publisher: University of Minnesota Libraries Publishing

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Reviewed by Robert Berman, Adjunct Instructor, American University, on 2/2/2018.

Comprehensive in overall coverage; yet many on the sections leave out important discussions. For example, the table of contents covers everything … read more



Reviewed by Maxwell Eseonu, Professor of Economics, Virginia State University, on 6/21/2017.

The text's coverage is comprehensive. The writing approach is a very good one; that is, giving the reader a heads-up in concept coverages, real world … read more



Reviewed by Bill Burrows, Economics Instructor, Lane Community College, Eugene,OR, on 1/8/2016.

Being a product of the Pleistocene epoch, I sometimes don't trust my online navigation skills. That said, after repeated attempts, I was unable to … read more



Reviewed by Choikam Yip, Adjunct Instructor, Portland Community College, on 1/8/2016.

This textbook is very comprehensiveness. It covers almost all the major topics in mainstream micro and macroeconomic studies. The examples and data … read more


Table of Contents

  • Chapter 1: Economics: The Study of Choice
  • Chapter 2: Confronting Scarcity: Choices in Production
  • Chapter 3: Demand and Supply
  • Chapter 4: Applications of Demand and Supply
  • Chapter 5: Elasticity: A Measure of Response
  • Chapter 6: Markets, Maximizers, and Efficiency
  • Chapter 7: The Analysis of Consumer Choice
  • Chapter 8: Production and Cost
  • Chapter 9: Competitive Markets for Goods and Services
  • Chapter 10: Monopoly
  • Chapter 11: The World of Imperfect Competition
  • Chapter 12: Wages and Employment in Perfect Competition
  • Chapter 13: Interest Rates and the Markets for Capital and Natural Resources
  • Chapter 14: Imperfectly Competitive Markets for Factors of Production
  • Chapter 15: Public Finance and Public Choice
  • Chapter 16: Antitrust Policy and Business Regulation
  • Chapter 17: International Trade
  • Chapter 18: The Economics of the Environment
  • Chapter 19: Inequality, Poverty, and Discrimination
  • Chapter 20: Macroeconomics: The Big Picture
  • Chapter 21: Measuring Total Output and Income
  • Chapter 22: Aggregate Demand and Aggregate Supply
  • Chapter 23: Economic Growth
  • Chapter 24: The Nature and Creation of Money
  • Chapter 25: Financial Markets and the Economy
  • Chapter 26: Monetary Policy and the Fed
  • Chapter 27: Government and Fiscal Policy
  • Chapter 28: Consumption and the Aggregate Expenditures Model
  • Chapter 29: Investment and Economic Activity
  • Chapter 30: Net Exports and International Finance
  • Chapter 31: Inflation and Unemployment
  • Chapter 32: A Brief History of Macroeconomic Thought and Policy
  • Chapter 33: Economic Development
  • Chapter 34: Socialist Economies in Transition

About the Book

This book is intended for a two-semester course in Economics taught out of the social sciences or business school. Principles of Economics aims to teach considerable range and depth of Economic concepts through an approachable style and methodology. The authors take a three-pronged approach to every chapter: The concept is covered with a “Heads Up” to ward off confusion, a real-world application for that concept, and a “You Try It” section to make sure students are staying on top of the concept.

About the Contributors


Principles of Economics is adapted from a work produced by a publisher who has requested that they and the original author not receive attribution. This adapted edition is produced by the University of Minnesota Libraries Publishing through the eLearning Support Initiative. Though the publisher has requested that they and the original author not receive attribution, this adapted edition reproduces all original text and sections of the book, except for publisher and author name attribution.