Read more about Principles of Economics - 2e

Principles of Economics - 2e

(8 reviews)

Timothy Taylor, Saint Paul, Minnesota

Steven A. Greenlaw, Fredericksburg, Virginia

Eric Dodge, Hanover, Indiana

Copyright Year: 2017

ISBN 13: 9781938168239

Publisher: OpenStax

Language: English

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Reviewed by Billy Lemus, Associate Professor, Lewis-Clark State College on 9/13/22

This book covers all of the topics that are covered in a typical micro and macroeconomics course. The book also includes chapters that could easily be assigned to further explore the concepts presented. The glossary is effective but there are a... read more

Reviewed by Ted Scheinman, Instructor in Economics, Mt. Hood Community College on 9/6/22

This textbook includes the standard topics that are taught in a Principles of Economics Course; it even covers some of my pet topics! It is a complete textbook. read more

Reviewed by Bekah Selby, Assistant Professor of Economics, Emporia State University on 11/5/21

I would actually give this a 4.5. It is fairly comprehensive. It is becoming outdated - especially in concepts of how the Fed conducts monetary policy in the modern era. This would require a revision of the chapters covering these concepts. I... read more

Reviewed by Chris Marmé, Professor, Augustana College on 7/16/19

The text includes far more than what could be included in a two semester sequence of micro and macro. Chapters on international trade, environmental economics, poverty and inequality, and many others are included. read more

Reviewed by David Strauss, Adjunct Lecturer/Dean of Students, Wayne State University on 11/11/18

I use the Open Stax Principles of Economics 2E. It is fantastic! It is comprehensive, current, and has a great resources. It is far superior to any paid for textbook. read more

Reviewed by Tristan Coughlin, Assistant Professor, Augustana College on 6/19/18

This textbook is extremely comprehensive. All of the traditional micro and macro topics that would be covered in a principles course are covered extensively. There are also many additional chapters that can be used as complements to complement and... read more

Reviewed by Bill Burrows, Economics Instructor, Lane Community College, Eugene,OR on 6/20/17

This is a VERY comprehensive principles text. No Glossory :( but the eight-page-triple column index is very thorough and complete. read more

Reviewed by Solina Lindahl, Lecturer, California Polytechnic State University on 7/15/14

The book is very comprehensive, its inclusion of a richer discussion of international and policy issues is great. read more

Table of Contents

  • Chapter 1: Welcome to Economics!
  • Chapter 2: Choice in a World of Scarcity
  • Chapter 3: Demand and Supply
  • Chapter 4: Labor and Financial Markets
  • Chapter 5: Elasticity
  • Chapter 6: Consumer Choices
  • Chapter 7: Cost and Industry Structure
  • Chapter 8: Perfect Competition
  • Chapter 9: Monopoly
  • Chapter 10: Monopolistic Competition and Oligopoly
  • Chapter 11: Monopoly and Antitrust Policy
  • Chapter 12: Environmental Protection and Negative Externalities
  • Chapter 13: Positive Externalities and Public Goods
  • Chapter 14: Poverty and Economic Inequality
  • Chapter 15: Issues in Labor Markets: Unions, Discrimination, Immigration
  • Chapter 16: Information, Risk, and Insurance
  • Chapter 17: Financial Markets
  • Chapter 18: Public Economy
  • Chapter 19: The Macroeconomic Perspective
  • Chapter 20: Economic Growth
  • Chapter 21: Unemployment
  • Chapter 22: Inflation
  • Chapter 23: The International Trade and Capital Flows
  • Chapter 24: The Aggregate Supply-Aggregate Demand Model
  • Chapter 25: The Keynesian Perspective
  • Chapter 26: The Neoclassical Perspective
  • Chapter 27: Money and Banking
  • Chapter 28: Monetary Policy and Bank Regulation
  • Chapter 29: Exchange Rates and International Capital Flows
  • Chapter 30: Government Budgets and Fiscal Policy
  • Chapter 31: The Macroeconomic Impacts of Government Borrowing
  • Chapter 32: Macroeconomic Policy Around the World
  • Chapter 33: International Trade
  • Chapter 34: Globalization and Protectionism
  • Chapter 35: The Use of Mathematics in Principles of Economics
  • Chapter 36: Demand, Supply, and Efficiency
  • Chapter 37: Indifference Curves
  • Chapter 38: Present Discounted Value
  • Chapter 39: The Expenditure-Output Model

Ancillary Material

  • OpenStax
  • OpenStax
  • OpenStax
  • OpenStax
  • About the Book

    Principles of Economics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.

    Changes made in Principles of Economics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Economics by OpenStax is available in the ancillaries.

    About the Contributors


    Senior Contributing Author

    Timothy Taylor, Macalester College

    Senior Content Expert

    Steven A. Greenlaw, University of Mary Washington

    Senior Contributor

    Eric Dodge, Hanover College

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