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ESSENTIALS OF ECONOMICS, Seventh Edition, continues to be the most popular and widely-used text in the economics classroom. A text by a superb writer and economist that stresses the most important concepts without overwhelming students with an excess of detail. A thorough update has been made to keep all chapters fresh and relevant with current Economic coverage. MindTap, the cutting edge online environment is available with new enhancements that include Graph Builder and Adaptive Test Prep that allow students extra preparation in graph drawing and test review. The seventh edition premier ancillary package is the most extensive in the industry, using a team of instructors/preparers that have been with the project since the first edition.
- MindTap, the most advanced online environment for principles focuses students within a learning path while allowing instructors to create the course they want using publisher provided, instructor created or third party materials. Adaptive Test Prep, a new enhancement, improves student confidence before exams by providing 3,800 test bank type questions and 1,700 Quick Coach Videos to ensure student success. Graph Builder allows students to draw graphs from scratch, right in the interactive book. 25 new Graph Builder exercises are available in Summer 2016.
- Aplia, the best-selling online homework solution, has been enhanced for the seventh edition, including an optimized mobile experience, allowing students to access content on their mobile devices anywhere and anytime and closer alignment of Aplia and the textbook with End-of-Chapter text questions.
- The Mankiw 7e interactive eReader experience is so much more than moving words from the printed page to digital screen. It is designed to give students the same online experience that they are used to in their personal internet use. In addition to full search functionality, text highlighting and note-taking and smart-links to previous chapters or relevant figures, the Mankiw 7e eReader features a variety of media assets specifically designed to address the challenges students and instructors have told us impede learning.
- ConceptClips, embedded throughout the interactive eReader, address the challenge of understanding economics terminology that students face when first introduced to the subject matter. Developed by Mike Brandl of The Ohio State University, these vocabulary animations provide students with a memorable auditory and visual representation of the important terminology for the course.
- New Mankiw Roadmap videos feature author, Greg Mankiw, introducing the chapter content by providing real world context and motivation around what the students will be learning in the upcoming chapter. These videos answer the "Why?" before getting into the "What?", providing students with a better understanding of the importance and rationale for the chapter content and helping them to understand how economics relates to what they experience in their lives and see in the world around them.
- New Problem Walk-Throughs further explain difficult concepts and homework roadblocks by walking students through solving a problem from start to finish. Students want to work through problem assignments without breaking concentration and when it's convenient for them, which is not always during the office hours when instructors can be available for extra help.
- New "Quick Check Multiple Choice" questions have been added to the seventh edition, providing students a comprehensive self-review between the initial "Questions for Review" and their deeper dive into the concepts in the "Problems and Applications." The "Quick Check Multiple Choice" and "Problems and Applications" are being built directly into the Aplia product parallel to the way they appear in the text, and are fully gradable.
- The seventh edition contains extensively updated coverage of relevant, current Economic topics. A few of the chapters with the most comprehensive updates include: 12 – The Design of the Tax System, 20 – Income Inequality and Poverty, 23 – Measuring a Nation's Income, 24 – Measuring the Cost of Living, 25 – Production and Growth, & 28 – Unemployment.
- New "In the News" and "FYI" boxes have been added to the seventh edition.
- Aplia is the most successful and widely used homework solution in the Economics market, with over 1 billion answers entered. Online interactive problem sets, analyses, tutorials, experiments, and critical-thinking exercises give students hands-on application without adding to instructors' workload.
- Created by economist Ron Cronovich of Carthage College, Premium PowerPoint® Presentations feature chapter-by-chapter slides designed to ease your course preparation time while increasing student involvement in the classroom. The presentations organize lecture points into sections that students can easily digest, animate graphs the way you might draw them, and include Student Note Prompt handouts to facilitate effective note taking without distracting students from active participation in class.
Table of Contents.
Part I: INTRODUCTION.
1. Ten Principles of Economics.
2. Thinking Like an Economist.
3. Interdependence and the Gains from Trade.
Part II: HOW MARKETS WORK.
4. The Market Forces of Supply and Demand.
5. Elasticity and Its Application.
6. Supply, Demand, and Government Policies.
Part III: MARKETS AND WELFARE.
7. Consumers, Producers, and the Efficiency of Markets.
8. Application: The Costs of Taxation.
9. Application: International Trade.
Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
11. Public Goods and Common Resources.
Part V: Firm Behavior and the Organization of Industry.
12. The Costs of Production.
13. Firms in Competitive Markets.
Part VI: THE DATA OF MACROECONOMICS.
15. Measuring a Nation's Income.
16. Measuring the Cost of Living.
Part VII: THE REAL ECONOMY IN THE LONG RUN.
17. Production and Growth.
18. Saving, Investment, and the Financial System.
19. The Basic Tools of Finance.
20. Unemployment and Its Natural Rate.
Part VIII: MONEY AND PRICES IN THE LONG RUN.
21. The Monetary System.
22. Money Growth and Inflation.
Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
23. Aggregate Demand and Aggregate Supply.
24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
"One of the reasons why we adopted the Mankiw text was because of its relevant concepts that students could really relate to. I would say to continue with this trend, and also be sure to use examples that relate to the current economic conditions that make sense to a beginner economics student."
"I have used Mankiw for several years, across at least 3 or 4 of its editions. I like the writing in the book--it's clear and exposits the ideas effectively. It covers topics that I want to cover, mostly in the order that I like to cover them. It's at the appropriate level for our students--not too difficult but not superficial either. I also like the fact that this book is very closely integrated with the Aplia system, which I believe is an important learning tool."
"Very student friendly text. Makes economics easy to understand. Some of the other texts would take a lot of reading to explain an idea."