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Take a policy-based approach to teaching introductory economics with Baumol/Blinder's ECONOMICS: PRINCIPLES AND POLICY, 13E. Written by two of the most respected economists in the world, this edition is one of the most current economics texts on the market with data drawn from 2014. Significant updates reflect the most recent economic events and policy developments, which the authors skillfully relate to the book's concepts and principles using the right level of rigor and detail. A new chapter on U.S. economic leadership assesses the prospects for future U.S. growth and leadership, based on a discussion of our strengths and weaknesses in key areas, such as productivity, innovation, entrepreneurship, health care, education, inequality, trade, the budget deficit, and climate change. Now this leading text is available with MindTap®, a personalized teaching experience that offers relevant readings, videos, animations, activities, and assignments to guide students in analyzing, applying, and improving thinking skills. Aplia®, today's best-selling online homework solution, is also available with new accessibility on mobile devices, improved graphing, new interactive eReader with videos and graphing tutorials, and more. Guide your students in mastering the basic principles of economics with the strong policy-based approach and vivid examples found only in ECONOMICS: PRINCIPLES AND POLICY.
- NEW MINDTAP OFFERS STUDENTS A UNIQUE ONLINE LEARNING PATH. Relevant readings, videos, animations, activities, and assignments move students up the learning taxonomy from basic economic knowledge and comprehension to application, analysis, and critical thinking. In MindTap, students focus on the material that matters most, while staying organized and efficient. You can easily customize what students see and when they see it. Match your syllabus by hiding, rearranging, or adding you own content.
- NEW CHAPTER ASSESSES PROSPECTS FOR FUTURE U.S. GROWTH AND LEADERSHIP. This edition's new Chapter 21, "Is U.S. Economic Leadership Threatened?", examines the country's strengths and weaknesses in several key areas including productivity, innovation, entrepreneurship, health care, education, inequality, trade, the budget deficit, and climate change.
- EXTENSIVE UPDATES REFLECT TODAY'S MOST RECENT EVENTS AND POLICY DEBATES. This edition's latest "U.S. Share of World GDP--It's Nice to Be Rich Box" in Chapter 2 is one of many of the book's recent examples.
- THIS NEW EDITION IS THE ONLY PRINCIPLES OF ECONOMICS BOOK TO REFLECT 2013 YEAR-END DATA. You can ensure your students are learning from the most current information available with the latest economic statistics and information available as this book went to press.
- UPDATES HIGHLIGHT THE FEDERAL BUDGET DEFICIT AND CONTROVERSY SURROUNDING IT. This new edition emphasizes the latest information on the Federal Budget Deficit and the political battles related to it, including the recent fight over the national debt ceiling.
- THE LATEST INFORMATION ON THE U.S. DOLLAR KEEPS STUDENTS CURRENT. Updates and new material emphasize the recent behavior of today's US dollar and how it relates to economic principles.
- UPDATED "POLICY DEBATE" BOXES ENLIVEN CHAPTERS. This edition provides timely, intriguing "Policy Debate" boxes that bring chapter topics to life while opening the way for dynamic classroom discussion.
- SUMMARIES, REVIEW QUESTIONS AND KEY TERMS GUIDE STUDENT LEARNING. Each chapter ends with a clear summary and provides key concepts and terms as well as questions and problems for review to help students complete homework and prepare for exams.
- APLIA SIGNIFICANTLY IMPROVES OUTCOMES BY INCREASING STUDENT EFFORT AND ENGAGEMENT. Developed by teachers and used by more than 1,000,000 students Aplia assignments connect economic concepts to the real world. Aplia requires students to take an active role in the learning process−helping them improve their economic understanding and relate to the economic concepts presented. You can assign homework that is automatically graded and recorded. Aplia's End-of-Chapter feature is now mobile-enabled for your convenience.
- "BEYOND THE FINAL EXAM" FEATURE REINFORCES CONCEPTS FOR STUDENTS. The popular Ideas for "Beyond the Final Exam" feature is introduced in Chapter 1, and then integrated throughout the text to reinforce important concepts and help students prepare for success on exams and more.
- CHAPTER-OPENING REAL-LIFE ECONOMIC PUZZLES OR ISSUES LAUNCH INTEREST IN THE CHAPTER'S MATERIAL. These engaging Chapter Openers bring economics into students' everyday lives or reference current events they've read about in today's media. A chapter-opening economic problem is revisited within the body of the chapter, clearly illustrating how the professionals can address the challenge using the chapter's theoretical tools and concepts.
1. What Is Economics?
2. The Economy: Myth and Reality.
3. The Fundamental Economic Problem: Scarcity and Choice.
4. Supply and Demand: An Initial Look.
Part II: THE BUILDING BLOCKS OF DEMAND AND SUPPLY.
5. Consumer Choice: Individual and Market Demand.
6. Demand and Elasticity.
7. Production, Inputs, and Cost: Building Blocks for Supply Analysis.
8. Output, Price, and Profit: The Importance of Marginal Analysis.
9. Securities: Business Finance and the Economy: The Tail that Wags the Dog?
Part III: MARKETS AND THE PRICE SYSTEM.
10. The Firm and the Industry under Perfect Competition.
12. Between Competition and Monopoly.
13. Limiting Market Power: Regulation and Antitrust.
Part IV: THE VIRTUES AND LIMITATIONS OF MARKETS.
14. The Case for Free Markets: The Price System.
15. The Shortcomings of Free Markets.
16. Externalities, the Environment, and Natural Resources.
17. Taxation and Resource Allocation.
Part V: THE DISTRIBUTION OF INCOME.
18. Pricing the Factors of Production.
19. Labor and Entrepreneurship: The Human Inputs.
20. Poverty, Inequality, and Discrimination.
Part VI: U.S. ECONOMIC LEADERSHIP.
21. Is U.S. Economic Leadership Threatened?
Part VII: THE MACROECONOMY: AGGREGATE SUPPLY AND DEMAND.
22. An Introduction to Macroeconomics.
23. The Goals of Macroeconomic Policy.
24. Economic Growth: Theory and Policy.
25. Aggregate Demand and the Powerful Consumer.
26. Demand-Side Equilibrium: Unemployment or Inflation?
27. Bringing in the Supply Side: Unemployment and Inflation?
Part VIII: FISCAL AND MONETARY POLICY.
28. Managing Aggregate Demand: Fiscal Policy.
29. Money and the Banking System.
30. Monetary Policy: Conventional and Unconventional.
31. The Financial Crisis and the Great Recession
32. The Debate over Monetary and Fiscal Policy.
33. Budget Deficits in the Short and Long Run.
34. The Trade-Off between Inflation and Unemployment.
Part IX: THE UNITED STATES IN THE WORLD ECONOMY.
35. International Trade and Comparative Advantage.
36. The International Monetary System: Order or Disorder?
37. Exchange Rates and the Macroeconomy.
Appendix: Answers to Odd-Numbered Test Yourself Questions.
Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.
Instructor's Companion Website
The Instructor Online Resource Website contains key supplements designed to aid instructors, including the Instructor's Manual, Test Bank (powered by Cognero®), and PowerPoint® lecture and exhibit slides. All supplements are updated to match revisions made to the text.
Cengage Learning Testing, powered by Cognero® Instant Access for Baumol's Macroeconomics: Principles and Policy
Cengage Learning Testing, Powered by Cognero®, is a flexible online system that allows you to author, edit, and manage test bank content. You can create multiple test versions in an instant and deliver tests from your LMS in your classroom.