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Overview

McEachern “teaches by example.” It is the text that uses examples and illustrations that students will recognize when they show up for class the first day because they already have at least 17 years of personal experience with economic choices, institutions, and events. Taking a “just-in-time” approach by introducing material just as it is needed to develop an argument, MICROECONOMICS: A CONTEMPORARY INTRODUCTION, Tenth Edition, truly leads by example. In a decidedly user-friendly tone, McEachern assumes that students are already intuitively familiar with many economic concepts through their own life experiences. These life experiences are then explained to students as microeconomic concepts with clear and interesting exposition, relevant case studies, and a clean focused design. The text’s major applications take the form of Case Studies that are meant to be read and therefore are integrated into the flow of each chapter. With this Tenth edition, the book’s well-crafted approach is enhanced with resources--such as Aplia and CourseMate--that will help your students improve their understanding and help you streamline tasks and save valuable time.

William A. McEachern, University of Connecticut

Dr. William A. McEachern began teaching large sections of economic principles shortly after joining the University of Connecticut. Several years later he began offering teaching workshops around the country. The University of Connecticut Alumni Association conferred on him its Faculty Excellence in Teaching Award in 2000. He earlier won the Association's award for Distinguished Public Service. Dr. McEachern has published books and monographs on public finance, public policy, and industrial organization, including MANAGERIAL CONTROL AND PERFORMANCE (D.C. Heath and Company). His research has also appeared in edited volumes, such as READINGS IN PUBLIC CHOICE ECONOMICS (University of Michigan Press), INTERNATIONAL HANDBOOK ON TEACHING AND LEARNING ECONOMICS (Edward Elgar Publishing), and RETHINKING ECONOMIC PRINCIPLES (Irwin Publishing), He has also published in a variety of refereed journals, including Economic Inquiry, National Tax Journal, Quarterly Review of Economic and Business, Journal of Industrial Economics, Kyklos, Econ Journal Watch, and Public Choice. His principles of economics textbooks have been translated into Spanish, Chinese, and Bahasa Indonesia, and have been adapted for Australia and for India. He is the founding editor of THE TEACHING ECONOMIST, a newsletter that for a quarter of a century has focused on teaching economics at the college level. Dr. McEachern has advised federal, state, and local governments on policy matters and has been quoted in media such as the New York Times, Times of London, Wall Street Journal USA Today and Reader's Digest. He, earned an undergraduate degree with honors from College of the Holy Cross, served three years as a U.S. Army officer, and earned an M.A. and Ph.D. in economics from the University of Virginia.
  • Greater Emphasis on Recent Research: New to this edition is a greater emphasis on research with studies selected to stimulate students’ interest, to reinforce economic principles, and, in few cases, to offer a different perspective. The 10th edition will cite and discuss nearly 150 recent studies gleaned from the author’s survey of more than a thousand relevant publications, resulting in nearly twice the number of studies identified in the previous edition.
  • New Topics Covered: Nearly 150 new research findings inevitably will introduce new topics, such as the following: How 80% of the world’s population eats bugs with pleasure (Ch. 6); How the entry of one more hospital into a local market increased the heart-attack survival rate by 10% (Ch. 8); How higher gas prices reduce obesity (Ch. 11).
  • Topics that will be given more emphasis include the role of technology: Internet sellers are experimenting with online markets (Ch. 10); Older workers are more likely to retire rather than retrain for new technology (Ch. 11); HDTV puts a premium on the complexion of on-air talent (Ch. 11); The Internet has cut the demand for newsprint by 60% in the last decade (Ch. 11).
  • More Major Sections within Chapters: The 10th edition will present major sections in more bite-sized portions through the addition of new section and subsection headings. This change will enable students to have an easier time reading and comprehending material with more manageable section lengths. Some examples of the 18 new headings include: “Applications of Utility Analysis” (Ch. 6); “Rent Seeking Vs. the Underground Economy” (Ch. 16); and “Other Issues of Foreign Exchange Markets” (Ch. 20).
  • Checkpoint Questions: New to the 10th edition are “Checkpoint Questions” to help students retrieve, or recall, material that they have just read. After each major section, students will be asked a key “Checkpoint” question to help them assess how well they recall and understand what they just read.
  • Case Studies treatment: Case Studies have been reduced to one per chapter, updated throughout. A second Case Study for each chapter is available online.
  • Other New Aspects: More intuition, more stories, more examples, more supporting studies, or, as the case may be, some conflicting studies.
  • New Exhibits: New exhibits will demonstrate: scarcity and choice (Ch. 1); the division of labor (Ch. 2); unionization rates in fifty states (Ch. 12); the aggregate value of publicly traded companies over time (Ch. 13); the percentage of U.S. families owning corporate stock according to family income (Ch. 13).
  • New End-of-Chapter Questions/Problems: Some new Questions and Problems appear in the 10th edition in keeping with updated content.
  • The most successful online product for economics is now fully integrated with McEachern’s text. Aplia offers interactive tools to help better prepare economics students. For instructors, Aplia provides access to high-quality, auto-graded assignments that ensure your students put forth effort on a regular basis throughout the term.
  • CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Watch student comprehension soar as your class works with the printed textbook and the textbook-specific website.
  • This edition includes more exhibits – and many new ones - to reinforce key ideas while capturing student interest. Graphs are clear, with curves that are carefully and systematically color-coded to enhance student understanding.
  • To Review sections sum up lengthy concepts, while other section summaries and brief, one-sentence questions are inserted into the flow of the text ensure that students comprehend what they’re studying and are ready to move on through the material.
  • McEachern leads by example, introducing each economic idea by using common everyday student experiences to help bridge the gap between what students already know and the unfamiliar world of economics. With each chapter, McEachern emphasizes the “rules of the game” in shaping markets and promoting economic development, such as the protection of intellectual property rights.
  • End-of-chapter questions and problems – many new - identify the chapter concepts being addressed, allowing for easier assignment by the instructor and helping students find the material they may need to review if a question or problem gives them difficulty.
1. The Art and Science of Economic Analysis.
2. Some Tools of Economic Analysis.
3. Economic Decision Makers.
4. Demand and Supply Analysis.
5. Elasticity of Demand and Supply.
6. Consumer Choice and Demand.
7. Production and Cost in the Firm.
8. Perfect Competition.
9. Monopoly.
10. Monopolistic Competition and Oligopoly.
11. Resource Markets.
12. Labor Markets and Labor Unions.
13. Capital, Interest, Entrepreneurship, and Corporate Finance.
14. Transaction Costs, Imperfect Information, and Behavioral MICROECONOMICS.
15. Economic Regulation and Antitrust Policy.
16. Public Goods and Public Choice.
17. Externalities and the Environment.
18. Income Distribution and Poverty.
19. International Trade.
20. International Finance.
21. Developing and Transitional Economies.
MindTap
Each MindTap product offers the full, mobile-ready textbook combined with superior and proven learning tools at one affordable price. Students who purchase digital access can add a print option at any time when a print option is available for their course.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

Standalone Digital Access — Ultimate Value

Recommended and most popular

  • ISBN-10: 1285512391
  • ISBN-13: 9781285512396
  • Bookstore Wholesale Price $130.00
  • RETAIL $130.00
Aplia
Aplia is an online learning solution that increases student engagement with automatically graded assignments and detailed explanations.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

Standalone Digital Access — Ultimate Value

Recommended and most popular

  • ISBN-10: 1133495869
  • ISBN-13: 9781133495864
  • Bookstore Wholesale Price $130.00
  • RETAIL $130.00

Digital Access + Print — Flexible Value

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  • ISBN-10: 130524379X
  • ISBN-13: 9781305243798
  • Bookstore Wholesale Price $262.50
  • RETAIL $349.95
CengageNOW
CengageNOWv2 combines the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course in a digital world.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

Standalone Digital Access — Ultimate Value

Recommended and most popular

  • ISBN-10: 1285189450
  • ISBN-13: 9781285189451
  • Bookstore Wholesale Price $130.00
  • RETAIL $130.00

Textbook Only Options

Traditional eBook and Print Options

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  • ISBN-10: 1285635108
  • ISBN-13: 9781285635101
  • STARTING AT $22.49

  • STARTING AT $43.49

  • ISBN-10: 1133189237
  • ISBN-13: 9781133189237
  • Bookstore Wholesale Price $206.25
  • RETAIL $274.95

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.

FOR INSTRUCTORS

Cengage Learning Testing, powered by Cognero® Instant Access for McEachern's Microeconomics: A Contemporary Introduction

ISBN: 9781305505551
Cengage Learning Testing Powered by Cognero®, is a flexible, online system that allows you to: import, edit, and manipulate content from the text's test bank or elsewhere, including your own favorite test questions. Create multiple test versions in an instant and deliver tests from your LMS, your classroom, or wherever you want.