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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.
- 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.
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.
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.
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.
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