Higher Education

Fundamentals of Economics, 5th Edition

  • William Boyes Arizona State University
  • Michael Melvin Arizona State University
  • ISBN-10: 0538481196  |  ISBN-13: 9780538481199
  • 464 Pages
  • Previous Editions: 2009, 2006, 2003
  • © 2012 | Published
  • College Bookstore Wholesale Price = $231.75
  • Newer Edition Available
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About

Overview

Based on the comprehensive two-semester text by the same authors, this version of Economics “boils down” the formal economic theories and concepts into their essential parts, emphasizing domestic and international applications and policy issues. FUNDAMENTALS OF ECONOMICS is a concise but thorough survey of economics for instructors desiring a brief, practical text. Each chapter focuses on core economic concepts and provides a link between theory and real-world relevance, making the content more meaningful for students. The Fifth Edition provides a convenient, integrated learning experience by including a Study Guide after each chapter, which allows students to review key concepts and practice new skills before they go on to read the next chapter. Fundamental Questions at the beginning of each chapter preview key points, reappear next to the relevant in-text discussion, and form the basis of chapter-ending Summary sections. Economic Insight and Global Business Insight boxes focus on the policies of today’s leaders and the business decisions of real companies and governments around the world, adding real-world relevance to the material.

Features and Benefits

  • The Fifth Edition has been thoroughly updated to reflect the current economic condition in the US and the world. The new edition has also been updated to reflect recent events in the Obama administration, especially in regard to healthcare.
  • The supportive pedagogical framework that guides students through each chapter includes Fundamental Questions, which open and organize the chapter by focusing on three to six key issues, and which then reappear both at point of relevance in the margins and in the end-of-chapter Summary sections; Now You Try It checkpoint questions that quiz students on important concepts, with answers provided at the back of the book; Recaps at the end of each major section to break material into manageable segments; and end-of-chapter exercises that serve as self-checks for students and as homework assignment options for instructors.
  • A built-in study guide follows each chapter, and provides a more intensive review opportunity for students, with answers provided in an appendix. Most chapters contain four pages of study material consisting of key term match-ups, multiple-choice quizzes, and practice questions and problems. A final section of application problems gives students an opportunity to analyze and synthesize what they have learned.

Table of Contents

PART I: Markets
1, Economics and the World Around You.
Appendix to Chapter 1: Working with Graphs.
2. Markets and the Market Process.
3. The Free Market versus Government Interference
PART II: CONSUMERS, FIRMS, AND SOCIAL ISSUES.
4. The Firm and the Consumer.
5. Costs and Profit Maximization.
6. Competition.
7. Business, Society, and the Government.
8. Government Intervention versus Free Markets.
PART III: THE NATIONAL AND GLOBAL ECONOMIES.
9 An Overview of the National and International Economies.
10. Macroeconomic Measures.
11. Unemployment, Inflation, and Business Cycles.
12. Macroeconomic Equilibrium: Aggregate Demand and Supply.
13. Fiscal Policy.
14. Money and Banking.
PART VI: MACROECONOMIC POLICY.
15. Monetary Policy.
16. Macroeconomic Policy, Business Cycles, and Growth.
17. Issues in International Trade and Finance.
18. Globalization.

What's New

  • Examples in each chapter focus on the business decisions of actual, headline-making companies and discuss the economic policies of today’s world leaders. These examples are selected to demonstrate the relevance of the material to students’ lives.

Learning Resource Bundles

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Learning Consultant for more information.

Bundle; Text + Aplia Printed Access Card

ISBN-10: 1133293719  | ISBN-13: 9781133293712

List Price = $321.95  | College Bookstore Wholesale Price = $241.75

This Bundle Includes:

  • Fundamentals of Economics
    List Price = $307.95  | CengageBrain Price = $307.95  | College Bookstore Wholesale Price = $231.75
  • Aplia™, 1 term Printed Access Card
    List Price = $126.00  | College Bookstore Wholesale Price = $94.50


Printed Text + Aplia Instant Access

ISBN-10:  1285488237 | ISBN-13:  9781285488233

List Price = $321.95  | CengageBrain Price = $321.95  | College Bookstore Wholesale Price = $241.75

This Bundle Includes:

  • Fundamentals of Economics
    List Price = $307.95  | CengageBrain Price = $307.95  | College Bookstore Wholesale Price = $231.75
  • Aplia™, 1 term Instant Access
    List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00


Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" tab, then select "What's New" for updates specific to title's edition.

For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor Supplements

Economic CourseMate with eBook Instant Access Code  (ISBN-10: 1111746311 | ISBN-13: 9781111746315)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Maximize your course success with the integrated eBook and chapter-specific learning tools that include flashcards, quizzes, videos, and more in your CourseMate. Key Features: Interactive eBook, Engagement Tracker, Learning Objectives, Tutorial Quizzes, Glossary and Flashcards, and Web Links and References.

List Price = $246.00  | CengageBrain Price = $246.00  | College Bookstore Wholesale Price = $246.00

Aplia™, 1 term Instant Access  (ISBN-10: 113302677X | ISBN-13: 9781133026778)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for FUNDAMENTALS OF ECONOMICS, 5th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

Instructor's Resource CD-ROM  (ISBN-10: 111153148X | ISBN-13: 9781111531485)

The IRCD contains all of the resources that an instructor will need to effectively teach this course. These resources include Lecture PowerPoint slides, Exhibit PowerPoint slides, Test Bank, ExamView, and Instructor’s Manual. These resources are also available on the website. All resources have been thoroughly updated for the new edition.

Aplia Instant Access  (ISBN-10: 0495954918 | ISBN-13: 9780495954910)

Aplia saves instructors valuable time they’d otherwise spend on routine grading while giving students an easy way to stay on top of coursework with regularly scheduled assignments. These assignments have been developed for a range of textbooks and are easily customized for individual teaching schedules. Currently, Aplia supports college-level courses and has been used by more than 1,000,000 students at over 1,300 institutions. Aplia’s economics students use interactive chapter assignments, tutorials, news analyses, and experiments to make economics relevant and engaging. Students receive immediate, detailed explanations for every answer. Math and graphing tutorials help students overcome deficiencies in these crucial areas. Economics articles from top news sources challenge students to connect current events to course concepts.

List Price = $126.00  | College Bookstore Wholesale Price = $94.50

Economics for Life: 101 Lessons You Can Use Every Day!  (ISBN-10: 0538757884 | ISBN-13: 9780538757881)

ECONOMICS FOR LIFE 3e is a book about real-world applications for economics. In addition to applications, the text contains critiques of common economic fallacies, paradoxical economic results, and solutions to economic mysteries that are sure to interest students. Tied through its Appendices to all South-Western principles texts, Economics for Life helps students use economic concepts to better understand the world around them. The book serves as a valuable resource for delivering a more applications-based Principles (or Economics 101) course and can be bundled at no additional charge.

List Price = $29.95  | CengageBrain Price = $29.95  | College Bookstore Wholesale Price = $22.50

Student Supplements

Economic CourseMate with eBook Instant Access Code  (ISBN-10: 1111746311 | ISBN-13: 9781111746315)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Access an integrated eBook, learning tools including flashcards, quizzes, and more, all designed specifically to work with FUNDAMENTALS OF ECONOMICS, 5th Edition.

List Price = $246.00  | CengageBrain Price = $246.00  | College Bookstore Wholesale Price = $246.00

Aplia™, 1 term Instant Access  (ISBN-10: 113302677X | ISBN-13: 9781133026778)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for FUNDAMENTALS OF ECONOMICS, 5th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

Aplia Instant Access  (ISBN-10: 0495954918 | ISBN-13: 9780495954910)

Aplia allows students with an easy way to stay on top of coursework with regularly scheduled assignments. Aplia has been used by more than 1,000,000 students at over 1,300 institutions. Aplia’s economics students use interactive chapter assignments, tutorials, news analyses, and experiments to make economics relevant and engaging. Students receive immediate, detailed explanations for every answer. Math and graphing tutorials help students overcome deficiencies in these crucial areas. Economics articles from top news sources challenge students to connect current events to course concepts.

List Price = $126.00  | College Bookstore Wholesale Price = $94.50

Economics for Life: 101 Lessons You Can Use Every Day!  (ISBN-10: 0538757884 | ISBN-13: 9780538757881)

ECONOMICS FOR LIFE 3e is a book about real-world applications for economics. In addition to applications, the text contains critiques of common economic fallacies, paradoxical economic results, and solutions to economic mysteries that are sure to interest students. Tied through its Appendices to all South-Western principles texts, Economics for Life helps students use economic concepts to better understand the world around them. The book serves as a valuable resource for delivering a more applications-based Principles (or Economics 101) course and can be bundled at no additional charge.

List Price = $29.95  | CengageBrain Price = $29.95  | College Bookstore Wholesale Price = $22.50

Meet the Author

Author Bio

William Boyes

Dr. William Boyes is professor of economics at Arizona State University. He received his Ph.D. in economics from the Claremont Graduate School in 1974. Before joining the Arizona State faculty, he was the Distinguished Visiting Professor of Business at Weber State University; visiting professor at Tsinghua University, Beijing, China and the University of London, London, England, and lectured at ITAM in Mexico City; and was the dean of the College of Business at Cal Poly, San Luis Obispo. Dr. Boyes has also served as chairman of the Economics Department at ASU and has been an economist with Security Pacific National Bank (now Bank of America). He has been a consultant to the White House, the Commerce Department, the Federal Trade Commission, and several private firms. He is the director of the office of economic education at ASU and a member of the Pacific Research Institute's Academic Advisory Board. Dr. Boyes has received many teaching awards, including the Golden Key National Honor Society Outstanding Professor Award at ASU in 1988, the Outstanding Teacher in the MBA Program Award at ASU in 1994, the Outstanding Teacher in the College of Business Award at ASU in 1995, Huizingh Outstanding Honors Professor in 2007, and Outstanding MBA Professor in 2008.

Michael Melvin

Michael Melvin is currently Head of Currency Research at Barclays Global Investors. He also retains affiliations at the Arizona State University Department of Economics and the Haas School of Business at the University of California, Berkeley. Dr. Melvin received his Ph.D. in economics from UCLA in 1980. He has served as a visiting scholar at the Federal Reserve Board and the International Monetary Fund, was a Fulbright Professor at the University of Frankfurt, and has been a visiting professor at UCLA, Northwestern University, U.C. San Diego, and the University of Hawaii. His field of specialization is International Finance, and he is the coeditor of the Journal of International Money and Finance.