Higher Education

ECON: MICRO4, 4th Edition

  • Includes CourseMate Printed Access Card
  • William A. McEachern University of Connecticut
  • ISBN-10: 1285423542  |  ISBN-13: 9781285423548
  • 400 Pages
  • Previous Editions: 2012, 2010, 2009
  • © 2015 | Published
  • College Bookstore Wholesale Price = $52.50
  • Newer Edition Available
  *Why an online review copy?
  • It's the greener, leaner way to review! An online copy cuts down on paper and on time. Reduce the wait (and the weight) of printed texts. Your online copy arrives instantly, and you can review it anytime from your computer or favorite mobile device.

If you prefer a print copy to review, please contact your representative.

About

Overview

Created by the continuous feedback of a "student-tested, faculty-approved" process, ECON: MICRO, 4E delivers a visually appealing, succinct print component, tear-out review cards for students and instructors and a consistent online offering with Enhanced CourseMate that includes an eBook in addition to a set of interactive digital tools, including quizzes, videos, interactive flashcards, Graphing at a Glance Video Tutorials, ConceptClips, and more - all at a value-based price and proven to increase retention and outcomes. ECON: MICRO, 4E truly leads by example as award-winning instructor and author Will McEachern takes a "just-in-time" approach -- introducing material just as it is needed to develop an argument. Dr. McEachern "teaches by example," using familiar examples and illustrations drawn from students' actual daily lives to vividly demonstrate that when students show up for class the first day, they each come with at least 17 years of first-hand, life experiences in making intuitive economic choices and dealing with economic institutions and events. Using a decidedly user-friendly tone, Dr. McEachern connects these life experiences to key economic concepts. ECON: MICRO, 4E's clear vibrant illustrations and reader-friendly, magazine-style presentation help maintain student interest throughout your course. Students learn from today's latest economic developments and examples, from the impact of the 2008-2009 recessions to the economic effects of the BP oil spill. Chapter-in-Review cards and leading online resources, such as Aplia™ and Enhanced CourseMate, work with this edition's well-crafted approach to help your students master microeconomics principles while saving you valuable time.

Additional Product Information

Features and Benefits

  • Every 4LTR Press solution comes complete with an engaging print textbook, tear-out review cards, an interactive digital solution (CourseMate), and an eBook all of which were directly influenced from student focus groups and surveys, and from interviews with faculty and students.
  • Shorter, comprehensive chapters in a modern design present content in a more engaging and accessible format without minimizing coverage for your course.
  • Tear-Out Review Cards at the back of the Student Editions provide students a portable study tool containing all of the pertinent information for class preparation.
  • Instructor Prep Cards at the back of the Instructor's Edition make preparation simple with detachable cards for each chapter, offering a quick map of chapter content, a list of corresponding PowerPoint and video resources, additional examples, and suggested assignments and discussion questions to help you organize chapter content efficiently.
  • Instructors resources that correspond with this edition of the ECON: MICRO 4 text are available on the instructor's resource website. Save time as you create a dynamic, inviting course for your students using these invaluable instructors' resources, including the Instructor's Manual, a powerful Test Bank, Cognero testing software, and PowerPoint® slides.
  • Every 4LTR Press solution comes with CourseMate, the interactive digital component that offers a full suite of unique learning tools that appeal to different learning styles. Quizzes, Videos, Graphing at a Glance Video Tutorials, ConceptClips, and more are only a click away.
  • Enhanced CourseMate! This turnkey resource now offers a practice quiz generator to help students prepare for tests. Also, a variety of NEW trackable activities provides students the opportunity to expand their knowledge with higher-level activities, while providing you easy access to data and reports on their progress and where they need more help.

Table of Contents

1. The Art and Science of Economic Analysis.
2. Economics Tools and Economic Systems.
3. Economic Decision Makers.
4. Demand, Supply, and Markets.
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. Economic Development.

What's New

  • New Graphing at a Glance Video Tutorials, included within CourseMate, enhance the learning experience by bringing graphs to life, allowing students to see graphs physically move along the axes. Understanding how graphs work and what shifts or movements along the curves mean in economics contexts is one of the difficult challenges that Principles students face in developing the economic way of thinking. Developed by Dr. John Min of Northern Virginia Community College, this feature walks students through basic graphing concepts, challenges, and graphing analyses via animated graphs.
  • New ConceptClips, included within CourseMate, 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 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 4th 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).
  • 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 Questions/Problems: Some new Questions and Problems appear in the 4th edition in keeping with updated content.

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.

Printed Text + CourseMate Printed Access Card + Aplia™ Instant Access

ISBN-10: 1305599586  | ISBN-13: 9781305599581

List Price = $83.95  | CengageBrain Price = $83.95  | College Bookstore Wholesale Price = $62.50

This Bundle Includes:

  • Aplia™, 1 term Instant Access
    List Price = $79.95  | CengageBrain Price = $79.95  | College Bookstore Wholesale Price = $79.95
  • ECON: MICRO4
    List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $52.50


ePack: Printed Text + Aplia™ Printed Access Card + ePin Lecture Tools

ISBN-10:  1305611209  | ISBN-13:  9781305611207

List Price = $97.95  | CengageBrain Price = $97.95  | College Bookstore Wholesale Price = $72.50

This Bundle Includes:

  • Aplia™, 1 term Printed Access Card
    List Price = $79.95  | College Bookstore Wholesale Price = $60.00
  • ECON: MICRO4
    List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $52.50
  • ePin Lecture Tools
    List Price = $11.00  | College Bookstore Wholesale Price = $11.00


Bundle: Text + CourseMate, 1 term (6 months) Printed Access Card

ISBN-10:  1337074063  | ISBN-13:  9781337074063

List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $52.50

This Bundle Includes:

  • ECON: MICRO4
    List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $52.50
  • LMS Integrated Sticker
    List Price = $.00  | College Bookstore Wholesale Price = $.00


Print Option: Text + CourseMate, 1 term (6 months) Printed Access Card

ISBN-10:  1337146617 | ISBN-13:  9781337146616

List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $52.50

This Bundle Includes:

  • ECON: MICRO4
    List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $52.50
  • 4LTR Press Print Option Sticker
    List Price = $.00  | College Bookstore Wholesale Price = $.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

Instructor's Resource CD-ROM  (ISBN-10: 1285185854 | ISBN-13: 9781285185859)

Cengage Learning Testing, powered by Cognero Instant Access  (ISBN-10: 1285980123 | ISBN-13: 9781285980126)

General MindLink for CourseMate, 1 term (6 months) Instant Access  (ISBN-10: 1305101677 | ISBN-13: 9781305101678)

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $64.95

LMS Integrated for Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 130510126X | ISBN-13: 9781305101265)

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $64.95

MindLink for Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1305101243 | ISBN-13: 9781305101241)

Aplia significantly improves outcomes and elevates thinking by increasing student effort and engagement. Developed by teachers and used by more than 1,000,000 students Aplia assignments connect concepts to the real world and focus on the unique course challenges facing students.

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $64.95

MindLink for Aplia, 1 term (6 months) Instant Access  (ISBN-10: 1305101286 | ISBN-13: 9781305101289)

List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $69.95

CourseMate Instant Access  (ISBN-10: 1285188977 | ISBN-13: 9781285188973)

Multiple resources for learning and reinforcing principles concepts are now available in one place! CourseMate equips students with a wealth of resources that help them study and apply economic concepts. As they read the chapters, students can go online and access News videos, Economic News articles, interactive quizzes and flashcards. Students also have access to graphing tutorials to aid the in understanding how graphs are used. Test your student's research skills with Internet activities. Chapter questions and solutions are available for individual assignments or group projects. Engagement Tracker tracks student preparation and engagement. Use the tracking tools to see progress for the class as a whole or for individual students. Identify students at risk early in the course. Uncover which concepts are most difficult for your class. Monitor time on task. Keep your students engaged in economics!

List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $69.95

Aplia™, 1 term Instant Access  (ISBN-10: 1285185897 | ISBN-13: 9781285185897)

Engage, prepare and educate your students with this ideal online learning solution. Aplia™ for Economics improves comprehension and outcomes by increasing student effort and engagement. Students stay on top of coursework with regularly scheduled homework assignments while automatic grading provides detailed, immediate feedback. Updated for the 4th edition, Aplia™ assignments match the language, style, and structure of ECON: MICROECONOMICS, 4e, by William A. McEachern, which allows your students to apply what they learn in the text directly to homework.

List Price = $79.95  | CengageBrain Price = $79.95  | College Bookstore Wholesale Price = $79.95

MindTap Reader with Cengage Learning Write Experience 2.0 Powered by MyAccess Instant Access  (ISBN-10: 1285189000 | ISBN-13: 9781285189000)

List Price = $99.00  | CengageBrain Price = $99.00  | College Bookstore Wholesale Price = $99.00

Aplia™ with Cengage Learning Write Experience 2.0 Powered by MyAccess Instant Access  (ISBN-10: 1285189027 | ISBN-13: 9781285189024)

Aplia significantly improves outcomes and elevates thinking by increasing student effort and engagement. Developed by teachers and used by more than 1,000,000 students Aplia assignments connect concepts to the real world and focus on the unique course challenges facing students.

List Price = $125.00  | CengageBrain Price = $125.00  | College Bookstore Wholesale Price = $125.00

Student Supplements

Cengage Learning Testing, powered by Cognero Instant Access  (ISBN-10: 1285980123 | ISBN-13: 9781285980126)

List Price = $50.00  | College Bookstore Wholesale Price = $50.00

General MindLink for CourseMate, 1 term (6 months) Instant Access  (ISBN-10: 1305101677 | ISBN-13: 9781305101678)

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $64.95

LMS Integrated for Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 130510126X | ISBN-13: 9781305101265)

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $64.95

MindLink for Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1305101243 | ISBN-13: 9781305101241)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $64.95

MindLink for Aplia, 1 term (6 months) Instant Access  (ISBN-10: 1305101286 | ISBN-13: 9781305101289)

List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $69.95

CourseMate Instant Access  (ISBN-10: 1285188977 | ISBN-13: 9781285188973)

CourseMate is your one-stop shop for learning tools and activities that help you succeed. All the study and application resources in CourseMate are organized by chapter to help you get the most from our text. Along with interactive quizzes and flashcards, we offer a graphing tool such Graphing at a Glance Video Tutorials to help you understand how to create and read graphs. In addition to interactive teaching and learning tools, Economics CourseMate includes and interactive eBook. You can take notes, highlight, search and interact with embedded media specific to this book.

List Price = $69.95  | CengageBrain Price = $69.95  | College Bookstore Wholesale Price = $69.95

Aplia™, 1 term Instant Access  (ISBN-10: 1285185897 | ISBN-13: 9781285185897)

Get the help you need to stay on top of your coursework with Aplia™ for Economics. This innovative, online learning solution makes it exciting and convenient to read your e-text of ECON: MICROECONOMICS, 4E, by William A. McEachern, and master the fundamentals of economics. Interactive tools and automatically graded homework tie in directly to the book and provide immediate feedback on every question help further your understanding. It's easy to apply what you learn in the text directly to homework. This easy-to-use system has been used by more than 1,000,000 students at more than 1,800 institutions.

List Price = $79.95  | CengageBrain Price = $79.95  | College Bookstore Wholesale Price = $79.95

MindTap Reader with Cengage Learning Write Experience 2.0 Powered by MyAccess Instant Access  (ISBN-10: 1285189000 | ISBN-13: 9781285189000)

List Price = $99.00  | CengageBrain Price = $99.00  | College Bookstore Wholesale Price = $99.00

Aplia™ with Cengage Learning Write Experience 2.0 Powered by MyAccess Instant Access  (ISBN-10: 1285189027 | ISBN-13: 9781285189024)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

List Price = $125.00  | CengageBrain Price = $125.00  | College Bookstore Wholesale Price = $125.00

LMS Integrated for Aplia™, 1 term Instant Access  (ISBN-10: 1305101383 | ISBN-13: 9781305101388)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $64.95

Meet the Author

Author Bio

William A. McEachern

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.

Digital Solutions

Aplia Logo

What is it?
Aplia is the most successful and widely used homework solution in the Economics market. Online interactive problem sets, analyses, tutorials, experiments, and critical-thinking exercises give students hands-on application without adding to instructors’ workload. Based on discovery learning, Aplia requires students to take an active role in the learning process—helping them improve their economic understanding and ability to relate to the economic concepts presented. Instructors can assign homework that is automatically graded and recorded.

What’s New?
ECON4 includes a fully interactive eReader embedded in the Aplia product. This new approach combines the functionality you and your students are coming to expect from a modern eReader (text search, highlighting, note-taking) with our exclusive embedded media.

Aplia now provides:

• An optimized iPad experience, allowing students to access content on their mobile devices anywhere and anytime.
• Improved graphing with better graph precision, a new fill-area tool, and an improved shifter tool.
• Expanded partial credit and task level grading – providing feedback to students at the task level in addition to the problem level for more granular and incremental guidance to coach students where they need it most.
• Closer alignment between the end-of-chapter questions and Aplia homework.
• Detailed, easily accessible outcomes reporting and analysis.
• New reporting functionality that allows you to view student proficiency by learning objective, performance by class and across Aplia users, Aplia problem to learning objective mapping, and detailed raw performance data for your students.

Find out more at www.cengage.com/aplia.


Write Experience

Write Experience
Cengage Learning’s Write Experience allows you to assess written communication skills without adding to your workload. Instructors have told us it’s important that students can write effectively in order to communicate and think critically about economics. Write Experience uses artificial intelligence to score student writing instantly and accurately, as well as provide students with detailed revision goals and feedback on their writing to help them improve.
You can choose the assignments that best fit your course needs and the concepts for which you most want your students to practice critical thinking and writing skills.

Better Writing. Better Outcomes. Write Experience.

Visit www.cengage.com/writeexperience to learn more.