Economics: Private and Public Choice

PRACTICAL APPROACH APPLIES ECONOMIC THEORY TO CURRENT ISSUES AND CONTROVERSIES. Students see the relevance of the theories they are learning as they apply what they learn directly to current topics in the world around them. The importance of incentives and the economic way of thinking are stressed throughout the analysis. A set of special topic chapters applies these concepts to a variety of topics, including the environment and resource economics, health care, the stock market, the Great Depression and the Great Recession and the earnings differences between men and women.

ENGAGING CONTENT HIGHLIGHTS ECONOMIC THINKING ABOUT GOVERNMENT. Students examine today’s government involvement and decisions from a unique economic perspective as they review the latest information as well as historical data using the tools of public choice covered in a dedicated chapter and integrated throughout the text.

EMPOWERING STUDENTS WITH ENTREPRENEURIAL INSIGHTS. Students explore the contributions of a diverse variety of entrepreneurs who have shaped markets and created new opportunities for wealth and job creation. Students gain practical knowledge about innovation, risk-taking and wealth creation through these real-world examples in today’s dynamic global business marketplace.

COMPREHENSIVE ANALYSIS OF INTERNATIONAL TRADE EXAMINES ITS IMPACT TODAY. Students carefully review international trade's influence on growth and nations' prosperity throughout today's world. They examine empirical evidence on the importance of international trade as a source of economic growth and higher living standards and review the ramifications of enacting tariffs or other barriers on international trade.