Economics: Private & Public Choice
By James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
About your course materials
Teach students to apply economics as Gwartney/Stroup/Sobel/Macpherson's ECONOMICS: PRIVATE AND PUBLIC CHOICE, 17E places more emphasis than other text of its kind on the role of entrepreneurship in a market economy and the importance of public choice analysis in understanding the political process. New coverage presents entrepreneurship as key to grasping how the competitive market uses innovations to improve living standards. Students also see how public choice analysis clarifies voter, politician and bureaucrat incentives and impacts political outcomes -- which, in turn, affects national income.
Introductory chapters cover basic economic thinking and show how wealth is created using the "invisible hand" metaphor. Microeconomics models integrate entrepreneurship, the process of competition and the importance of contestable markets. Updates highlight recent changes in Federal Reserve policy, government debt and other factors impacting the macroeconomy, with special focus on the Great Suppression of 2020 related to the COVID-19 pandemic. MindTap resources further reinforce content.
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About this product
Teach students to apply economics as Gwartney/Stroup/Sobel/Macpherson's ECONOMICS: PRIVATE AND PUBLIC CHOICE, 17E places more emphasis than other text of its kind on the role of entrepreneurship in a market economy and the importance of public choice analysis in understanding the political process. New coverage presents entrepreneurship as key to grasping how the competitive market uses innovations to improve living standards. Students also see how public choice analysis clarifies voter, politician and bureaucrat incentives and impacts political outcomes -- which, in turn, affects national income.
Introductory chapters cover basic economic thinking and show how wealth is created using the "invisible hand" metaphor. Microeconomics models integrate entrepreneurship, the process of competition and the importance of contestable markets. Updates highlight recent changes in Federal Reserve policy, government debt and other factors impacting the macroeconomy, with special focus on the Great Suppression of 2020 related to the COVID-19 pandemic. MindTap resources further reinforce content.
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 historic data and lessons learned from both the Great Recession and the Great Depression.
COMPREHENSIVE ANALYSIS OF INTERNATIONAL TRADE EXAMINES ITS IMPACT TODAY. Students carefully review the influence of international trade on growth and the prosperity of nations throughout today's world.
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 pertinent, and even challenging, topics in the world around them.
Table of contents
Chapters
Part 1. The Economic Way of Thinking
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