Principles of Economics INTERNATIONAL 8th Edition by Robert H. Frank, ISBN-13: 978-1266052309
[PDF eBook eTextbook]
- Publisher: McGraw-Hill Education; 8th edition (March 22, 2021)
- Language: English
- 877 pages
- ISBN-10: 1266052305
- ISBN-13: 978-1266052309
Principles of Economics focuses on seven core principles to produce economic naturalists through active learning. By eliminating overwhelming detail and focusing on core principles, students from all backgrounds are able to gain a deeper understanding of economics. Focused on helping students become “economic naturalists,” people who employ basic economic principles to understand and explain what they observe in the world around them. COVID-19 pandemic content, analysis, and examples further engage students.
With engaging questions, explanations, exercises and videos, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. Throughout this process, the authors encourage students to become “economic naturalists.” Author developed Learning Glass concept overview videos and Worked Problem videos give students an overview of challenging and important concepts.
With new videos and engagement tools in Connect, like Application-Based Activities, the 8th edition enables instructors to spend class time engaging, facilitating, and answering questions instead of lecturing on the basics.
Table of Contents:
Cover Page
Title Page
Copyright Page
Dedication
About the Authors
Preface
Distinguishing Features
Economic Naturalist Video SERIES
Economic Naturalist Examples
Supplements
Connect Economics Asset Alignment with Bloom’s Taxonomy
Connect
Comparison Guide for Frank, Bernanke, Antonovics, and Heffetz Products
Brief Contents
Contents
PART 1 Introduction
Chapter 1 Thinking Like an Economist
Chapter 2 Comparative Advantage
Chapter 3 Supply and Demand
PART 2 Competition and the Invisible Hand
Chapter 4 Elasticity
Chapter 5 Demand
Chapter 6 Perfectly Competitive Supply
Chapter 7 Efficiency, Exchange, and the Invisible Hand in Action
PART 3 Market Imperfections
Chapter 8 Monopoly, Oligopoly, and Monopolistic Competition
Chapter 9 Games and Strategic Behavior
Chapter 10 An Introduction to Behavioral Economics
Chapter 11 Externalities, Property Rights, and the Environment
PART 4 Economics of Public Policy
Chapter 12 The Economics of Information
Chapter 13 Labor Markets, Poverty, and Income Distribution
Chapter 14 Public Goods and Tax Policy
PART 5 International Trade
Chapter 15 International Trade and Trade Policy
PART 6 Macroeconomic: Issues and Data
Chapter 16 Macroeconomics: The Bird’s-Eye View of the Economy
Chapter 17 Measuring Economic Activity: GDP and Unemployment
Chapter 18 Measuring the Price Level and Inflation
PART 7 The Economy in the Long Run
Chapter 19 Economic Growth, Productivity, and Living Standards
Chapter 20 The Labor Market: Workers, Wages, and Unemployment
Chapter 21 Saving and Capital Formation
Chapter 22 Money, Prices, and the Federal Reserve
Chapter 23 Financial Markets and International Capital Flows
PART 8 The Economy in the Short Run
Chapter 24 Short-Term Economic Fluctuations: An Introduction
Chapter 25 Spending and Output in the Short Run
Chapter 26 Stabilizing the Economy: The Role of the Fed
Chapter 27 Aggregate Demand, Aggregate Supply, and Inflation
PART 9 The International Economy
Chapter 28 Exchange Rates and the Open Economy
Glossary
Index
Professor Heffetz received his B.A. in physics and philosophy from Tel Aviv University in 1999 and his Ph.D. in economics from Princeton University in 2005. He is an Associate Professor of Economics at the Samuel Curtis Johnson Graduate School of Management at Cornell University, where he has taught since 2005. Bringing the real world into the classroom, Professor Heffetz has created a unique macroeconomics course that introduces basic concepts and tools from economic theory and applies them to current news and global events. His popular classes are taken by hundreds of students every year, on the Cornell Ithaca campus and, via live videoconferencing, in dozens of cities across the U.S., Canada, and beyond. Professor Heffetz’s research studies the social and cultural aspects of economic behavior, focusing on the mechanisms that drive consumers’ choices and on the links between economic choices, individual well-being, and policymaking. He has published scholarly work on household consumption patterns, individual economic decision making, and survey methodology and measurement. He was a visiting researcher at the Bank of Israel during 2011, is currently a Faculty Research Fellow at the National Bureau of Economic Research (NBER), and serves on the editorial board of Social Choice and Welfare.
Robert H. Frank received his M.A. in statistics from the University of California at Berkeley in 1971, and his Ph.D. in economics in 1972, also from U.C. Berkeley. He is the Goldwin Smith Professor of Economics at Cornell University, where he has taught since 1972 and where he currently holds a joint appointment in the department of economics and the Johnson Graduate School of Management. He has published on a variety of subjects, including price and wage discrimination, public utility pricing, the measurement of unemployment spell lengths, and the distributional consequences of direct foreign investment. For the past several years, his research has focused on rivalry and cooperation in economic and social behaviour.
Professor Antonovics received her B.A. from Brown University in 1993 and her Ph.D. in economics from the University of Wisconsin in 2000. Shortly thereafter, she joined the faculty in the Economics Department at the University of California, San Diego, where she has been ever since. Professor Antonovics is known for her superb teaching and her innovative use of technology in the classroom. Her highly popular introductory-level microeconomics course regularly enrolls over 450 students each fall. She also teaches labor economics at both the undergraduate and graduate level. In 2012, she received the UCSD Department of Economics award for best undergraduate teaching. Professor Antonovics’s research has focused on racial discrimination, gender discrimination, affirmative action, intergenerational income mobility, learning, and wage dynamics. Her papers have appeared in the American Economic Review, the Review of Economics and Statistics, the Journal of Labor Economics, and the Journal of Human Resources. She is a member of both the American Economic Association and the Society of Labor Economists.
2022 Nobel Prize winner, Professor Bernanke received his B.A. in economics from Harvard University in 1975 and his Ph.D. in economics from MIT in 1979. He taught at the Stanford Graduate School of Business from 1979 to 1985 and moved to Princeton University in 1985, where he was named the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs where he served as chair of the Economics Department. Professor Bernanke is currently a Distinguished Fellow in Residence with the Economic Studies Program at the Brookings Institution.
Professor Bernanke was sworn in on February 1, 2006, as chair and a member of the Board of Governors of the Federal Reserve System; his second term expired January 31, 2014. Professor Bernanke also served as chair of the Federal Open Market Committee, the Fed’s principal monetary policymaking body. Professor Bernanke was also chair of the President’s Council of Economic Advisers from June 2005 to January 2006. Professor Bernanke’s intermediate textbook, with Andrew Abel and Dean Croushore, Macroeconomics, 9th Edition (Addison-Wesley, 2017), is a best-seller in its field. He has authored numerous scholarly publications in macroeconomics, macroeconomic history, and finance. He has done significant research on the causes of the Great Depression, the role of financial markets and institutions in the business cycle, and measurement of the effects of monetary policy on the economy.
Professor Bernanke has held a Guggenheim Fellowship and a Sloan Fellowship, and he is a Fellow of the Econometric Society and of the American Academy of Arts and Sciences. He served as the director of the Monetary Economics Program of the National Bureau of Economic Research (NBER) and as a member of the NBER’s Business Cycle Dating Committee. From 2001 to 2004 he served as editor of the American Economic Review, and as president of the American Economic Association in 2019. Professor Bernanke’s work with civic and professional groups includes having served two terms as a member of the Montgomery Township (New Jersey) Board of Education.
In 2022, Dr. Bernanke, was awarded the Nobel Prize in Economics in Stockholm, Sweden. He was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2022 for his work on bank runs and measures to prevent them. He changed our understanding of economic downturns. Dr. Bernanke’s research showed how bank runs and failed monetary policy prolonged the Great Depression (1929-1939). Bernanke’s work was invaluable during the 2008 global financial crisis when, as Fed Chair, he applied the lessons from the great depression and pioneered the emergency lending programs the central banks used to address the crisis.
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