ECON: MICRO3

  • includes CourseMate Printed Access Card
  • AUTHOR: William A. McEachern
  • ISBN-13: 9781111822217 
  • Grade(s): 9 | 10 | 11 | 12
  • 352 Pages  Paperback 
  • 3rd Edition  |  Previous Editions: 2010, 2009
  • ©2012     Published
  • Prices are valid only in the respective region

Overview

About The Product

Created through a "student-tested, faculty-approved" review process with an extensive number of students and faculty, ECON: MICRO, 3E is an engaging and accessible solution that accommodates the diverse lifestyles of today's learners at a value-based price – all without sacrificing content. ECON: MICRO, 3E 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, 3E'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 CourseMate, work with this edition's well-crafted approach to help your students master microeconomics principles while saving you valuable time.

Features

  • AN INNOVATIVE COMBINATION OF CONTENT IN PRINT AND ONLINE PROVIDES A SOLID CORE TEXT AND WEALTH OF COMPREHENSIVE MULTIMEDIA TEACHING AND LEARNING ASSETS. Based on extensive input from student focus groups and surveys and from interviews with numerous faculty and students, this magazine-style core text and wealth of integrated multimedia teaching and learning resources produce an engaging and accessible solution that appeals to different learning styles at a value-based price.
  • SHORTER, COMPREHENSIVE CHAPTERS COMMUNICATE MICROECONOMIC CONCEPTS WITHIN A MODERN DESIGN. This edition uses an engaging and accessible format to deliver complete microeconomics content without minimizing coverage for your course.
  • CHAPTER-IN-REVIEW CARDS AT THE BACK OF THE STUDENT EDITION PROVIDE STUDENTS WITH A PORTABLE STUDY TOOL. Chapter-in-Review Cards contain all of the pertinent information students need for effective class preparation.
  • INSTRUCTOR PREP CARDS MAKE CLASS PREPARATION SIMPLE. Detachable Instructor Prep Cards for each chapter, conveniently located in the back of the Instructor's Edition, offer 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.
  • A FULL SUITE OF UNIQUE LEARNING TOOLS APPEAL TO DIFFERENT LEARNING STYLES. Extensive online study tools are available to students with the purchase of a new book. Multimedia resources include online quizzing, audio downloads, video podcasts and more, only a click away.
  • CONTENT AND RESOURCES PROVIDE A SUPPLEMENT PACKAGE THAT IS SECOND TO NONE. This edition provides all of the content and resources you expect with a supplement package that includes Aplia® leading homework solution, CourseMate comprehensive online tools, PowerPoint® slides, an Instructor's Manual, Test Bank, and ExamView™.
  • LEADING APLIA™ ONLINE HOMEWORK SYSTEM INCREASES STUDENT EFFORTS AND ENGAGEMENT. The most successful online product for economics is now fully integrated with this ECON: MICRO3 text. Aplia™ offers interactive tools help prepare your economics students and increase student effort and engagement—without requiring more work from you, the instructor. Students stay on top of coursework with regularly scheduled homework assignments while Aplia's high quality automatic grading provides detailed, immediate feedback.
  • EXAMPLE-DRIVEN APPROACH CONNECTS MICROECONOMIC CONCEPTS TO FAMILIAR STUDENT EXPERIENCES. Award-winning author Will McEachern leads by example, introducing each economic idea by using common everyday student experiences to help bridge the gap between what students already know and the unfamiliar world of economics.
  • "RULES OF THE GAME" IN EACH CHAPTER EMPHASIZE CONCEPTS SHAPING MARKETS AND ECONOMIC DEVELOPMENTS. Within each chapter author Will McEachern emphasizes intriguing "rules of the game" that are shaping markets and promoting economic development, such as the protection of intellectual property rights. These intriguing discussions capture students' attention and emphasize the relevance of what students are learning.

About the Contributor

AUTHOR
  • 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.

Table of Contents

Part I: INTRODUCTION TO ECONOMICS.
1. The Art and Science of Economic Analysis.
2. Economic Tools and Economic Systems.
3. Economic Decision Makers.
4. Demand, Supply, and Markets.
Part II: INTRODUCTION TO THE MARKET SYSTEM.
5. Elasticity of Demand and Supply.
6. Consumer Choice and Demand.
7. Production and Cost in the Firm.
Part III: MARKET STRUCTURE AND PRICING.
8. Perfect Competition.
9. Monopoly.
10. Monopolistic Competition and Oligopoly.
Part IV: RESOURCE MARKETS.
11. Resource Markets.
12. Labor Markets and Labor Unions.
13. Capital, Interest, Entrepreneurship and Corporate Finance.
14. Transaction Costs, Imperfect Information, and Behavioral Economics.
Part V: MARKET FAILURE AND PUBLIC POLICY.
15. Economic Regulation and Antitrust Policy.
16. Public Goods and Public Choice.
17. Externalities and Environment.
18. Income Distribution and Poverty.
Part VI: INTERNATIONAL ECONOMICS.
19. International Trade.
20. International Finance.
21. Economic Development.

New to this Edition

  • NEW MATERIAL HIGHLIGHTS THE IMPACT OF THE RECENT RECESSION ON MICROECONOMICS DECISIONS. Coverage of macroeconomics and economic fluctuations in Chapter 1 sets the groundwork for discussions within the micro section of how the recent recession has affected particular micro decisions.
  • NEW DIAMOND CASE STUDY HIGHLIGHTS RECENT GLOBAL ECONOMIC TURMOIL TO EXEMPLIFY MACRO ECONOMY SPILLING INTO MICRO ECONOMY. This new case study in Chapter 9 examines details of the global economic turmoil of 2008 and 2009 to demonstrate how the macro economy spills into the micro economy.
  • NEW COVERAGE HIGHLIGHTS TODAY'S GROWING INTEREST IN ENTREPRENEURSHIP. A new section within the Capital, Interest, and Corporate Finance chapter (Ch.13) emphasizes entrepreneurship in today's times.
  • NEW MATERIAL EMPHASIZES BEHAVIORAL ECONOMICS AND FACTORS IMPACTING ECONOMIC DECISIONS. A new section added to coverage of Transaction Costs and Imperfect Information (Ch. 14) highlights behavioral economics to help students better understand the factors behind and impact of economic decisions by individuals and institutions today.
  • NEW REVISED MERGER GUIDELINES KEEP STUDENT LEARNING UP TO DATE WITH THE LATEST DEVELOPMENTS. This edition's chapter on Economic Regulation and Antitrust Policy (Ch. 15) provides new coverage that reflects revised merger guidelines from the FTC and Justice Department.
  • NEW MATERIAL REFLECTS RECENT RELEVANT EVENTS, SUCH AS ECONOMIC RAMIFICATIONS OF OIL SPILLS. In the chapter on Externalities and the Environment (Ch. 17) new discussion highlights the impact of oil spills and water pollution. A new case study specifically explores the recent BP oil spill.
  • NEW COVERAGE OF WELFARE ADDRESSES RECENT DECLINES. A new section in Chapter 18 highlights how today's welfare rolls have declined and the impact of this on the economy.
  • COVERAGE HIGHLIGHTS NEW METHOD OF ESTIMATING ECONOMIC GROWTH IN THIRD-WORLD COUNTRIES. As part of coverage capturing the latest Economic Developments (Ch. 21), fresh material highlights a new method of estimating economic growth in countries where data is poor or nonexistent.
  • OPTIONAL COURSEMATE ONLINE RESOURCES SUPPORT INTERACTIVE LEARNING AND CLASS ENGAGEMENT. Watch student comprehension soar as your class works with the printed text and this optional, new, text-specific website. ECON: MICRO3 CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools. CourseMate steps beyond the book to deliver an interactive eBook and engaging teaching and learning tools, including quizzes, flashcards, videos, and more. Engagement Tracker, a first-of-its-kind tool, helps you monitor student engagement in your course.