Principles of Economics: A Policy Approach
Andy Barnett
American University of Sharjah
Auburn University
description features outline sample copy
College
students taking introductory economics are saddled with encyclopedic textbooks
that they have little hope to read and digest. Textbooks expand to ensure
including topics wanted by instructors and potential adapters. The resulting
technical detail and jargon overwhelm the typical student and leave them with
little working knowledge and a negative impression of economics.
Our
manuscript has proven a workable mechanism in the classroom for providing
students with a sound understanding of the economics toolkit. The focus is on
developing the ability to apply economic reasoning to policy issues.
The
text can be completely read and understood in one term by the typical US
college sophomore. There is a version designed for an introductory economics
with both microeconomics and macroeconomics, and a version with microeconomics
only. Applications to straightforward policy issues are included throughout the
text, including sections on applications in each chapter as well as chapters
that deal strictly with critical policy issues.
The
typical economics text for a one term course is a shortened version of a longer
text with enough material cut to make the book manageable. The result is
generally less than cohesive. In the typical text, applications are additions
sprinkled on top of theoretical discussion.
Our
text comes from an entirely different background and perspective. It grew from
a course in political economy stressing policy issues such as environmental
regulation, taxes, price controls, electricity deregulation, free trade,
antitrust, special interest politics, lobbying, and labor issues. It addresses
policy issues with only the minimal sufficient economic theory. There is
sufficient economic theory to give students solid grounding in principles while
maintaining the focus on policy issues.
Macroeconomics
is approached from its microeconomic foundation in neoclassical growth and
overlapping generations models. Open economy issues such as the international
investment and the exchange rate are an integral part of the presentation
rather than a separate unrelated chapter.
The manuscript has been
class tested.
The topics
that we cover focus on policy issues and the manuscript is organized along
those lines. The level of writing is suitable for the typical college sophomore
or freshman. Our manuscript is very distinctive, and we know of no similar
approach to the principles of economics.
A
course in the principles of economics is required at US colleges and
universities. There are now many one-term introductory courses in economics.
Our text could be used in a one-term principles course for undergraduates or
MBAs, or in a one-term principles of microeconomics course.
· focus on
policy and political economy
· sufficient
theory for a solid grounding in principles
· theory
developed through policy issues
· microeconomic foundations
of macroeconomics
· open economy macroeconomics integrated completely
Pedagogy
·
compact presentation stressing basics
·
theory developed with diagrams
·
clear English with little jargon
Supplements
· Power Point
slides
·
Web page
Level
·
freshman or sophomore introductory economics
·
typical state university or junior college
·
MBA
economics
Chapter Title
1 What is
Economics?
Appendix: Beginning to
Use Graphs
2 Costs and
Prices
3 Demand
4 The Basics of
Supply
5 Elasticity
6 Markets:
Equilibrium, Price Controls, and Taxes
7 Efficiency
and Market Failure
8 Industry
Structure from Competition to Monopoly
9 Factor
Markets: Labor, Capital, and Natural Resources
10 International
Trade and Trade Policy
11 Examples of Market
Control
12 Environmental
Policy
13 Macroeconomic
Production and Growth
14 Saving and
Investment
15 Government
Spending and Taxation
16 Money
17 International
Macroeconomic Policy Issues
18 Macroeconomic
Policy