by Timothy Taylor

Updated August, 2008. Version 2.0 by Timothy Taylor (Managing Editor,The Journal of Economic Perspectives; Macalester College). 710 pages. An introductory economics textbook for the first decade of the 21st century needs to create strong connections between the basic concepts of the course and the economic subjects of high interest to students. The fundamental tools and terms of introductory economics -- including supply and demand, perfect and imperfect competition, externalities and public goods, economic growth, unemployment and inflation, international trade, fiscal and monetary policy -- are set forth with a combination of step-by-step explanations and lively examples, drawing on the author’s experience as an award-winning teacher. The examples and structure throughout the book also draw out some issues on the radar screens of many students. For example, the book integrates international examples and analysis throughout the text, rather than following the outdated tradition of segregating this material in the last chapter or two of the book. It discusses a number of real-world examples, in business, and public policy. It emphasizes a basic understanding of macroeconomic terms in the news like growth, inflation, unemployment, budget deficits, the balance of trade, and the Federal Reserve. The book provides the solid grounding in economic analysis that will introduce students to the subject and prepare some of them for future courses in economics, while also providing the core economic literacy that students want and need.

Book Information / Sample Chapter(s) (PDF)