The textbook Principles of Microeconomics is popular amongst students, and Wall Street Mojo lists it as the best introductory microeconomics book for a beginner in their article. I like how it starts out by going over ten principles of economics in chapter one.

Intermediate macroeconomics involves less new math than intermediate micro but is still conceptually challenging. For this topic, I recommend working through the textbook Macroeconomics by N. Gregory Mankiw.


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If you like economics, I would recommend that you read the Principles of Macroeconomics and Principles of Microeconomics, written by Greg Mankiw. Those are actual textbooks, and recent editions are pricey. This is why I would recommend reading earlier editions, which are available for as little as say $1 or $2 ( plus S&H).

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This is a pdf version of the latest version (6th edition) of Law and Economics by Cooter and Ulen. The ownership of this book has reverted from the publisher to its authors, so we are posting it online for everyone freely to read or use as a textbook. After more than thirty years as the field's leading textbook, it continues to cover the latest developments in the economic analysis of property, torts, contracts, legal process, and crimes. Each new edition refines the analytical core, incorporates new applications, and expands previous discussions of empirical legal studies and behavioral law and economics. We hope that you enjoy reading this book as much as we enjoyed writing it.

Students in grade eleven study the major turning points in American history in the twentieth century. Following a review of the nation's beginnings and the impact of the Enlightenment on U.S. democratic ideals, students build upon the tenth grade study of global industrialization to understand the emergence and impact of new technology and a corporate economy, including the social and cultural effects. They trace the change in the ethnic composition of American society; the movement toward equal rights for racial minorities and women; and the role of the United States as a major world power. An emphasis is placed on the expanding role of the federal government and federal courts as well as the continuing tension between the individual and the state. Students consider the major social problems of our time and trace their causes in historical events. They learn that the United States has served as a model for other nations and that the rights and freedoms we enjoy are not accidents, but the results of a defined set of political principles that are not always basic to citizens of other countries. Students understand that our rights under the U.S. Constitution are a precious inheritance that depends on an educated citizenry for their preservation and protection.

In addition to studying government in grade twelve, students will also master fundamental economic concepts, applying the tools (graphs, statistics, equations) from other subject areas to the understanding of operations and institutions of economic systems. Studied in a historic context are the basic economic principles of micro- and macroeconomics, international economics, comparative economic systems, measurement, and methods.

Paul Heyne, textbook author and economics professor at the Universityof Washington, says that too many introductory courses are designedas if every student in the class is going to be an economics major,and every economics major will earn a Ph.D., and every Ph.D. willpursue an academic career. Introductory courses become "the firststep toward a Ph.D.," Heyne says, with a heavy emphasis on techniquesthat leave most students "bewildered and alienated."

The basic college textbook remains largely unchanged since PaulSamuelson published his landmark Economics text 50years ago. With a total of 15 editions, Economicshas sold millions of copies and is easily the biggest sellingintroductory economics textbook ever written. He is widely creditedfor influencing entire generations of political thought. Havingbeen translated into 40 different languages, according to onesource, Samuelson's impact is global.

"Economics instructors and textbook authors help determine howpeople view the world in which they live. It is hard to quantify,but the indirect impact on policy is probably immense," Mankiwsays, but added, "It's probably a mistake to credit or blame anyone person or book for [creating a particular] intellectual climate.Samuelson's book was important, but it reflected a prevailingconsensus in the economics profession. If my book turns out toseem important, it will not be because it offers a distinctiveview of economics, but because it offers a clear and compellingpresentation of the current consensus among economists."

"If it hadn't gotten so much hype," Michael McElroy, professorof economics at North Carolina State says of Mankiw's text, "myreaction would have been that he had done a nice job, especiallyin easing off on some of the 'model for model's sake' stuff thatrepresents economists trying to force the world to see it justthe way they do, instead of finding more accessible metaphorsand stories that will engage noneconomists." Ultimately, though,McElroy thinks a bigger break is needed from the standard textbookmodel.

Despite the presence of literally dozens of principles textbookson the market today, there is little difference among the best-sellingtexts, according to Emmett of Augustana University College. "Thereare few texts which depart significantly from the standard fare,"Emmett says. Russell Sobel, assistant professor of economics atWest Virginia University, agrees, stating that popular mainstreamtexts "are all, in my view, substitutable."

Mark Skousen, professor of economics and finance at RollinsCollege (Fla.) and an expert on the historical evolution of theSamuelson text, concurs that a more hands-on textbook is neededbecause current textbooks "don't relate very well to what's goingon in the real world." To fill that gap, Skousen is in the midstof writing his own textbook that he believes does something "verysimple but powerful." It begins with a profit-and-loss incomestatement instead of the traditional and too-theoretical production-possibilitycurve.

I have been building a bibliography for a unit on economics with my third graders for over four years. I began by dividing my collection into concept stacks to make sure I had resources for each. Having a collection of texts and background knowledge about the content helps me to begin planning how the children can share and demonstrate what they are learning.

The scope of the book is impressive, it even includes a chapter on the recent history of macroeconomic thought, with a great discussion of the macroeconomic policy during Great Depression, and since, doing a good job integrating the tools developed in earlier chapters. I don't recall seeing anything close to this in other intro to economics textbooks that I have seen. Individual topics are developed in sufficient depth, for instance the discussion of marginal benefit and marginal cost in chapter 6 is more detailed than in most of the other textbooks that I have seen. While the scope of the coverage is great, I couldn't find an index or a glossary of terms. Important terms are highlighted in the text, but I couldn't find a list of definitions to these.

The textbook seems to be accurate, without errors, and I think the author does a good job providing a balanced view, at least judging by the standards set by other principles of economics textbooks. The inclusion of topics is very standard and the discussion seems objective. I would personally like to see inclusion of the Austrian View of the Business Cycle, and of a more critical perspective on inflation, debt, and the role of government in general.

For an economics textbook, the writing is easy to understand, which makes it accessible to a wide range of students, but may not be an ideal choice for a more advanced student who may prefer a more demanding text. I found many of the examples interesting and engaging, for instance the example of smokers being on net a positive externality in chapter 11, or the example of hockey teams maximizing profits in chapter 10.

This is a great textbook, likely to please anyone looking for a standard introductory economics text done well and freely available. The only significant downside is that it hasn't been updated since about 2010, which I find problematic for the monetary and fiscal policy discussions.

Let's face it, when preparing for a relaxed evening in front of a warm, crackling fire, hot Belgian cocoa in hand, and trusty canine underfoot, few would pull a love-worn economics text off the carved mahogany bookshelf (I'm painting a picture here) as an appealing choice for the evening's read. It is a sad reality that no viable college economics text (including this one) will ever be described on course evaluations with words such as, "lilting prose" or "Like the vampires in 'Twilight' this economics text made marginal cost curves spring to life; flying off the pages and into my heart..." However, Libby Rittenberg & Timothy Tregarthen truly do do (good thing my 13-year-old boy isn't in the room) a marvelous job of keeping the (captive) reader's interest and attention. From the references to Heraclitis in the preface to the effect of cancelled games on pro-basketball players' earnings in a later chapter, the reading is peppered with references and examples designed to clarify potentially (and actually) complex social, political, economic, and mathematical concepts. They rank, "well above the norm" among econ texts. Once again, I'm choosing a rank of 4 rather than 5. I do this for two reasons: 1) I am a bitter old man who grades way to hard (I've been told), and 2) I'm saving the ultimate-highest-rank of 5 for when they finally make a digital text that plugs directly into the higher learning centers of our students' cortices (directly bi-passing the sizable portions of their brains dedicated to Netflix and pizza). ff782bc1db

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