This thoroughly updated new edition of this title draws on a wealth of captivating applications to show readers how economics shed light on business, politics, world affairs, and everyday life.

Engaging authors, unbiased presentations of essential ideas, and a knack for revealing the 'invisible hand' of economics at work inform the thoroughly updated new edition of Modern Principles, drawing on a wealth of captivating applications to show readers how economics shed light on business, politics, world affairs, and everyday life.

This text provides a comprehensive and unique introduction to modern microeconomics. It pursues an integrative approach by putting the main findings of economics into a broader perspective; theories are critically reflected on from a philosophical standpoint and by comparing them to approaches found in the social sciences, while implications for the design of the legal system and business practices are highlighted throughout. In addition, the book presents brief examples and comprehensive case studies to facilitate an understanding of the theories’ real-world implications. Starting from the question as to why and how societies organize economic activity, the book adopts an institutional perspective to analyze the potential and limitations of different market types with regard to alleviating scarcity and achieving distributive objectives. It not only covers traditional rational-choice models, but also systematically introduces readers to important findings from behavioral economics and psychology. A companion workbook is available which features a wide variety of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case study scenarios.

Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board's AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition was developed with significant feedback from current users. In nearly all chapters, it follows the same basic structure of the first edition. General descriptions of the edits are provided in the preface, and a chapter-by-chapter transition guide is available for instructors.

This is the companion workbook for the textbook Principles of Microeconomics. Each chapter features a wide variety of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case study scenarios. The textbook pursues an integrative approach to modern microeconomics by critically reflecting on the main findings of economics from a philosophical standpoint and comparing them to approaches found in the social sciences. It adopts an institutional perspective to analyze the potential and limitations of different market types, and highlights implications for the design of the legal system and business practices throughout. In addition to traditional rational-choice models, important findings from behavioral economics and psychology are also presented.

Available for the first time with Macmillans new online learning platform, Achieve, Modern Principles is a tour-de-force with a unique combination of vivid writing, up-to-date relevant examples, and online resources unlike any other textbook for this market. Tyler Cowen and Alex Tabarrok have long demonstrated their mastery at communicating economic principles in a clear, captivating way through their blog, The Marginal Revolution. And they are pioneers in online education. Their fully updated new edition has more high-quality material designed for online teaching than any other principles of economics textbook. Videos from Marginal Revolution University (MRU), Discovering Data questions, live links to FRED data, an e-book, and assessment all live under Macmillans new learning platform, Achieve and combine to provide an online learning product for all types of learners whether in face to face, hybrid or pure online classes.