Economic Way of Thinking, The (11th Edition)

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9780131543690: Economic Way of Thinking, The (11th Edition)

Primarily for a one-semester survey course in general economics. The Economic Way of Thinking develops the basic principles of micro- and macroeconomic analysis, and employs them as tools rather than ends unto themselves. This text introduces students to a method of reasoning; to think like an economist through example and application. It even teaches by showing students how not to think, by exposing them to the errors implicit in much popular reasoning about economic events.

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From the Publisher:

Noted for its clear and informative style, this acclaimed text provides an in-depth discussion of a limited, but crucial set of economic principles and concepts, then applies these tools of analysis to a wide variety of familiar situations. Heyne presents conceptually demanding material in a lively, often witty fashion that is both accessible and pertinent for beginning students. The goal of this text is to help students think by developing the key insights into economic theory and applying these insights to numerous real-world examples.

From the Back Cover:

Ideal for those with little or no background in economics, this book provides an in-depth discussion of a limited, but crucial set of economic principles and concepts--then applies these tools of analysis to a wide variety of familiar situations. It presents conceptually demanding material in an informal, lively, often witty fashion and prepares readers to be able to clarify, systematize, and make sense out of the economic "news" and "views" they encounter everyday in newspapers, political messages, etc. It covers sophisticated--but simple--economic theory and features extended applications that challenge customary ways of thinking. The Economic Way of Thinking. Substitutes Everywhere: The Concept of Demand. Opportunity Cost and the Supply of Goods. Supply and Demand: A Process of Cooperation. Supply and Demand: Issues and Applications. Efficiency, Exchange, and Comparative Advantage. Information, Middlemen, and Speculators. Price Setting and the Question of Monopoly. Price Searching. Competition and Government Policy. Profit. The Distribution of Income. Externalities and Conflicting Rights. Markets and Government. The Overall Performance of Economic Systems. The Supply of Money. Monetary and Fiscal Policies. National Policies and International Exchange. Employment and Unemployment. Promoting Economic Growth. Economic Performance and Political Economy. The Limitations of Economics. For anyone wanting an accessible introduction to economic principles and their application to everyday situations.

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