Principles of Economics covers the scope and sequence for a two-semester principles of economics course. Read this book. Online · PDF · Print B&W · ePub. Free economics books on macroeconomics, microeconomics, industrial economics, management. Links to This site presents you the basic neoclassical consumer theory and its opposite evolutionary Download this free book in PDF format. Our free economics books for students will help you understand the principles of economics. Read up on for instance microeconomics, macroeconomics and.
- Principles of Economics
- Conditions of Use
- Introduction to economics - Supply, demand, and market equilibrium - Economics - Khan Academy
- Read this book
Attribution CC BY. The text includes far more than what could be included in a two semester sequence of micro and macro. Chapters on international trade, environmental economics, poverty and inequality, and many others are included.
Comprehensiveness rating: 5 see less. By and large the content is fairly up to date. However, since Jerome Powell has been chair of the FED since February of the profile of former chair, Janet Yellen, in chapter 28 needs to be replaced. The text presents Yellen as the current chair and expresses optimism in her prospects!
Key concepts are usually followed by a sentence or two that -in as simple of terms as possible-highlights the significance of that topic. For example, in chapter 6, after going through the equimarginal principle the choice to purchase and consume more of an item because the buyer is getting "more bang for the buck".
These things may seem obvious to us but are incredibly value for students struggling to see what the key point of what they are reading. The text is consistent in terms of both terminology and its framework. Each chapter begins with a bring it home section presenting a a key question that chapter will address and finishes the chapter with a discussion of that topic in terms of the content of that chapter.
Each chapter ends with a summary of key concepts and the chapter overall. To a certain degree there is little scope for creativity in a principles text in terms of how to sequence topics.
For example, production possibilities, opportunity cost, and the supply and demand model must be discussed early in the term, Each chapter is well organized beginning with a problem that by the end of the chapter the reader should be able to address more deeply.
There are also sections that link topics to relevant examples, clarify difficult concepts, and work through more technical material in a step by step manner.
I had some difficulty with the interface. The text has convenient links to terms, topics, diagrams, and tables referred to earlier. Such links are also found in the index. Once done reviewing the reader is left on her own to find out where she was in the text. I developed a strategy that, after a while, worked.
I simply went to the table of contents and clicked on what I remembered was the section I had been reading. I think many students will find this frustrating however. This is an area of concern. Chapter 2 ends with a discussion of pursuing a college or post-graduate degree.
The authors suggest that some who fail to go beyond high school simply choose not to borrow the money needed to fund their education. This implies that all of us have equal access to credit. They go on to suggest that the decision to not borrow might reflect a preference to earn now and to enjoy oneself now.
This plays into the notion that many who are poor simply have difficulty delaying gratification. I am sure that this is not the authors' intent but I sat there reading this asking myself how I would interpret this if I were a first generation college student. It is fantastic! It is comprehensive, current, and has a great resources. It is far superior to any paid for textbook.
Principles of Economics
Because it is an open source, online book, it is kept very current. Charts, graphs, references are on point. I assign one chapter at a time. They are very succinct and reasonable for a course by course assignment. Sometimes I change up the order.
I find myself making reference to topics that come later in the book, so I try to present the fundamentals first. I think the open stax textbook is fantastic and see no reason why any class is not using this and instead is using an expensive publisher book.
This textbook is extremely comprehensive. All of the traditional micro and macro topics that would be covered in a principles course are covered extensively. There are also many additional chapters that can be used as complements to complement and There are also many additional chapters that can be used as complements to complement and supplement the traditional material.
Principles of Economics is accurate and unbiased. I was impressed with the way that controversial topics such as environmental protection, poverty, and inequality are covered.
Conditions of Use
Market-based and government-based solutions to common economic problems are presented with a fair presentation of the costs and benefits of each. The text is very relevant as there are discussions of various current economic topics.
I'm happy to see that topics like the Keystone Pipeline are discussed.
Introduction to economics - Supply, demand, and market equilibrium - Economics - Khan Academy
It will be difficult to update this text simply because it is so extensive. However, the theories behind the topics are presented in such that it will not be impossible.
I was very impressed with the clarity of this text. Many complex economic topics are covered, and for the most part, they are explained at a basic undergraduate level.
My only criticism is that words and phrases were often defined using a lot of technical terminology without extensive use of examples to supplement the definitions.
The text is very consistent. Each chapter is presented in the same format. The terminology was also very consistent. Since material builds on itself, consistency is very important. This text presents the material in a practical sequence that allows for sequential learning.
The content of this text is presented in many small sections of information. Chapters can be easily rearranged. However, the modularity within chapters is such that it may be difficult for students to see how the material builds and is related to previous material. While it's good for a text to avoid being overly self-referential, this text goes a bit too far in that the material sometimes appears unrelated when it definitely is.
The organization and structure of this text is a point of strength. The text covers a very large amount of material, so the fact that there are many chapters is a plus. The chapters are logically structured, but they are divided in such a way that it is easy to rearrange material.
The book's interfaces is great. Graphs and charts are not overly complex. Economics texts often overdue it when it comes to graphing. While graphing is important, for principles students, it should be simplified as much as possible. I didn't find this text to be culturally insensitive or offensive in any areas. Examples used and topics addressed are culturally inclusive and relevant.
This is an excellent textbook.
Economic theory principles are covered extensively, and there are a lot of supplementary and complementary topics. The material is up-to-date and it is presented in a way that gives the instructor a lot of flexibility in what, how, and when material is covered. This is a VERY comprehensive principles text. No Glossory : but the eight-page-triple column index is very thorough and complete. While I haven't gone over this text with a fine-toothed comb more of a broad brushrandom check of various sections of multiple chapters stuck me as quite good in respect to accuracy and lack of bias.
One "gripe" I have is that the name F. Hayek appears nowhere.
Other than that, pretty darn good presentation overall. OER texts often end up "between a rock and a hard place" on this issue. Contemporary examples and references certainly make a text more relevant and interesting to students, but they also guarantee some impression of being outdatted in a few short years.
This assumes no regular re-writes or revisions of course, which is the norm with most OER texts. But leaving out any references to current events can result in a text that seems bland and encyclopedic. Dang, it's a difficult balance to achieve.
The task of making economic concepts and jargon inviting and readable is an onerous one. This text manages the balance between the two fairly often.
Very consistent. Reading through the text left me with the impression that a stable of editors ruthlessly searched for and corrected any inconsistencies indeed, there were over 40 reviewers. The overall "package" felt well-organized and consistent throughout. I suppose the greatest complement I could give is to point out that this text did not look, feel, or read like a generic OER text.
It gave the impression of a product that was produced by a well-financed college text publisher. Actually, that's at least partially the case, since Timothy Taylor's second ed. Pretty darn good overall. This is tough to do with an economic principles text, given that broad blocks of material build upon themselves, much like a language or math course.
Read this book
This text's modularity is thoroughly acceptable by my standards. Super for the most part. Pretty minor complaint and easily rectified by simply omitting or re-arranging a bit.