Synopsis: : Essential Foundations of Economics & MyEconLab Student Access Code Card |
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A practice-oriented learning system that breaks the traditional textbook mold.
To help the Student focus on the most important concepts–and effectively practice application of those concepts–Essential Foundations of Economics is structured around a Checklist/Checkpoint system. The result is a patient, confidence-building textbook that prepares the student to use economics in their everyday life, regardless of what their future Career will be.
The fifth Edition contains well-targeted content adjustments that offer more examples, dynamic chapter openers, and applications containing compelling content and real-world issues.
MyEconLab New Design is now available for this title! MyEconLab New Design offers:
1. One Place for All of Your Courses. Improved registration experience and a single point of access for instructors and students who are Teaching and learning multiple MyLab/Mastering courses.
2. A Simplified User Interface. The new user interface offers quick and easy access to Assignments, Study Plan, eText & Results, as well as additional option for course customization.
3. New Communication Tools. The following new communication tools can be used to Foster collaboration, class participation, and group work.
1. Email: Instructors can send emails to their entire class, to individual students or to instructors who has access to their course.
2. Discussion Board: The discussion board provides students with a space to respond and react to the discussions you create. These posts can also be separated out into specific Topics where students can share their opinions/answers and respond to their fellow classmates’ posts.
3. Chat/ ClassLive: ClassLive is an interactive chat tool that allows instructors and students to communicate in real time. ClassLive can be used with a group of students or one-on-one to share Images or PowerPoint presentations, draw or write Objects on a whiteboard, or send and received graphed or plotted equations. ClassLive also has additional Classroom Management tools, including polling and hand-raising.
4. Enhanced eText. Available within the Online course materials and offline via an iPad app, the enhanced eText allows instructors and students to highlight, bookmark, take notes, and share with one another.
1. Getting Stated
2. The U.S. and Global Economies
3. The Economic Problem
4. Demand and Supply
5. Elasticities of Demand and Supply
6. Efficiency and Fairness of Markets
7. Government Actions in Markets
8. Global Markets in Action
9. Externalities and The Environment
10. Production and Cost
11. Perfect Competition
12. Monopoly
13. Monopolistic Competition and Oligopoly
14. GDP: A Measure of Today Production and Income
15. Jobs and Unemployment
16. The Cpi and the Cost of Living
17. Potential GDP and Economic Growth
18. Money and the Monetary System
19. AS-AD and the Business Cycle
1. Focus on core concepts: Each chapter focuses students’ attention on 3–5 key concepts so students understand how the various details fit back into the larger picture.
2. Learn by doing: Essential Foundations of Economics and its accompanying print and online resources are structured to encourage learning by doing. Within the text, a Checklist-Checkpoint system provides a practice-oriented framework:
1. Checklists begin each chapter to preview the 3–5 key ideas students need to know, and the chapter is broken into discrete sections devoted to each of those ideas.
2. Checkpoints follow each of those sections and provide a full page of practice. Each Checkpoint includes a practice problem with a guided solution and a parallel exercise for the student to try.
3. Chapter Checkpoints end each chapter and include a summary of key points and key terms, as well as additional practice opportunities consisting of problems and exercises, news analysis questions, critical thinking questions, and Web exercises that require students to find data and information online to answer discussion questions.
2. In-text problems, assignable online in MyEconLab: Bade and Parkin are the only economics authors who write their own content in an online assessment platform. For Foundations of Economics, here are a few examples of what they wrote for Pearson’s online assessment and tutorial system, MyEconLab:
1. Checkpoints in the text are available for students to practice online in MyEconLab. Checkpoint problems appear in study mode where students can work them using tutorial learning aids as needed. Checkpoint exercises are available in a self-test mode so students are encouraged to work them independently before getting feedback.
2. News Analysis Questions are found in the end-of-chapter material and online in MyEconLab. These questions ask students to interpret a news story then answer related questions that apply economic concepts.
3. End-of-chapter problems and exercises are also developed as auto-graded questions in MyEconLab. Instructors can assign end-of-chapter problems online - even problems with graphing, fill-in-the-blank, and numerical entries.
4. Economics in the News is updated every day during the school year by the authors themselves. Each entry provides a summary of the news, a link to the complete story, and discussion questions.
5. Additional learning tools include audio-narrated animations, interactive graphs, customized feedback, and guided solutions.
3. Instructors can encourage students to practice - without needing to grade by hand - by using MyEconLab.
1. Professors can choose how much time – r how little – they want to spend setting up the course. View a sample of how instructors use MyEconLab here.
2. Computer-graded graphing exercises help students become more comfortable and proficient working with economic graphs and models.
3. Online homework, quizzes, and tests are easy to assign, allowing instructors to build assessments using a mix of MyEconLab-specific problems, Test Bank questions, and questions written by the instructor using the Econ Exercise Builder.
4. A robust gradebook tracks students’ performance on online homework, quizzes, tests, and problems worked in the Study Plan.
4. Supplements are reliable and easy to use because they align with the same Checklist-Checkpoint structure found in the text. A complete suite of instructor supplements is available, including an Instructor’s Manual, a new Solutions Manual, three Test Banks, PowerPoint® lecture slides, and an Instructor’s Resource CD-ROM.
1. Test Bank questions include graphing questions and integrative questions in each chapter.
2. All components of the supplements are organized by Checkpoint topic so students can move easily through the textbook, MyEconLab, and the Study Guide, and instructors can navigate among the textbook, MyEconLab, the PowerPoint lecture slides, the Instructor’s Manual, and the Test Banks.
3. Three separate Test Banks are available, with more than 12,000 multiple-choice, numerical, fill-in-the-blank, short-answer, and essay questions, plus integrative questions that build on material from more than one Checkpoint and more than one chapter.
4. The Test Bank authors also wrote questions for the Study Guide to ensure consistency.
5. News analysis and data-driven problems at the end of each chapter include:
1. News-based end-of-chapter questions that give news summaries and ask students to apply economics to the news.
2. Web exercises that ask students to seek out real data on the web and use it to answer questions.
6. Modern micro and macro topics are presented at an accessible level that uses contemporary examples to tie theory into the real world.
MyEconLab New Design is now available for this title! MyEconLab New Design offers:
1. One Place for All of Your Courses. Improved registration experience and a single point of access for instructors and students who are teaching and learning multiple MyLab/Mastering courses.
2. A Simplified User Interface. The new user interface offers quick and easy access to Assignments, Study Plan, eText & Results, as well as additional option for course customization.
3. New Communication Tools. The following new communication tools can be used to foster collaboration, class participation, and group work.
1. Email: Instructors can send emails to their entire class, to individual students or to instructors who has access to their course.
2. Discussion Board: The discussion board provides students with a space to respond and react to the discussions you create. These posts can also be separated out into specific topics where students can share their opinions/answers and respond to their fellow classmates’ posts.
3. Chat/ ClassLive: ClassLive is an interactive chat tool that allows instructors and students to communicate in real time. ClassLive can be used with a group of students or one-on-one to share images or PowerPoint presentations, draw or write objects on a whiteboard, or send and received graphed or plotted equations. ClassLive also has additional classroom management tools, including polling and hand-raising.
4. Enhanced eText. Available within the online course materials and offline via an iPad app, the enhanced eText allows instructors and students to highlight, bookmark, take notes, and share with one another.
New To This Edition
The evolving U.S. and global economies continue to provide a rich display of economics in action, through which students can be motivated to discover the economic way of thinking. The ongoing expansion of international trade and outsourcing, the continued spectacular expansion of China and India, enhanced concern about climate change, relentless pressure on the federal budget from the demands of an aging population and increased defense and homeland security expenditures, a plunging dollar, and an ongoing U.S. international deficit and ever growing national and international debt are just a few of these interest-arousing events. All of them are featured at the appropriate points in our new edition.
The Essential Foundations of Economics by Bade/Parkin, fifth edition sparkles with a well-targeted content adjustment. In-text examples, dynamic chapter openers, and applications contain compelling content and real-world issues. We elevated My Econ Lab (MEL) and integrated the story to ensure that it is a more visual feature. This edition capitalizes on the seamless connection between the text and the e-environment to highlight how the authors’ emphasis on continuous practice is integrated throughout the entire Bade/Parkin learning system. The fifth edition MyEconLab course and the accompanying print supplements were written in tandem with the textbook.
Key Themes
Enhance student focused feedback in MyEconLab with personalized Study Plan questions, more guided solutions, and number and quality of news-based application questions. Tighter connection between the texts pedagogical system and MyEconLab. Checkpoint questions mirror the Study Plan. A reorganization of end of chapter Checkpoints so that page 1 of 3 is Test A, and pages 2 and 3 will be instructor assignable. Half of these are news-based application problems. New coverage of important issues such as health care, immigration, energy, and the global financial crisis. Integrated coverage of behavioral economies.
Changes to the micro chapters include:
Chapter 2: The U.S. and Global Economies will focus more strongly on the theme of an interdependent world. The U.S. is heavily influenced by Asia and Europe, and the circular flow introduced in this chapter will be extended to include trade. The revisions here are featured in the macroeconomics split too. Chapter 4: The Economic Problem includes more Eye-On boxes early on in the chapter. Chapter 5: Elasticities of Demand and Supply. We added a table of equations and a summary guideline for students. Chapter 7: Renamed “Government Actions in Markets”.
Changes to the macro chapters include:
Chapter 11: "The Monetary System". In this chapter, we will now discuss the explosion of the federal balance sheet and the tools that have been introduced to deal with the crisis. Chapter 12: "Money, Interest, and Inflation" features new material that will help to explain why the quantity theory of money is not doing a sufficient job in today’s economic climate. Chapter 14: "Aggregate Expenditure" includes new coverage on the stimulus package and fiscal multipliers. Chapter 16: "Fiscal Policy," and Chapter 17, "Monetary Policy" includes several new Eye On applications, with content drawn from the current financial crisis. Chapter 16 also includes material on the Fed’s fiscal policy. Chapter 19: "International Finance" includes additional coverage of the exchange rate, in terms of today’s changing global economic climate. Changes to overall pedagogy include:
New ! EyeOn box that builds off of the question proposed at the beginning of each chapter. These boxes help students see the economics behind important issues facing our world and highlight a major aspect of the chapter's story. Applications are revised to be even more relevant, modern, and appealing to students. News analysis questions appear in the end-of-chapter problems, giving students a news summary and asking them to apply economic concepts to an issue or event. New content within MyEconLab includes:
News analysis questions from the text are assignable in MyEconLab, asking students to read a news story and then answer problems that are numerical, graphing, fill-in - the-blank, and multiple-choice. Problem sets are substantially revised and updated to be even more synchronous with the problems in the text. Checkpoints and end-of-chapter problems in the text more accurately reflect MyEconLab’s question format. End-of-chapter questions and checkpoint problems are available in MyEconLab.
The evolving U.S. and global economies continue to provide a rich display of economics in action, through which students can be motivated to discover the economic way of thinking. The ongoing expansion of international trade and outsourcing, the continued spectacular expansion of China and India, enhanced concern about climate change, relentless pressure on the federal budget from the demands of an aging population and increased defense and homeland security expenditures, a plunging dollar, and an ongoing U.S. international deficit and ever growing national and international debt are just a few of these interest-arousing events. All of them are featured at the appropriate points in our new edition.
The Essential Foundations of Economics by Bade/Parkin, fifth edition sparkles with a well-targeted content adjustment. In-text examples, dynamic chapter openers, and applications contain compelling content and real-world issues. We elevated My Econ Lab (MEL) and integrated the story to ensure that it is a more visual feature. This edition capitalizes on the seamless connection between the text and the e-environment to highlight how the authors’ emphasis on continuous practice is integrated throughout the entire Bade/Parkin learning system. The fifth edition MyEconLab course and the accompanying print supplements were written in tandem with the textbook.
Key Themes
1. Enhance student focused feedback in MyEconLab with personalized Study Plan questions, more guided solutions, and number and quality of news-based application questions.
2. Tighter connection between the texts pedagogical system and MyEconLab.
3. Checkpoint questions mirror the Study Plan.
4. A reorganization of end of chapter Checkpoints so that page 1 of 3 is Test A, and pages 2 and 3 will be instructor assignable. Half of these are news-based application problems.
5. New coverage of important issues such as health care, immigration, energy, and the global financial crisis. Integrated coverage of behavioral economies.
Changes to the micro chapters include:
1. Chapter 2: The U.S. and Global Economies will focus more strongly on the theme of an interdependent world. The U.S. is heavily influenced by Asia and Europe, and the circular flow introduced in this chapter will be extended to include trade. The revisions here are featured in the macroeconomics split too.
2. Chapter 4: The Economic Problem includes more Eye-On boxes early on in the chapter.
3. Chapter 5: Elasticities of Demand and Supply. We added a table of equations and a summary guideline for students.
4. Chapter 7: Renamed “Government Actions in Markets”.
Changes to the macro chapters include:
1. Chapter 11: "The Monetary System". In this chapter, we will now discuss the explosion of the federal balance sheet and the tools that have been introduced to deal with the crisis.
2. Chapter 12: "Money, Interest, and Inflation" features new material that will help to explain why the quantity theory of money is not doing a sufficient job in today’s economic climate.
3. Chapter 14: "Aggregate Expenditure" includes new coverage on the stimulus package and fiscal multipliers.
4. Chapter 16: "Fiscal Policy," and Chapter 17, "Monetary Policy" includes several new Eye On applications, with content drawn from the current financial crisis. Chapter 16 also includes material on the Fed’s fiscal policy.
5. Chapter 19: "International Finance" includes additional coverage of the exchange rate, in terms of today’s changing global economic climate.
Changes to overall pedagogy include:
1. New ! EyeOn box that builds off of the question proposed at the beginning of each chapter. These boxes help students see the economics behind important issues facing our world and highlight a major aspect of the chapter's story.
2. Applications are revised to be even more relevant, modern, and appealing to students.
3. News analysis questions appear in the end-of-chapter problems, giving students a news summary and asking them to apply economic concepts to an issue or event.
New content within MyEconLab includes:
1. News analysis questions from the text are assignable in MyEconLab, asking students to read a news story and then answer problems that are numerical, graphing, fill-in - the-blank, and multiple-choice.
2. Problem sets are substantially revised and updated to be even more synchronous with the problems in the text. Checkpoints and end-of-chapter problems in the text more accurately reflect MyEconLab’s question format. End-of-chapter questions and checkpoint problems are available in MyEconLab.