Economics

In Economics: A Contemporary Introduction, I draw upon more than a quarter century of teaching and research to convey the vitality, timeliness, and evolving nature of economics. This book starts where the students are, not where instructors would like them to be. This edition is filled with down-to-earth examples that turn the abstract into the concrete to help students learn. Topics common to both macro- and microeconomics are covered in the first four chapters. My approach to microeconomics underscores the role of time and information in production and consumption. For macroeconomics I use the aggregate demand and aggregate supply model to underscore the fundamental distinction between the active approach and the passive approach. International issues are introduced early and discussed often. I use case studies as real-world applications to reinforce ideas in the chapter and to demonstrate the relevance of economic theory. - Preface.