Richard C. Schiming

　　In August 2006, we are launching a new, streamlined version of MyEconLab to better fit the needs of both students and professors. Order the ISBN above if your course begins before 8/1/06, or click here if your course begins after 8/1/06. Economics offers a novel approach to the principles of economics course based on three pedagogical principles:

　　Ongoing assessment is an essential component of the learning process;

　　Students understand concepts better when they are presented in the context of engaging stories;

　　Students remember more when they connect concepts to what they see or read in the news and what they experience in their every day life.

　　Quality assessment permeates every component of Microeconomics, the first textbook to offer a class-tested test bank. MyEconLab s innovative online homework and tutorial system, with its innovative computer-grade graphing exercises, is tightly linked to the text.

　　Michael A. Leeds, Temple University
　　Peter von Allmen, Moravian College
　　Richard C. Schiming, Minnesota State University, Mankato

Part I: Introduction
1. Economics: The Science of Everyday Life
　EXAMPLE Registering for Class on the First Day
　of the Semester
2. Efficiency and Allocation in the Global
　Economy
　EXAMPLE U.S Spending on Military Build-up and 　Healthcare
3. The American Economy in a Global Setting
　EXAMPLE Ups and Downs of Pittsburgh s Steel 　Industry
4. Introduction to the Demand and Supply ramework
　EXAMPLE Market for Coffee in Burlington, 　
　Vermont
5. Elasticity
　EXAMPLE Lunchtime Market for Fast Food
6. Market Efficiency and Government Intervention
　EXAMPLE Buying a Laptop Computer for College

PART II: The Role of Consumers and Firms
7. Consumer Behavior
　EXAMPLE Spending Money on Pizza or CDs
8. Firm Production and Cost
　EXAMPLE Guitar Production in Nashville, TN

PART III: Market Structure, Pricing, and Public Policy
9. Perfect Competition
　EXAMPLE Pike Place Market and the Seattle 　
　Salmon Business
10. Monopoly
　EXAMPLE Major League Baseball and an Atlanta 　
　Braves game
11. Monopolistic Competition and Product　　
　Differentiation
　EXAMPLE Philly Cheese Steak Industry
12. Oligopoly
　EXAMPLE Video Game Console Industry
13. Antitrust, Regulation, and Deregulation
　EXAMPLE Ticketmaster as a Monopoly

PART IV: Resource Markets, Market Failure and Public Goods
14. Firms and Financial Markets
　EXAMPLE Google s Rise to Prominence
15. Labor Markets
　EXAMPLE MP3 Carrying Case Manufacturer
16. Poverty and the Distribution of Income
　EXAMPLE Oprah Winfrey is Career
17. Market Failure and Public Goods
　EXAMPLE The Chesapeake Bay s Endangered 　
　Natural Resources

Part V: Measuring Macroeconomic Health
18. Unemployment and Employment
　EXAMPLE Unemployed College Grad in the San
　Francisco Job Market
19. Inflation and Prices
　EXAMPLE Hyperinflation in Germany During the
　1920 s
20. GDP and the Business Cycle
　EXAMPLE Buying American: Toyota Matrix or Ford
　Focus

Part VI: The Aggregate Demand, Aggregate Supply, and Fiscal Policy
21. Aggregate Demand/Aggregate Supply: The Basic
　Model
　EXAMPLE Comparison of Macroeconomics Outcomes
　After the Vietnam War and Gulf Wars
22. From Short-Run to Long-Run Equilibrium: The
　Model in Action
　EXAMPLE Comparative Performance of Various 　
　Economies
23. The Role of Aggregate Demand in the Short-
　Run
　EXAMPLE Hollywood s Fascination with the Great
　Depression
24. Fiscal Policy
　EXAMPLE "Blame Game" Over the Health of the
　Economy During Presidential Elections
25. The Federal Budget and the National Debt
　EXAMPLE Spiraling U.S. National Debt

Part VII: Money and Monetary Policy
26. Basics of Money and Banking
　EXAMPLE Private Currency in Ithaca, New York
27. Money Creation and Monetary Policy
　EXAMPLE Federal Reserve Actions to Stabilize 　the U.S. Economy in the Wakeof the 9/11 　　
　Terrorist Attacks
28.Money in the Macroeconomy
　EXAMPLE Federal Reserve Doubles M1 Money Supply

Part VIII: Long-Run Economic Health
29. Long-Run Implications of Macroeconomic Policy
　EXAMPLE Debate Over Active versus Passive 　
　Stabilizatoin Policies in Response to the 2001 　Recession
30. Economic Growth
　EXAMPLE Comparing the U.S. and Mexican 　　
　Economies

Part IX: International Trade and Finance
31. International Trade
　EXAMPLE Anti-globalization Protesters at the 　WTO Meeting in Seattle, WA
32. International Finance
　EXAMPLE The Argentine Financial Crisis