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In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of teaching a shorter list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. The authors introduce a coherent short list of core principles and reinforce them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles and to answer related questions and exercises. The BRIEF editions were developed for instructors who appreciate core principles approach, and desire a more manageable amount of content and slightly less rigor. In the brief editions, the authors made careful choices of material to eliminate and condense, in order to produce of more concise coverage.
List of contents
PART 1 Introduction
1 Thinking Like an Economist
2 Comparative Advantage
3 Supply and Demand
PART 2 Competition and the Invisible Hand
4 Demand and Elasticity
5 Perfectly Competitive Supply
6 Efficiency, Exchange, and the Invisible Hand in Action
PART 3 Market Imperfections
7 Monopoly, Oligopoly, and Monopolistic Competition
8 Games and Strategic Behavior
9 Externalities and Property Rights
PART 4 Economics of Public Policy
10 Using Economics to Make Better Policy Decisions
PART 5 Macroeconomics: Data and Issues
11 Spending, Income, and GDP 12 Inflation and the Price Level
13 Wages and Unemployment
PART 6 The Economy in the Long Run
14 Economic Growth
15 Saving, Capital Formation, and Financial Markets
16 Money, Prices, and the Financial System
PART 7 The Economy in the Short Run
17 Short-Term Economic Fluctuations
18 Spending, Output, and Fiscal Policy
19 Monetary Policy and the Federal Reserve
20 Aggregate Demand, Aggregate Supply, and Stabilization Policy
PART 8 The International Economy
21 Exchange Rates, International Trade, and Capital Flows
