Published: July 2014
Page Count: 542
ISBN (Digital): 978-1-4533-6498-7

Survey of Economics

Version 1.1
By Libby Rittenberg

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Survey of Economics, v. 1.1

Libby Rittenberg

Building on the pedagogy developed in their successful two-semester Principles of Economics textbook, Libby Rittenberg's Survey of Economics, v. 1.1 covers topics that provide students with the tools to understand the economic way of thinking in a shorter amount of time.

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This textbook is suitable for these courses: Intro-level Economics (one-semester)

This textbook is suitable for 2 and 4 year institutions.

PEDAGOGICAL FEATURES:

“START-UP” SECTIONS:

These are followed by sections including a clearly written exposition of a topic, an illustrative "Case in Point," and a sample "Try It" problem (with answer included) so students can determine their level of understanding.

”HEADS UP” FEATURES:

Brief sections help clarify often confusing concepts. Ample end-of chapter concept and numerical problems round out the experience.

1.1 Start Up: Economics in the News

1.2 Defining Economics

1.3 The Field of Economics

1.4 The Economists’ Tool Kit

1.5 Review and Practice

Chapter 2: Confronting Scarcity: Choices in Production

2.1 Start Up: An Attempt to Produce Safer Air Travel

2.2 Factors of Production

2.3 The Production Possibilities Curve

2.4 Applications of the Production Possibilities Model

2.5 Review and Practice

Chapter 3: Demand and Supply

3.1 Start Up: Crazy for Coffee

3.2 Demand

3.3 Supply

3.4 Demand, Supply, and Equilibrium

3.5 Government Intervention in Market Prices: Price Floors and Price Ceilings

3.6 Review and Practice

Chapter 4: Elasticity: A Measure of Response

4.1 Start Up: Raise Fares? Lower Fares? What’s a Public Transit Manager To Do?

4.2 The Price Elasticity of Demand

4.3 Responsiveness of Demand to Other Factors

4.4 Price Elasticity of Supply

4.5 Review and Practice

Chapter 5: Markets, Maximizers, and Efficiency

5.1 Start Up: A Drive in the Country

5.2 The Logic of Maximizing Behavior

5.3 Maximizing in the Marketplace

5.4 Market Failure

5.5 Review and Practice

Chapter 6: Production, Cost, and Market Models

6.1 Start Up: Street Cleaning Around the World

6.2 Production Choices and Costs: The Short Run

6.3 Production Choices and Costs: The Long Run

6.4 An Overview of Models of Market Organization

6.5 Review and Practice

Chapter 7: Competitive Markets for Goods and Services

7.1 Start Up: Life on the Farm

7.2 Perfect Competition: A Model

7.3 Output Determination in the Short Run

7.4 Perfect Competition in the Long Run

7.5 Review and Practice

Chapter 8: Monopoly and Its Regulation

8.1 Start Up: Surrounded by Monopolies

8.2 The Nature of Monopoly

8.3 The Monopoly Model

8.4 Comparing Monopoly to Other Forms of Market Organization

8.5 Antitrust Laws and Their Interpretation

8.6 Review and Practice

Chapter 9: Wages and Employment in Perfect Competition

9.1 Start Up: College Pays

9.2 The Demand for Labor

9.3 The Supply of Labor

9.4 Labor Markets at Work

9.5 Review and Practice

Chapter 10: Inequality, Poverty, and Discrimination

10.1 Start Up: Occupy Wall Street and the World

10.2 Income Inequality

10.3 The Economics of Poverty

10.4 The Economics of Discrimination

10.5 Review and Practice

Chapter 11: Macroeconomics: The Big Picture

11.1 Start Up: Economy Limps Along

11.2 Growth of Real GDP and Business Cycles

11.3 Price-Level Changes

11.4 Unemployment

11.5 Review and Practice

Chapter 12: Measuring Total Output and Income

12.1 Start Up: The Lockup

12.2 Measuring Total Output

12.3 Measuring Total Income

12.4 GDP and Economic Well-Being

12.5 Review and Practice

Chapter 13: Aggregate Demand and Aggregate Supply

13.1 Start Up: The Great Warning

13.2 Aggregate Demand

13.3 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run

13.4 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium

13.5 Review and Practice

Chapter 14: Economic Growth

14.1 Start Up: How Important Is Economic Growth?

14.2 The Significance of Economic Growth

14.3 Growth and the Long-Run Aggregate Supply Curve

14.4 Determinants of Economic Growth

14.5 Review and Practice

Chapter 15: The Nature and Creation of Money

15.1 Start Up: How Many Macks Does It Cost?

15.2 What Is Money?

15.3 The Banking System and Money Creation

15.4 The Federal Reserve System

15.5 Review and Practice

Chapter 16: Financial Markets, the Fed, and Monetary Policy

16.1 Start Up: The Fed’s Extraordinary Challenges in 2008

16.2 The Bond and Foreign Exchange Markets

16.3 Demand, Supply, and Equilibrium in the Money Market

16.4 Monetary Policy in the United States

16.5 Problems and Controversies of Monetary Policy

16.6 Review and Practice

Chapter 17: Government and Fiscal Policy

17.1 Start Up: A Massive Stimulus

17.2 Government and the Economy

17.3 The Use of Fiscal Policy to Stabilize the Economy

17.4 Issues in Fiscal Policy

17.5 Review and Practice

Chapter 18: A Brief History of Macroeconomic Thought and Policy

18.1 Start Up: Three Revolutions in Macroeconomic Thought

18.2 The Great Depression and Keynesian Economics

18.3 Keynesian Economics in the 1960s and 1970s

18.4 Macroeconomics for the 21st Century

18.5 Review and Practice

Appendix A: Appendix A: Graphs in Economics

A.1 How to Construct and Interpret Graphs

A.2 Nonlinear Relationships and Graphs without Numbers

A.3 Using Graphs and Charts to Show Values of Variables

PowerPoint Lecture Notes

A PowerPoint presentation highlighting key learning objectives and the main concepts for each chapter are available for you to use in your classroom. You can either cut and paste sections or use the presentation as a whole.

Solutions Manual

For exercises that need a little more explanation, our Solutions Manual will take you step by step through solving the problem and offer explanations on the answer.

Test Item File

Need assistance in supplementing your quizzes and tests? Our test-item files (in Word format) contain many multiple-choice, fill-in-the-blank, and short-answer questions.

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Libby Rittenberg

Colorado College

Libby Rittenberg (PhD Rutgers University) is Professor Emerita of Economics at Colorado College. She also served as the Dean of Summer Programs as well as the college’s ombudsperson. As a professor, she frequently taught Principles of Economics, Intermediate Macroeconomic Theory, Comparative Economic Systems, and a senior seminar on the International Political Economy. Throughout her academic career, Libby was deeply involved in study abroad education and directed programs in central Europe and Turkey. She was honored to have been a Fulbright Lecturer. Her research has focused on the internationally oriented areas of economics, with numerous articles on comparative and development economics, and a particular emphasis on the Turkish economy.