McConnell, Brue and Flynn's Economics: Brief Edition, 2e comes from the same author team as the market-leading Principles of Economics textbook. Economics: Brief Edition tailors the core concepts from proven leader Economics, 19th edition to create a concise introduction to the course that is distinct in purpose, style, and coverage. Like the 19th edition, Economics: Brief Edition, 2e continues to be innovative while teaching students in a clear, unbiased way. Content and pedagogy have 3 main goals: help the beginning student master the principles essential for understanding the economizing problem, specific economic issues, and the policy alternatives; help the student understand and apply the economic perspective and reason accurately and objectively about economic matters; and promote a lasting student interest in economics and the economy
Part One: Introduction
Chapter 1 Limits, Alternatives, and Choices
Chapter 2 The Market System and the Circular Flow
Part Two: Price, Quantity, and Efficiency
Chapter 3 Demand, Supply, and Market Equilibrium
Appendix 3W: Additional Examples of Supply and Demand
Chapter 4 Elasticity of Demand and Supply
Chapter 5 Market Failures: Public Goods and Externalities
Part Three: Product Markets
Chapter 6 Businesses and Their Costs
Chapter 7 Pure Competition
Chapter 8 Pure Monopoly
Chapter 9 Monopolistic Competition and Oligopoly
Part Four: Resource Markets and Government
Chapter 10 Wage Determination
Chapter 11 Income Inequality and Poverty
Chapter 12 Public Finance: Expenditures and Taxes
Part Five: GDP, Growth, and Instability
Chapter 13 GDP and Economic Growth
Chapter 14 Business Cycles, Unemployment, and Inflation
Chapter 15 Aggregate Demand and Aggregate Supply
Chapter 16 Fiscal Policy, Deficits, and Debt
Part Six: Money, Banking, and Monetary Policy
Chapter 17 Money, Banking, and Financial Institutions
Chapter 18 Interest Rates and Monetary Policy
Part Seven: Long-Run Considerations and International Economics
Chapter 19 Long-Run Aggregate Supply and Aggregate Demand
Chapter 20 International Trade and Exchange Rates
New to this Edition
- Distinctly Concise. Distinctly Digital. The Brief Edition has been designed with the student in mind. Market-leading content, pedagogy, and supple?mentary tools meets digital leadership bringing high-quality economic content to life in a way that improves the learning experience for both students and instructors.
- New Public Finance Chapter. (Chapter 12) This traditional public finance chapter adds considerable new content to existing material that previously appeared in Chapter 5. It includes a circular flow diagram with government; an overview of Federal, state, and local tax revenues and expenditures; explanations of marginal and average tax rates; discussions of the benefits-received and ability-to-pay principles of taxation; an explanation of progressive, regressive, and proportional taxes; tax incidence and efficiency losses due to taxation; and the redistributive incidence of the overall tax-spending system in the United States.
- New and updated "Illustrating the Idea,? "Applying the Analysis,? and "Photo Op? Pieces. These examples, applications, and illustrations help drive home central economic ideas in a student-oriented, real-world manner. New content includes a discussion of beekeepers to explain the Coase Theorem, analysis of the effects of rising gas prices on companies like FedEx and Symantec, and an illustration of Federal versus state and local spending.
- New Discussions of the Financial Crisis and the Recession. Incorporates an analysis of the financial crisis, the recession, and the hesitant recovery into our discussions of macroeconomics. Although the recession is included in many way in the macro chapters, the basic macroeconomic models will serve equally well in explaining economic recovery and expansion back to the economy's historical growth path. The overall tone of the book, including the macro, continues to be optimistic with respect to the long-term growth prospects of market economies.
- Reworked End-of-Chapter Questions and Problems. Extensively reworked end-of-chapter Questions and new Problems have been added to each chapter. Questions and Problems are all aligned with the learning objectives presented at the beginning of the chapters and are assignable through McGraw-Hill's Connect Economics.
- Study Econ Mobile App. Students can study economics anywhere with McGraw-Hill's new Study Econ mobile study app. The Study Econ mobile app includes book-specific study tools to help students review and master important economic concepts on the go. The app is available in both Apple and Android app markets.
The Study Econ mobile app has been developed for the Microeconomics and Macroeconomics split titles only. Upon downloading the app, students will receive the first three chapters of content for free! After the trial, students will have the option to purchase the rest of the content within the app. Features of the Study Econ mobile app include:
- Flashcards of every key term and definition from the textbook, customizable by chapter.
- Basic math review for those pesky formulas we sometimes forget.
- Customizable self-quizzes that allow for more practice and feedback.
- Common mistakes and pitfalls are included to help master key concepts.
- Various games which help make learning key terms and concepts more engaging and fun!
- Distinct: Although the Brief Edition is a derivative of Economics 19e, is not a cut-and-paste book that simply eliminates several chapters and reorders and renumbers the retained content. Instead, Economics: Brief Edition is a very concise, highly integrated economics textbook that is distinct in purpose, style, and coverage.
- A Patient, Step-by-Step Approach: Realizing that for most students, this is their first introduction to economics, the authors take a patient, step-by step approach to teaching the material. The authors explain the theory and models slowly and thoroughly. This approach is easier to follow than that of many other texts on the market, which make assumptions and jump through material quickly, leaving students behind.
- Balanced Coverage: McConnell and Brue have been the number-one selling authors over the years because of their thorough and neutral coverage of the material?they present both sides and let instructors and students make up their own minds.
- Focus on Core Models and Concepts: Economics: Brief Edition shortens and simplifies explanations where appropriate but stresses the importance of the economic perspective, including explaining and applying core economic models. The authors? strategy is to develop a limited set of essential models, illustrate them with analogies or anecdotes, explain them thoroughly, and apply them to real-world situations.
- ?Illustrating the Idea? features: "Illustrating the Idea? features use analogies to illustrate theory discussed in the book. For instance, elastic versus inelastic demand is illustrated by comparing the stretch of an Ace bandage and that of a tight rubber tie-down. A piece on Bill Gates, Oprah Winfrey, and Alex Rodriquez illustrates the importance of opportunity costs in decision-making. In the principles course where there is limited time to linger over topics, such discussions help students learn more quickly and breathe some life into what can otherwise be rather tedious discussions.
- Interesting, Memorable Applications: "Applying the Analysis? sections walk students through economic theories and ideas and help cement comprehension. For example, the basics of the economic perspective are applied to why customers tend to try to wait in the shortest checkout lines. Photo sets under the title "Photo Op? are included throughout the book to add visual interest, break up the density, and highlight important distinctions. These photo sets photo sets illustrate normal versus inferior goods, complements versus substitutes in consumption, homogeneous versus differentiated products, substitute resources versus complementary resources, and more.
- Assessment-Ready Learning Objectives and Testing: Each chapter begins with measurable learning objectives. These learning objectives are cross-referenced to specific test bank questions to allow construction of measurement instruments. This direct link between objectives and content facilitates now common accreditation efforts necessary to meet assurance of learning requirements.
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