Foundations of Macroeconomics 6th Edition, by Robin Bade and Michael Parkin offers basic understanding of how market economies perform, an appreciation for the issues they do well, and a sense of things they do poorly. Readers begin to learn the art and science of economic considering and begin to take a look at some policy and even personal selections in a different way.
Simplified chapter openers grab student attention and provide instant focus for the chapter. Each chapter opens with a question about a central issue that the chapter addresses and is illustrated with a carefully selected photograph. An Eye On box addresses and discusses the chapter-opener and an end-of-chapter problem.
The second page contains problems and applications for instructors to assign as a homework, quiz, or test. Many of these problems and applications are new to the sixth edition and include mini-case studies from recent news stories. The third page contains a short multiple-choice quiz. This quiz, also available in MyEconLab for student practice, hits the high points of the chapter and enables students to test themselves on the types of questions they are likely to encounter on tests and exams.
The Checkpoints at the end of each major section of a chapter have been reorganized to separate practice with basic analysis and “In the News” applications. Worked solutions are provided for both types of questions. Chapter 1 has been reworked in order to strengthen the explanation and illustration of the economic way of thinking by placing the student center stage and focusing on the decision to remain in school or get a full-time job.
The goal is to engage students from the outset of the course, grabbing their attention and showing them the relevance of economics and its place in everyday life. The explanation of the scientific method in economics has also been revised and improved.
Chapter 3 has a more gradual and fully illustrated explanation of the mutual gains from trade arising from comparative advantage and a new Eye On box on the power of specialization and trade through the classic story of the production of the pencil. The result is a patient, confidence-building textbook that prepares readers to use economics in their everyday life, regardless of what their future career will be.
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