Principles of Microeconomics 5th Edition, by Robert Frank and Ben Bernanke introduces a coherent brief checklist of core ideas and reinforce them by illustrating and applying every in numerous contexts. With engaging questions, explanations and workout routines, the authors assist students relate financial principles to a number of everyday experiences similar to going to the ATM or buying airline tickets.
Lately, innovative texts in arithmetic, science, foreign languages, and other fields have achieved dramatic pedagogical positive factors by abandoning the traditional encyclopedic approach in favor of educating a shorter list of core principles in depth. Two well-revered writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more strategy affords similar positive aspects in introductory economics.
All through this process, the authors encourage college students to turn into “economic naturalists:” people who employ basic financial rules to know and explain what they observe in the world round them. A number of core ideas do most of the work in economics. By specializing in these principles, the text assures that students go away the course with a deep mastery of them.
In contrast, conventional encyclopedic texts so overwhelm college students with detail that they often leave the course with little helpful working data at all. Throughout the book, core rules icons flag areas within the text where a core principle is discussed. All through the text, Economic Naturalist examples pose “economic riddles” within the form of questions to spark the students’ interest in learning the answer.
Modern Microeconomics: Economic surplus, introduced in Chapter 1 and applied repeatedly thereafter, is more fully developed here than in any other text. This concept underlies the argument for economic efficiency as an important social goal. Rather than speak of tradeoffs between efficiency and other goals, the authors stress that maximizing economic surplus facilitates the achievement of all goals.
The authors consistently introduce new ideas in the context of simple examples and then follow them with applications in familiar settings. Frequently, the text poses concept checks to test and reinforce the understanding of these ideas, and end-of-chapter questions and problems are carefully crafted to help students internalize and extend core concepts. Students are prepared to apply the important concepts to solve “economic riddles” drawn from the real world.
Each chapter in the book begins with a list of numbered learning objectives, which appear throughout the chapter as well as in the end-of-chapter assignments. All end of chapter material, test bank material, and assignable content within Connect maps to a specific chapter learning objective in the textbook, as well as topic area, Bloom’s Taxonomy level, and AACSB skill area. The reporting features within Connect allow student results to be aggregated, making the collection and presentation of Assurance of Learning data simple and easy.
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