Foundations of Economics is structured to encourage learning by doing. Its Checklist/Checkpoint system provides a practice-oriented framework, consisting of the following elements:
Checklists at the beginning of each chapter preview the 3—5 key ideas students need to know. Each chapter is broken into discrete sections devoted to one of these ideas.
Checkpoints at the end of each section present a practice problem with a guided solution and a parallel exercise for the student to try.
Chapter Checkpoints at the conclusion of each chapter include a summary of key points and key terms, and additional practice opportunities such as problems, news analysis questions, critical thinking questions, and online exercises.
End-of-chapter features prompt students to apply what they’re learning.
News-based end-of-chapter questions provide news summaries and prompt students to apply economics to issues in the news.
Web exercises prompt students to seek out real data on the web and use it to answer questions.
Table of Contents
I. Introduction 1. Getting Started 2. The U.S. and Global Economies 3. The Economic Problem 4. Demand and Supply
II. A Closer Look at Markets 5. Elasticities of Demand and Supply 6. Efficiency and Fairness of Markets
III. How Governments Influence the Economy 7. Government Actions in Markets 8. Taxes 9. Global Markets in Action
IV. Market Failure and Public Policy 10. Externalities 11. Public Goods and Common Resources 12. Markets with Private Information
V. A Closer Look at Decision Makers 13. Consumer Choice and Demand 14 Production and Cost
VI. Prices, Profits, and Industry Performance 15 Perfect Competition 16 Monopoly 17 Monopolistic Competition 18 Oligopoly
VII. Incomes and Inequality 19 Markets for Factors of Production 20 Economic Inequality
VIII. Monitoring the Macroeconomy 21. GDP: A Measure of Total Production and Income 22. Jobs and Unemployment 23. The CPI and the Cost of Living