Economics, Fourth Edition

This text covers the basics of macro and microeconomics.

Reorganized Chapters 2-5: Colander has reorganized the material in Chapters 2 through 5 to make the book easier to use and to allow instructors more choice in presentation. Chapter 2 centers around the production possibility curve, comparative advantage, and trade. Chapter 3 covers economic systems, institutions, and the U.S. economy; the discussion of the role of government was moved from Chapter 5 to this chapter. Chapter 4 includes complete coverage of supply/demand so professors teaching macro can skip Chapter 5, which covers applications.
Antitrust Chapter Moved Forward: In the micro section, the anti-trust chapter (formerly Chapter 17, now 15) has been moved closer to the market structure section to take advantage of students' interest in the recent developments of the Microsoft case.
Upward-Sloping AS Curve and New Material on Fiscal Policy: In the macro section, Colander has adopted an upward-sloping AS curve and added fiscal policy discussions to the two model chapters (Chapters 25 and 26). These changes provide more standard coverage and add real examples to help students understand the models.
International Chapters Added to Macro split: The international trade and development chapters are now in the macro split as well as the micro splits. Because of the increasing importance of international topics and the increasingly global dimension of our own economy, students will benefit from this added coverage.
Student-Friendly Writing Style: Written in conversational English, not 'textbookese', the author conveys economic sensibility to the reader with passion and humor. Students feel as though David Colander is speaking to them directly as a personal tutor. Students truly enjoy reading this textbook, as student feedback on the 5e book website will attest.
Unbiased Coverage: While the author presents all the standard economic models, they are presented neither as gospel nor in isolation. After the models (tools) are presented, the author discusses how economists actually use these models in policy. He also points out those interpretative problems economists face. Economists are presented as fallible human beings making judgments and analyzing situations using a certain way of thinking. Colander describes that 'economic' way of thinking and discusses both its strengths and weaknesses.
Historical Perspective: The author's historical perspective and his attempt to open doors to multiple interpretations will be especially interesting to liberal arts students. The book gives these students a real sense of economics and economic thinking.
Tools Boxes: "Applying the Tools," "Knowing the Tools," and "Beyond the Tools" are included in most chapters to reinforce the basic tools presented in the text and help students learn the basics.
Tools not Rules: Colander covers standard economic concepts but does not present them as inflexible rules. Rather, he treats them as tools for making real world judgments and analyses. Once students understand these tools, they consider their real world applications, along with their strengths and weaknesses.
Webnotes: Throughout the book, web icons appear in the margin with a label which ties the textbook to the web through links on the book website.
PowerWeb. This online reservoir of discipline-specific news articles and essays offer a great way to keep your course current, while complementing textbook concepts with real-world applications. Articles and essays from leading periodicals and niche publications in specific disciplines are reviewed by professors like you to ensure fruitful search results every time.BusinessWeek Edition. Your students can subscribe to 15 weeks of Business Week for a specially priced rate of $8.25 in addition to the price of the text. Students will receive a pass code card shrink-wrapped with their new text. The card directs students to a Website where they enter the code and then gain access to BusinessWeek's registration page to enter address info and set up their print and online subscription as well. Passcode ISBN 007-251530-9.
Wall Street Journal Edition. Your students can subscribe to the Wall Street Journal for 15 weeks at a specially priced rate of $20.00 in addition to the price of the text. Students will receive a "How To Use the WSJ" handbook plus a pass code card shrink-wrapped with the text. The card directs students to a Website where they enter the code and then gain access to the WSJ registration page to enter address info and set up their print and online subscription, and also set up their subscription to Dow Jones Interactive online for the span of the 15-week period. Passcode ISBN 007-251950-9.
GradeSummit(TM) is a dynamic self-assessment and exam preparation service for students and instructors. Detailed diagnostic analysis of strengths and weaknesses enables efficient and effective study for students and effortless information for instructors.DiscoverEcon Software: Available either on CD or via the Web: the software is available either in a standard CD format or via the Web by using a unique student passcode.

Every chapter of the software includes the following features:
-Multiple choice test questions: The user chooses the number of questions in the test; the software selects randomly from the question bank for the chapter.

-Two Web questions: Students working online can access web addresses directly through their browsers. Students without web access can simply ignore these questions.

-Match the terms: this exercise challenges the student to match randomly selected key glossary terms with their appropriate glossary explanation.

-Essay questions

-New e-Submission: instructors may now set up their courses for e-submission so that all exercise results for each student can be viewed and downloaded to other Windows applications. (Web-based version only).

-Easy Syllabus Linking: for those instructors using a course management system, specific `pages' in DiscoverEcon can be linked to specific parts of the course website. This makes student navigation and therefore self-assessment easier than ever for both student and instructor.

-Introductory economics is about graphs and the Discover Econ software gives students the opportunity to experiment with the graphs seen in the classroom and the textbook. The software includes: a. Movies - graphs that are drawn step-by-step with explanatory text appearing as the graph is constructed b. Interactive graphs - students change a parameter and see how the graph changes c. Interactive exercises - students interpret a graph based on concepts presented in the text and in the software.