Teach your students how to think like economists. The Economic Way of Thinking goes beyond explaining the basic principles of micro- and macroeconomic analysis by showing students a method of reasoning that teaches them how to apply these principles as tools. The authors expose students to a method of reasoning that makes them think like an economist through example and application and also shows them how not to think, by exposing errors in popular economic reasoning. The latest edition has been thoroughly updated with current material.
1. The Economic Way of Thinking
2. Efficiency, Exchange, and Comparative Advantage
3. Substitutes Everywhere: The Concept of Demand
4. Cost and Choice: The Concept of Supply
5. Supply and Demand: A Process of Coordination
6. Unintended Consequences: More Applications of Supply and Demand
7. Profit and Loss
8. Price Searching
9. Competition and Government Policy
10. Externalities and Conflicting Rights
...etc...