Demonstrate that real businesses use economics to make real decisions daily. This is motivating to all students, whether they are business majors or not. All students can relate to businesses they encounter in their everyday lives. Whether they open an art studio, do social work, trade on Wall Street, work for the government, or bartend at the local pub, students will benefit from understanding the economic forces behind their work.
Salient Features * Chapter-Opening Cases about how the economics about to be learned impact a real business (a) set a real context for learning (b) spark students' interest (c) provide a unifying theme for the chapter. Chapter Examples and Figures consistently revisit the business discussed in the opener and use that business (or industry) to motivate the economic principles. * An Inside Look concludes chapters with a newspaper article illustrating how a key principle taught in the chapter was used by the chapter-opening case company to make a real business decision
Table of Contents
I. Introduction * Economics: Foundations and Models * Tradeoffs, Comparative Advantage, and the Market System * Where Prices Come From: The Interaction of Demand