Published: April 2009
Page Count: 376
ISBN (Digital): 978-1-4533-2816-3

Principles of Economics

Custom Version 1.0.1
By Libby Rittenberg and Timothy Tregarthen

Included Supplements

Manual

Slides

Tests

Key Features

Teaching Principles of Economics? Adopt this college textbook as is or personalize it online at Flat World. Change chapter titles, move content with ease, and delight in how much less your students pay. We publish peer-reviewed textbooks by expert authors. You make them perfect for your course.

Interested in an online assessment tool for Principles of Economics? We have that...and it is called FLYX! Watch here this demonstration for more information on FLYX Online Learning and Assessment.

Listen to a podcast here of Libby discussing Principles of Economics to gain perspective on her and Tim's text.

Flat World Knowledge is thrilled to publish a first edition re-launch of Tim Tregarthen’s acclaimed Principles of Economics textbook, and proud to bring Tim's remarkable talents as a teacher to future generations of students.

In 1996, Tim published the first edition of his principles of economics textbook to great acclaim, and it became widely used in colleges around the country. That same year, MS made him wheelchair-bound. The disease forced his retirement from teaching at the University of Colorado at Colorado Springs in 1998. He lost the use of his arms in 2001 and has been quadriplegic ever since.

Tim never let his disease get him down. In fact, he turned back to his love of writing and teaching for inspiration. He obtained a voice-activated computer, recruited a co-author, Libby Rittenberg of Colorado College, and turned his attention to revising his principles of economics book.

Today we are excited to introduce Libby Rittenberg and Timothy Tregarthen’s Principles of Economics. The authors teach economics as the study of ”choice ” by providing students with an accessible, straightforward overview of economics. This text combines the clarity and writing of Tregarthen's seminal periodical "The Margin" with great teaching insights.

Rittenberg and Tregarthen help students to understand how real individuals actually work with economics. In this new book, the authors illustrate the practicality and relevance of economics with a variety of new illustrations and insights.

The authors take a three-pronged approach to every concept: (1) the concept is covered with a ”Heads Up“ to ward off confusion, (2) a ”You Try It“ section makes sure students are staying on top of the concept and (3) a ”Case and Point“ section that uses a real-world application to harness the concept in reality. For one example of how this plays out in the text see "Chapter 3, Section 2 on Supply." here

This book is intended for a two-semester course in economics taught out of the social sciences or business school.

1.1 Start Up: Economics in the News

1.2 Defining Economics

1.3 The Field of Economics

1.4 The Economists’ Tool Kit

1.5 Review and Practice

Chapter 2: Confronting Scarcity: Choices in Production

2.1 Start Up: Tightening Security at the World’s Airports

2.2 Factors of Production

2.3 The Production Possibilities Curve

2.4 Applications of the Production Possibilities Model

2.5 Review and Practice

Chapter 3: Demand and Supply

3.1 Start Up: Crazy for Coffee

3.2 Demand

3.3 Supply

3.4 Demand, Supply, and Equilibrium

3.5 Review and Practice

Chapter 4: Applications of Demand and Supply

4.1 Start Up: A Composer Logs On

4.2 Putting Demand and Supply to Work

4.3 Government Intervention in Market Prices: Price Floors and Price Ceilings

4.4 The Market for Health-Care Services

4.5 Review and Practice

Chapter 5: Markets, Maximizers, and Efficiency

5.1 Start Up: A Drive in the Country

5.2 The Logic of Maximizing Behavior

5.3 Maximizing in the Marketplace

5.4 Market Failure

5.5 Review And Practice

Chapter 6: Macroeconomics: The Big Picture

6.1 Start Up: Financial Crisis Batters Economy

6.2 Growth of Real GDP and Business Cycles

6.3 Price-Level Changes

6.4 Unemployment

6.5 Review and Practice

Chapter 7: Measuring Total Output and Income

7.1 Start Up: The Lockup

7.2 Measuring Total Output

7.3 Measuring Total Income

7.4 GDP and Economic Well-Being

7.5 Review and Practice

Chapter 8: Aggregate Demand and Aggregate Supply

8.1 Start Up: The Great Warning

8.2 Aggregate Demand

8.3 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run

8.4 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium

8.5 Review and Practice

Chapter 9: The Nature and Creation of Money

9.1 Start Up: How Many Macks Does It Cost?

9.2 What Is Money?

9.3 The Banking System and Money Creation

9.4 The Federal Reserve System

9.5 Review and Practice

Chapter 10: Financial Markets and the Economy

10.1 Start Up: Clamping Down on Money Growth

10.2 The Bond and Foreign Exchange Markets

10.3 Demand, Supply, and Equilibrium in the Money Market

10.4 Review and Practice

Chapter 11: Monetary Policy and the Fed

11.1 Start Up: The Fed’s Extraordinary Challenges in 2008

11.2 Monetary Policy in the United States

11.3 Problems and Controversies of Monetary Policy

11.4 Monetary Policy and the Equation of Exchange

11.5 Review and Practice

Chapter 12: Government and Fiscal Policy

12.1 Start Up: A Massive Stimulus

12.2 Government and the Economy

12.3 The Use of Fiscal Policy to Stabilize the Economy

12.4 Issues in Fiscal Policy

12.5 Review and Practice

Chapter 13: A Brief History of Macroeconomic Thought and Policy

13.1 Start Up: Three Revolutions in Macroeconomic Thought

13.2 The Great Depression and Keynesian Economics

13.3 Keynesian Economics in the 1960s and 1970s

13.4 An Emerging Consensus: Macroeconomics for the Twenty-First Century

13.5 Review and Practice

Appendix A: Appendix A: Graphs in Economics

A.1 How to Construct and Interpret Graphs

A.2 Nonlinear Relationships and Graphs without Numbers

A.3 Using Graphs and Charts to Show Values of Variables

Instructor’s Manual

The Instructor’s Manual guides you through the main concepts of each chapter and important elements such as learning objectives, key terms, and key takeaways. Can include answers to chapter exercises, group activity suggestions, and discussion questions.

PowerPoint Lecture Notes

A PowerPoint presentation highlighting key learning objectives and the main concepts for each chapter are available for you to use in your classroom. You can either cut and paste sections or use the presentation as a whole.

Test Generator

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Test Bank Files for Import to Learning Management Systems

For your convenience, we've packaged our test items for easy import into Learning Management Systems like Blackboard, Brightspace/D2L, Canvas, Moodle, or Respondus.

Solutions Manual

For exercises that need a little more explanation, our Solutions Manual will take you step by step through solving the problem and offer explanations on the answer.

Test Item File

Need assistance in supplementing your quizzes and tests? Our test-item files (in Word format) contain many multiple-choice, fill-in-the-blank, and short-answer questions.

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Libby Rittenberg

Colorado College

Libby Rittenberg (PhD Rutgers University) is Professor Emerita of Economics at Colorado College. She also served as the Dean of Summer Programs as well as the college’s ombudsperson. As a professor, she frequently taught Principles of Economics, Intermediate Macroeconomic Theory, Comparative Economic Systems, and a senior seminar on the International Political Economy. Throughout her academic career, Libby was deeply involved in study abroad education and directed programs in central Europe and Turkey. She was honored to have been a Fulbright Lecturer. Her research has focused on the internationally oriented areas of economics, with numerous articles on comparative and development economics, and a particular emphasis on the Turkish economy.

Timothy Tregarthen

University of Colorado Colorado Springs

Timothy Tregarthen (PhD University of California, Davis) is Professor Emeritus of Economics at the University of Colorado-Colorado Springs. There is one word that captures the essence of Tim Tregarthen—inspiring. Tim was first diagnosed with multiple sclerosis in 1975, yet, he continued a remarkable academic career of teaching and research which includes an autobiography recounting his experiences with multiple sclerosis titled Suffering, Faith, and Wildflowers. Tim was formerly on faculty at University of Colorado-Colorado Springs.