Principles of Eonomics :Economics and the Economy
pdated August, 2008, Version 2.0 by Timothy Taylor (Managing Editor,The Journal of Economic Perspectives; Macalester College).

An introductory economics textbook for the first decade of the 21st century needs to create strong connections between the basic concepts of the course and the economic subjects of high interest to students. Tim Taylor’s series of economics textbooks (Principles, Micro and Macro) written for The Freeload Press do just that. The fundamental tools and terms of introductory economics are covered with a combination of careful step-by-step explanations and lively examples, drawing on the author’s experience as an award-winning teacher. The examples and structure throughout these books also draw out some issues on the radar screens of many students. For example, Taylor integrates international examples and analysis throughout these texts, rather than following the outdated tradition of segregating this material in the last chapter or two of the book. Taylor presents a number of real-world examples, in business, and public policy. He also spotlights basic economic terms in the news like growth, inflation, unemployment, budget deficits, the balance of trade, and the Federal Reserve. Taylor’s books provide the solid grounding in economic analysis that will introduce students to the subject and prepare some of them for future courses in economics, while also providing the core economic literacy that students want and need.

Brief Contents:
PART I: THE INTERCONNECTED ECONOMY
1.The Interconnected Economy1
2.Choice in a World of Scarcity15
3.International Trade41
PART II: SUPPLY AND DEMAND
4.Demand and Supply61
5.Labor and Financial Capital Markets89
6.Globalization and Protectionism105
PART III:THE FUNDAMENTALS OF MICROECONOMIC THEORY
7.Elasticity 129
8.Household Decision Making151
9.Cost and Industry Structure173
10. Perfect Competition191
11. Monopoly 213
12. Monopolistic Competition and Oligopoly229
PART IV: MICROECONOMIC POLICY ISSUES APPLICATIONS
13. Competition and Public Policy245
14. Environmental Protection and Negative Externalities 263
15. Technology, Positive Externalities, and Public Goods 281
16. Poverty and Economic Inequality297
17. Issues in Labor Markets317
18. Information, Risk, and Insurance337
19. Financial Markets353
20. Public Choice375
PART V: THE MACROECONOMIC PERSPECTIVE AND GOALS
21. The Macroeconomic Perspective387
22. Economic Growth405
23. Unemployment 423
24. Inflation 443
25. The Balance of Trade467
PART VI:A FRAMEWORK FOR MACROECONOMIC ANALYSIS
26. The Aggregate Supply-Aggregate Demand Model 485
27. The Keynesian Perspective507
28. The Neoclassical Perspective537
PART VII: MONETARY AND FISCAL POLICY
29. Money and Banks551
30. Monetary Policy and Bank Regulation567
31. Exchange Rates and International Capital Flows 591
32. Government Budgets and Fiscal Policy621
33. Government Borrowing and National Savings 645
34. Macroeconomic Policy around the World 663
Appendices 681
Glossary 721
Index 735