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For Principles of Economics courses. Questions that drive interest,
applications that illustrate concepts, and the tools to test and
solidify comprehension. Students come into their first Economics
course thinking they will gain a better understanding of the
economy around them. Unfortunately, they often leave with many
unanswered questions. To ensure students actively internalize
economics, O'Sullivan/Sheffrin/Perez use chapter-opening questions
to spark interest on important economic concepts, applications that
vividly illustrate those concepts, and chapter-ending tools that
test and solidify understanding.
O'Sullivan/Sheffrin makes use of Active Learning Tools which get
readers involved in role-playing, help them apply concepts, and
offer reinforcement of the material. The books hallmark feature
includes a focus on the 5 Key Principles of Economics: 1)
Opportunity Cost, 2) The Marginal Principle (comparing marginal
benefits and marginal costs), 3) Diminishing Returns, 4) The
Spillover Principle (for externalities in production and
consumption), and, 5) The Reality Principle (distinguishing real
from nominal magnitudes). For economists, financial analysts and
other finance professionals.
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