Principles of Macroeconomics for AP® Courses covers the scope and sequence for a one-semester Advance Placement Macroeconomics course. The book is on the example textbook list for the AP® course here. The text also includes many current examples, including the housing bubble and housing crisis, Zimbabwe’s hyperinflation, global unemployment, and the appointment of the United States’ first female Federal Reserve chair, Janet Yellen.

Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board’s AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts.

The second edition was developed with significant feedback from current users. In nearly all chapters, it follows the same basic structure of the first edition. General descriptions of the edits are provided in the preface, and a chapter-by-chapter transition guide is available for instructors.

Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board’s AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts.

The second edition was developed with significant feedback from current users. In nearly all chapters, it follows the same basic structure of the first edition. General descriptions of the edits are provided in the preface, and a chapter-by-chapter transition guide is available for instructors.

Table of Contents
Chapter 1 Welcome to Economics!
Chapter 2 Choice in a World of Scarcity
Chapter 3 Demand and Supply
Chapter 4 Labor and Financial Markets
Chapter 5 The Macroeconomic Perspective
Chapter 6 Economic Growth
Chapter 7 Unemployment
Chapter 8 Inflation
Chapter 9 The International Trade and Capital Flows
Chapter 10 The Aggregate Demand/Aggregate Supply Model
Chapter 11 The Keynesian Perspective
Chapter 12 The Neoclassical Perspective
Chapter 13 Money and Banking
Chapter 14 Monetary Policy and Bank Regulation
Chapter 15 Exchange Rates and International Capital Flows
Chapter 17 The Impacts of Government Borrowing
Chapter 18 Macroeconomic Policy Around the World

This book is an adaptation of Principles of Microeconomics originally published by OpenStax. This adapted version has been reorganized into eight topics and expanded to include over 200 multiple choice questions, examples, eight case studies including questions and solutions, and over 200 editable figures.

Topic 1: Introductory Concepts and Models
Introduction to Microeconomics
1.1 What Is Economics, and Why Is It Important?
1.2 Opportunity Costs & Sunk Costs
1.3 Marginal Analysis
Case Study - Beer or Cancer?
Solutions: Case Study - Beer or Cancer?
Topic 1 Multiple Choice Questions
Topic 1 Solutions
Topic 1 References
Topic 2: Specialization and Trade
Introduction to Specialization & Trade
2.1 Economic Efficiency
2.2 Production Possibility Frontier
2.3 Trade
Case Study - Brexit
Solutions: Case Study - Brexit
Topic 2 Multiple Choice Questions
Topic 2 Solutions
Topic 2 References
Topic 3: Supply, Demand, and Equilibrium
Introduction to Supply and Demand
3.1 The Competitive Market Model
3.2 Building Demand and Consumer Surplus
3.3 Other Determinants of Demand
3.4 Building Supply and Producer Surplus
3.5 Other Determinants of Supply
3.6 Equilibrium and Market Surplus
Case Study - The Housing Market
Solutions: Case Study - The Housing Market
Topic 3 Multiple Choice Questions
Topic 3 Solutions
Topic 3 References
Topic 4 Part 1: Elasticity
4.1 Calculating Elasticity
4.2 Elasticity and Revenue
4.3 Relative Elasticity
Topic 4 Part 2: Applications of Supply and Demand
4.4 Introduction to Government Policy
4.5 Price Controls
4.6 Quantity Controls
4.7 Taxes and Subsidies
4.8 Elasticity and Policy
4.9 Tariffs
Case Study - Automation in Fast Food
Solutions: Case Study - Automation in Fast Food
Topic 4 Multiple Choice Questions
Topic 4 Solutions
Topic 4 References
Topic 5: Externalities
Introduction to Environmental Protection and Negative Externalities
5.1 Externalities
5.2 Indirectly Correcting Externalities
5.3 Directly Targeting Pollution
Case Study - Sulpher Dioxide
Solutions: Case Study - Sulpher Dioxide
Topic 5 Solutions
Topic 5 References
Topic 6: Consumer Theory
Introduction to Consumer Choices
6.1 The Budget Line
6.2 The Indifference Curve
6.3 Understanding Consumer Theory
6.4 Building Demand
Case Study - The Liberal Gas Tax
Solutions: Case Study - The Liberal Gas Tax
Topic 6 Solutions
Topic 6 References
Topic 7: Producer Theory
Introduction to Cost and Industry Structure
7.1 Building Producer Theory
7.2 Understanding Producer Theory
7.3 Producer Theory in the Long Run
7.4 The Structure of Costs in the Long Run
Case Study - Oil Markets
Solution: Case Study - Oil Markets
Topic 7 Solutions
Topic 7 References
Topic 8: Imperfect Competition
Introduction to Imperfect Competition
8.1 Monopoly
8.2 Fixing Monopoly
8.3 Why Monopolies Persist
8.4 Monopolistic Competition
Case Study - Diamond's Demise
Solutions: Diamond's Demise
Topic 8 Solutions
Topic 8 References
Appendix C: Versioning History

Principles of Microeconomics is an adaptation of the textbook, Microeconomics: Markets, Methods, and Models by D. Curtis and I. Irvine, which provides concise yet complete coverage of introductory microeconomic theory, application and policy in a Canadian and global environment.

Principles of Microeconomics covers the scope and sequence of most introductory microeconomics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts.

COURSE-LEVEL STUDENT LEARNING OUTCOMES (SLOS)
Apply economic decision making tools to everyday work and play decisions.

Analyze interactions between households, firms, government, and countries.

Describe how equilibrium in the market model determines prices and quantities of goods traded.

Use economic tools to measure welfare of market participants.

Evaluate distribution and welfare effects of government intervention.

Evaluate sources, welfare effects, and solutions of market failure.

Use appropriate elasticities to measure variable interaction.

Analyze firm behavior related to production, cost, and economic profit.

Compare and contrast expected outcomes under different market structures.

MODULES
Module 1 - Economic Decision Making

Module 2 - Interactions in the Economy

Module 3 - The Market Model

Module 4 - Measuring Market Welfare

Module 5 - Evaluating Government Intervention

Module 6 - Analyzing Market Failure

Module 7 - Elasticities

Module 8 - Firm Production and Cost

Module 9 - Market Structure

The purpose of this course is to provide the student with a basic understanding of the principles of microeconomics. At its core, the study of economics deals with the choices and decisions that have to be made in order to manage scarce resources available to us. Microeconomics is the branch of economics that pertains to decisions made at the individual level, i.e. by individual consumers or individual firms, after evaluating resources, costs, and tradeoffs. "The economy" refers to the marketplace or system in which these choices interact with one another. In this course, the student will learn how and why these decisions are made and how they affect one another in the economy. Upon successful completion of this course, students will be able to: Think intuitively about economic problems; Identify how individual economic agents make rational choices given scarce resources and will know how to optimize the use of resources at hand; Understand some simplistic economic models related to Production, Trade, and the Circular Flow of Resources; Analyze and apply the mechanics of Demand and Supply for Individuals, Firms, and the Market; Apply the concept of Marginal Analysis in order to make optimal choices and identify whether the choices are 'efficient' or 'equitable'; Apply the concept of Elasticity as a measure of responsiveness to various variables; Identify the characteristic differences amongst various market structures, namely, Perfectly Competitive Markets, Non-Competitive Markets, and Imperfectly Competitive Markets and understand the differences in their operation; Analyze how the Demand and Supply technique works for the Resource Markets. (Economics 101; See also: Business Administration 200)

Principles of Microeconomics covers the scope and sequence of most introductory microeconomics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts.

Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. This course introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Students will also be introduced to the use of microeconomic applications to address problems in current economic policy throughout the semester.

Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way.

Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way.

With this free video resource, students will be exposed to the economic way of thinking. Students will understand how to use economics in their lives and, ultimately, you’ll see the world differently-- all through engaging Hollywood production style videos.

Educators can use MRU's videos in a variety of ways, to include “flipping” the classroom, as study aids, supplementary material, concept reinforcement, or even as a full course offering.

In MRU's Principles of Microeconomics course, covers fundamental concepts like supply and demand and equilibrium. We also answer questions such as: How are prices determined? What did Adam Smith mean when he said the market process works like an “invisible hand”? How is it that we have access to fresh roses in very cold cities every Valentine’s Day? All key topics are covered to include competition, monopoly, price discrimination, externalities, public goods and more.

There are no prerequisites for this course, and it is accessible to beginners.

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What is Marginal Revolution University (MRU)?

Many of us can remember our first great economics teacher who fundamentally changed how we see the world. At MRU, we try and deliver that experience to millions worldwide through video.

Founded as a nonprofit in 2012 by George Mason University economics professors Tyler Cowen and Alex Tabarrok, MRU is building the world’s largest online library of free economics education videos -- currently weighing in at more than 800 videos.

Principles of Microeconomics for AP Courses covers the scope and sequence for a one-semester Advance Placement Microeconomics course. The book is on the example textbook list for the AP course here. The text also includes many current examples, including; the Keystone Pipeline, Occupy Wall Street, and debates over the minimum wage.

This textbook is unique among economics textbooks. It contains many of the same topics as mainstream textbooks, but it includes and takes very seriously heterodox critiques and alternatives to the mainstream approach to economics. It includes a whole range of alternative theories, including Post-Keynesian, Austrian, Marxian, radical, feminist, institutionalist, and other approaches. The purpose is to teach students about alternative schools of economic thought but also to deepen their understanding of the dominant, neoclassical approach to economics. In this sense, it draws a great deal of inspiration from Richard Wolff and Stephen Resnick’s Contending Economic Theories. Following Wolff and Resnick, an even broader objective is to teach students that economics is a discourse and that no single voice can rightfully claim to have a monopoly on the truth about economics.

Table of Contents
I. Part One: An Introduction to Economic Theory
II. Part Two: Principles of Microeconomic Theory
III. Part Three: Principles of Macroeconomic Theory
IV. Part Four: Principles of International Economic Theory

Examines alternative economic, political, and social perspectives of property rights and their policy and planning implications. Focuses on institutional and governance structures, power and control mechanisms, distributional consequences of different property rights arrangements, and problems of incomplete contracts as presented in theory and practice. Deals with property-rights issues related to two or more of the following: land, natural resources, infrastructure, or industrial organization.

This course covers theory and evidence on government taxation policy. Topics include tax incidence, optimal tax theory, the effect of taxation on labor supply and savings, taxation and corporate behavior, and tax expenditure policy.

Theory and evidence on government expenditure policy. Topics include the theory of public goods; education; state and local public goods; political economy; redistribution and welfare policy; social insurance programs such as social security and unemployment insurance; and health care policy.

Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming, school choice by K-12 students, Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations.

Discrete and continuum modeling of diffusion processes in physics, chemistry, and economics. Topics include central limit theorems, continuous-time random walks, Levy flights, correlations, extreme events, mixing, renormalization, and percolation.