Written in an informal colloquial style, this student-friendly
Principles of Economics textbook does not sacrifice
intellectual depth in its quest for accessibility.
The author’s primary concern is to instill “economic
sensibility” in the student. Colander emphasizes the
intellectual and historical context to which the economic
models are applied. The seventh edition has been significantly
revised to make it simpler, shorter, more organized
and more applicable to the real world.
Chapter dedicated to game theory and strategic thinking:
Given the increasing importance of game theory in
economic analysis, an introductory discussion on the
topic has been moved to its own chapter (Chapter 14:
Game Theory, Strategic Thinking, and Behavioral Economics).
The game theory presentation is at a principles-appropriate
level, giving students a flavor of the game theory
approach and faculty an opening to go beyond what
is presented in the book.
Approach to monetary policy coverage: Coverage of
the supply and demand for loanable funds and the supply
and demand for money has been added to Chapter 27
to set up a discussion of the yield curve in Chapter
28. Chapter 28, Monetary Policy, now focuses on monetary
policy and open market operations, reflecting the
topics that are becoming central to discussions of
Revised chapter on fiscal policy and public finance:
Fiscal policy is now the sole focus of Chapter 30,
providing an overview of economists’ approach to fiscal
policy from classical approach to the modern dynamic
stochastic equilibrium approach.
Fully updated: To keep the text as relevant as possible,
the facts, figures, and end-of-chapter questions have
all been updated with the latest data and examples.
Additionally, discussions have been revised to match
current interests in the profession, keeping up with
the evolution of the economy and economics.
iPod Content: iPod content is now available for students
through the Enhanced Cartridge or as Premium Content
on the Colander OLC. (See description under Online