- Microeconomics: Canada in the Global Environment Plus MyEconLab with Pearson eText -- Access Card Package, 7/E
- ISBN-10: 0321678419 • ISBN-13: 9780321678416
- ©2010 • Pearson Education Canada • Paper Bound with Access Card, 528 pp
- Published 07/28/2009
Parkin/Bade trains students to think like economists by offering a clear introduction to theory and applying the concepts to today’s events, news, and research.
From our global food shortage to global warming, economic issues permeate our everyday lives. These critical issues are at the forefront of this new edition. Each chapter begins with one of today’s key issues, which is then woven through the chapter to show the real-world applications of the theory discussed. When the chapter concludes, students “read between the lines” to think critically about a news article relating to the issue in order to make informed decisions.
· Chapter-opening vignettes motivate readers and focus the chapter. In the 7th Canadian Edition, these focus on current global issues like natural resources, economic inequality, and global warming. Those topics are woven through the chapter to show the big-picture implications of the theory and the chapter culminates with a Reading Between the Lines feature.
· Reading Between the Lines shows students how to apply economic tools. At the end of each chapter, students use their new economic tools to evaluate a current news article and test their reasoning skills.
· Parkin's diagrams show the action. With a consistent and meaningful use of color, each and every figure has been designed with the needs of students in mind. Graphs are paired with data tables, color-blended arrows show movement, diagrams are labeled with boxed notes, and extended captions provide study and review.
· In-text Review Quizzes reinforce major concepts. Sections end with short Review Quizzes that test students’ knowledge of the topics just discussed. These questions can be assigned and auto-graded in MyEconLab, which is a convenient way to encourage students to read the chapter before coming to class.
· Interviews with Economists. One of the inherent goals in Parkin/Bade is to show students that people just like them have gone on to change the landscape of economic history. At the end of each part, a captivating interview with one of today’s leading economists shows what inspired that person to pursue a career in economics. With relevant advice geared toward beginners, students see how real people can make a difference in the discipline.
With MyEconLab®–an online tutorial and assessment resource—students spend more time doing economics, and instructors spend less time grading. Visit MyEconLab to learn more, take a tour, and request access.
o Complete integration between the book and MyEconLab: Each new student copy comes with prepaid access to a MyEconLab course developed specifically to accompany this text. All end-of-chapter questions are available so students can make the most of their study time, and all in-text figures are animated with author narration within MyEconLab.
o Learning through practice: For each chapter, students can self-study using the preloaded sample tests and tutorial resources, or they can complete instructor-assigned problems. MyEconLab automatically grades exercises—even graphing problems—so students get instant feedback and personalized Study Plans with links to additional learning tools.
o Economics in the News: Michael Parkin and Robin Bade select news stories to bring economic concepts to life for students. Thought-provoking questions accompany each featured story and are assignable in MyEconLab.
o Online instructor tools: Within MyEconLab, instructors can assign preloaded or customized multiple-choice, graphing, algorithmic, and free-response questions. Exercises are auto-graded, and MyEconLab records the results in an online gradebook to effortlessly track student progress.
Major changes in the Seventh edition
The seventh edition of Economics Canada in the Global Economy retains all of the improvements achieved from its predecessors, with its thorough and detailed presentation of the principles of economics, its emphasis on real-world examples and applications, its development of critical thinking skills, its diagrams renowned for pedagogy and precision, and its path-breaking technology. This comprehensive revision also incorporates and responds to the suggestions for improvements made by reviewers and users, in both the broad architecture of the text and chapter-by-chapter.
Current Issues Organize Each Chapter
News stories about today’s major economic events tie each chapter together, from new chapter-opening vignettes to end-of-chapter problems and online practice. Students learn to use economic tools to analyze their own daily decisions and recent real-world events and issues.
Each chapter includes a discussion of a critical issue of our time to demonstrate how economic theory can be applied to explore a particular debate or question. Issues of central importance include:
The end-of-chapter problems have been expanded to become “Problems and Applications.” Each chapter has approximately 10 new additional problems tied to current news and events.
Highlights of the Micro Revision
In addition to being thoroughly updated and revised to include the topics and features just described, the microeconomics chapters feature the following six major changes:
1. Global Markets in Action (Chapter 7): This new chapter explains the sources and effects of international trade, its winners and losers, and the effects of trade protection (tariffs and import quotas) on economic welfare. The chapter applies the tools of demand and supply, consumer and producer surplus, and deadweight loss explained in two earlier chapters. Offshore outsourcing and the ongoing failure of the Doha negotiations feature in this chapter.
2. Utility and Demand (Chapter 8): Extensively revised and reorganized, this chapter provides a more intuitive and less graphical analysis of utility maximization. Changes in consumer choices in the market for recorded music, in which digital downloads have almost driven out CDs, illustrate the predictions of marginal utility theory. The chapter includes an explanation of behavioural economics and neuroeconomics. (Material on the budget line found in the previous edition is omitted from this chapter but can be found in the first part of Chapter 9, an alternative chapter on indifference curves.)
3. Monopoly (Chapter 13): The final section of this chapter now covers the regulation of natural monopoly, which was previously found in a separate chapter. This change enables monopoly regulation to be covered when the material on unregulated monopoly and its inefficiency is fresh in the student’s mind.
4. Monopolistic Competition (Chapter 14): In the seventh edition, this market type has its own full-chapter treatment. High selling costs are illustrated with the breakdown of the price of a pair of running shoes between manufacturing and selling. An example focused on cell phones illustrates product differentiation.
5. Oligopoly (Chapter 15): This market type also has its own chapter and is expanded to include a section on anti-combine law. As with the change in the monopoly chapter, this change enables anti-combine law to be studied when the coverage of cartels and the temptation to fix prices is still in the student’s mind.
6. Externalities (Chapter 16): This seventh edition chapter focuses on climate change and the economic debate it engenders, as we feature these topics at several points as the major example of a negative externality and the alternative ways of dealing with it.
Part One. Introduction
1. What is Economics?
Appendix.1A. Graphs in Economics
2. The Economic Problem
Part Two. How Markets Work
3. Demand and Supply
5. Efficiency and Equity
6. Government Actions in Markets
7. Global Markets in Action
Part Three. Households’ Choices
8. Utility and Demand
9. Possibilities, Preferences, and Choices
Part Four. Firms and Markets
10. Organizing Production
11. Output and Costs
12. Perfect Competition
14. Monopolistic Competition
Part Five. Market Failure and Government
17. Public Goods and Common Resources
Part Six. Factor Markets and Inequality
18. Markets for Factors of Production
19. Economic Inequality
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