New Principles of Economics Now Available

I am very happy to say that the new edition of Principles of Economics v9.1 is now officially published. Here is where you can find it on the FlatWorld web page:  It has been pleasure for me to continue to work on this edition with Akila Weerapana of Wellesley College, who brings terrific experience and knowledge of teaching basic economic principles.

The book continues to cover basic economic principles at the introductory level, and it shows how economics is more important than ever. It remains grounded in the central idea that people make purposeful choices with scarce resources and interact with others when they make these choices. The new edition covers key issues related to COVID-19 and the economic policy responses. It is updated to reflect the current economic situation, and incorporates the latest GDP, inflation, and unemployment data in charts and figures. It includes tables and a discussion of the start and end dates of the 2020 recession sparked by the coronavirus pandemic. Applications reflect the impact of the coronavirus pandemic, and the book shows how students can use the basic model to understand the impact of the COVID-19 on the economy .

The book now has over 180 new links, including brief video lectures scripted and recorded by me that have been usefully aligned to introduce, explain, and illustrate key economic concepts. There are also links to videos that apply to real-world situations. The new book covers the fiscal policy responses and special monetary policy actions including the rapid growth of the Fed’s balance sheet in response to the impact of the COVID-19 pandemic and prospects for eventual unwinding.

There will also be separate volumes of the book, titled Principles of Microeconomics and Principles of Macroeconomics, available. All of the supplements for the books are updated to reflect the new videos and the content updates made in this version.

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