Economics: Principles for a Changing World by Eric Chiang - Fifth Edition, 2020 from Macmillan Student Store
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Economics: Principles for a Changing World

Fifth Edition ©2020 Eric Chiang

With this edition, Eric Chiang continues to link economics concepts to topics of personal interest to students. The new edition is a thoroughly contemporary, fully integrated print/technology resource that adapts to the way you want to teach. As always, this concise book focuses on the topics mos...

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Economics: Principles for a Changing World by Eric Chiang - Fifth Edition, 2020 from Macmillan Student Store

Building students’ love of (and confidence in!) economics

With this edition, Eric Chiang continues to link economics concepts to topics of personal interest to students. The new edition is a thoroughly contemporary, fully integrated print/technology resource that adapts to the way you want to teach. As always, this concise book focuses on the topics most often covered in the principles course, but with this edition, it offers a stronger emphasis than ever on helping students apply an economic way of thinking to the overwhelming flow of data we face every day.

Economics: Principles for a Changing World is fully informed by Eric Chiang’s experiences teaching thousands of students worldwide, both in person and online. Developing the text, art, media, homework, and ancillaries simultaneously, Chiang translates those experiences into a cohesive approach that embodies the book’s founding principles:

To use technology as a tool for learning—before lectures, during class, when doing homework, and at exam time

To help students harness the data literacy they’ll need as consumers of economic information

Features

Technology as a Tool for Success
Economics: Principles for a Changing World, Fifth Edition takes full advantage of the possibilities of interactive learning with customization media options

Data Literacy
Data can be used (or misused) to support any number of stories and arguments. Eric Chiang emphasizes data literacy throughout the book, especially with the reconceptualized By the Numbers infographics (with questions for review as well as application), which help students read data and evaluate the economic news they encounter in daily life.

Global Perspective
Most principles texts simply seek to provide an international context for economic principles. Eric Chiang’s Around the World feature goes further, helping students recognize that people all over the world face many of the same economic problems, yet seek to solve these problems in different ways.

Seamless Connection Between the Author, the Text, and the Technology
Ordinarily with textbooks, authors write the chapters, then make decisions about art and images, then assemble a test bank and ancillaries. For Economics: Principles for a Changing World, Fifth Edition, Eric Chiang writes the text, develops the visual program, and puts together ancillary and homework resources simultaneously. These threads come together for a complete learning program, with every element integrated by the author himself.

New to This Edition

Enhanced Presentation of Three Integrated Themes—Technology, Data Literacy, and Global Perspective.

Each chapter of Economics: Principles for a Changing World now features:

  • An Eric Chiang video on an important, from-the-headlines topic relevant to the chapter, such as healthcare and the Affordable Care Act
  • By the Numbers infographics, completely reconceptualized for this edition, both reinforce the importance of data literacy and get students to practice it 
  • Around the World features with activities in LaunchPad to give students a global perspective on economic issues
  • A+ Rated Coverage of Sustainability updated in Chapter 13, Externalities and Public Goods, and now extended to Chapter 4, Markets and Government
  • Wholly Revised Coverage of the Absolute and Comparative Advantage, Gains from Trade, and Effects of Tariffs and Quotas in Chapter 26, International Trade

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Table of Contents

  1. Exploring Economics
  2. Production, Economic Growth, and Trade 
  3.  Supply and Demand 
  4.  Markets and Government 
  5.  Elasticity 
  6.  Consumer Choice and Demand 
  7. Production and Costs 
  8.  Perfect Competition 
  9.  Monopoly 
  10. Monopolistic Competition, Oligopoly, and Game Theory 
  11.  Labor Markets 
  12.  Land, Capital Markets, and Innovation 
  13.  Externalities and Public Goods 
  14.  Global Networks 
  15.  Poverty and Income Distribution 
  16.  Introduction to Macroeconomics 
  17.  Measuring Inflation and Unemployment 
  18.  Economic Growth 
  19.  Aggregate Expenditures 
  20.  Aggregate Demand and Supply 
  21.  Fiscal Policy and Debt 
  22.  Saving, Investment, and the Financial System 
  23.  Money Creation and the Federal Reserve 
  24.  Monetary Policy 
  25.  Macroeconomic Policy Challenges 
  26.  International Trade 
  27.  Open Economy Macroeconomics

Eric Chiang

Eric P. Chiang received his bachelor’s degree in economics from the University of Nevada Las Vegas and his master’s and doctorate in economics from the University of Florida. His first academic position was at New Mexico State University. Currently, Eric is an associate professor and graduate director of the Department of Economics at Florida Atlantic University. Eric also serves as the director of instructional technology for the College of Business.

In 2009 Eric was the recipient of Florida Atlantic University’s highest teaching honor, the Distinguished Teacher of the Year Award. Among numerous other teaching awards, he also was named the Stewart Distinguished Professor at the College of Business. He has written over 35 articles in peer-reviewed journals on a range of subjects, including technology spillovers, intellectual property rights, telecommunications, and health care. His research has appeared in leading journals, including the Review of Economics and Statistics, Journal of Technology Transfer, and Southern Economic Journal. He is a frequent presenter at major economics conferences and at universities across the country and around the world.

As an instructor who teaches both face-to-face and online courses, Eric uses a variety of technological tools, including clickers, Web-based polling, lecture capture, and homework management systems to complement his active-learning-style lectures. As an administrator in the College of Business, Eric’s role as director of instructional technology involves assisting instructors with effectively implementing classroom technologies. In this position, Eric also ensures that the quality of online courses meets accreditation standards, including those set by the Association to Advance Collegiate Schools of Business (AACSB).

In addition to his dedication to teaching economic principles and his administrative duties, Eric devotes time to new research in economic education. His current research focuses on student learning outcomes in economics education based on the different methods of instruction in use today. The fifth edition of Economics: Principles for a Changing World embodies Eric’s devotion to economics education and the benefits of adapting to the new, often creative ways in which students learn and instructors teach.

In his spare time, Eric enjoys studying cultures and languages. He has visited all fifty U.S. states and over eighty countries, often taking long jogs in the cities he visits to experience local life to the fullest. A more quirky fact: Eric is a professional mini-golf player, having competed in both the Pro Mini Golf U.S. Open and Masters tournaments. In 2019, he was a contestant on ABC’s extreme mini-golf game show Holey Moley.

V. Around the World in 80 Hours with Eric Chiang: 3rd Ed. 2014

Chicago, IL - India - Macao - Hong Kong

IV. Around the World in 80 Hours with Chiang & Vazquez 4th Ed. 2015

Washington, D.C. - Dubai - Singapore

III. Around the World in 80 Hours with Eric Chiang: 5th Ed. 2016

Miami, FL - Columbia - Brazil - South Africa - Dubai

VI. Around the World in 80 Hours with Eric Chiang: 2nd Ed. 2013

Florida - England - Gibraltor - Japan - South Korea - San Francisco, CA

I. Around the World in 80 Hours with Eric Chiang: 6th Ed. 2018

VII. Around the World in 80 Hours with Eric Chiang

New York City - Germany - Japan - Philippines - Canada