Principles of Economics, 8/E
Karl E. Case, Wellesley College
Ray C. Fair, Yale University

ISBN-10: 0132289148
ISBN-13: 9780132289146

Publisher: Prentice Hall
Copyright: 2007
Format: Cloth; 896 pp
Published: 08/02/2006

Suggested retail price: $173.33
Not available for purchase at this time.

Target Market: for the 2 semester principles of economics course.

 

One of the all time best-sellers, this text is widely used because of its careful, streamlined, and intuitive chapter organization.

 

Microeconomics Organization

 

Case & Fair, present a very precise and simplified microeconomic model first, before introducing all the exceptions and subtleties of a more complex economic world.  Only after this simplified model is developed, do the authors give a throrough treatment of market imperfections, externalities, public finance, and international economics.  (A detailed summary of this approach can be found in the preface).

 

Macroeconomics Organization

 

The Keynesian Cross is an integral part of this text.  Case & Fair believe strongly, that a text should use the Keynsian Cross carefully and systematically, to build up to the AD/AS model.  One of the great benefits of this appoach, is that students won't mistakenly apply what they learned about simple demand and supply to aggregate demand & supply.  (A detailed summary of this approach can be found in the preface)

One of the all time best-sellers, this text is widely used because of its careful, streamlined, and intuitive chapter organization.

 

Microeconomics Organization

 

"Are you tired of books that sacrifice clarity by introducing some of the complexities of economic theory too early?"

 

Case & Fair, present a very precise and simplified microeconomic model first, before introducing all the exceptions and subtleties of a more complex economic world.  Only after this simplified model is developed, do the authors give a throrough treatment of market imperfections, externalities, public finance, and international economics.  (A detailed summary of this approach can be found in the preface).


Macroeconomics Organization

 

"Do you think the Keynsian Cross should be integrated more thoroughly into principles text?  "Are you tired of books that relegate Keynsian Cross coverage to "optional" chapters?"

 

The Keynsian Cross is an integral part of this text.  Case & Fair believe strongly, that a text should use the Keynsian Cross carefully and systematically, to build up to the AD/AS model.  One of the great benefits of this appoach, is that students won't mistakenly apply what they learned about simple demand and supply to aggregate demand & supply.  (A detailed summary of this approach can be found in the preface).  

 

Other Points of Distinction

 
"Do you think that newspaper and magazine articles can be an effective tool for motivating the concepts taught in principles of economics?  Is it ever challenging to find a recent article that ties into the week's lecture? 
 
With Case & Fair you and your students have three cafefully integrated, and easy to use, sources for gathering and integrating the news into lecture or homework:
  1. In Text News Analysis - The authors have takenreal news articles from The Wall Street Journal, The New York Times, The Economist, and others, and have strategically integrated them into their text, in a feature called News Analysis.  In this new edition, the authors have also added homework problems for News Analysis articles at the end of the chapter. (Example: P. 71 Mad Cow Disease Cuts Demand for Cattle, with Problem 12 on P. 75)
  2. Online Weekly News Updates - In addition to the news articles in the text, the Case & Fair also brings you two new articles each week, one for Microeconomics and one for Macroeconomics.  Each update includes a direct link to the original web source, a summary, and a set of critical thinking questions that can be assigned or used to open classroom discussion.  (Articles are available via MyEconLab.com)
  3. Online Chapter by Chapter News Archive - We know that the week's news isn't always relevant to the chapter you are on in class.  That's why we keep an extensive archive of all Weekly News Updates, and organize them by chapter.  Before your lecture, simply check the chapter by chapter archive to see if there is something interesting to bring in class that is both timely and relevant to the concepts that are being covered.  (Articles are available via MyEconLab.com) 
 "Professor, are any one of these: end of chapter questions, test bank materials, or on-line homework software important to you?"

 

Now, names you trust in Economics, Case & Fair, have a brand new edition that continues its history of excellence in economic content and applications with a brand new focus on assessment.

  1. MyEconLab--this on-line, self graded homework, tutorial, and testing software is now available with Case/Fair's Economics 8e.  Make your life easier by creating on-line homework for your students, as well as, save time with the guided solutions and eText offered in the tutorial and homework sections of the software.  The software and text are fully integrated.  In addition, The FULL eTEXT for Case and Fair's Economics 8e is available in MyEconLab for $60!
  2. Updated and Expanded End of Chapter Material--the end of chapter material has been expanded and updated so you can deliver the best questions for your students to learn the material in the class. See the end of any chapter.
  3. Case & Fair's TWO YEAR TEST BANK--use Case & Fair's TWO YEAR TEST BANK so you can make new quizzes and tests in year 1 and year 2 of using the Case and Fair text.  This strategy cuts down on shared tests between students. The test banks have been completely revised and updated with new questions.  Test bank #1 has all computer gradeable questions for you to assign in year 1, Test Bank #2 has all computer gradeable questions for you to assign in year 2, and Test Bank #3 has open ended, fill-in, and essay questions so you can use odd questions in year one and even questions in year 2.
 

"I often hear that assessing students in this course is one of professors' greatest challenges, would you agree?"

"Professor, are any one of these: end of chapter questions, test bank materials, or on-line homework software important to you?"

 

Now, names you trust in Economics, Case & Fair, have a brand new edition that continues its history of excellence in economic content and applications with a brand new focus on assessment.

  1. MyEconLab--this on-line, self graded homework, tutorial, and testing software is now available with Case/Fair's Economics 8e.  Make your life easier by creating on-line homework for your students, as well as, save time with the guided solutions and eText offered in the tutorial and homework sections of the software.  The software and text are fully integrated.  In addition, The FULL eTEXT for Case and Fair's Economics 8e is available in MyEconLab for $60!
  2. Updated and Expanded End of Chapter Material--the end of chapter material has been expanded and updated so you can deliver the best questions for your students to learn the material in the class.
  3. Case & Fair's TWO YEAR TEST BANK--use Case & Fair's TWO YEAR TEST BANK so you can make new quizzes and tests in year 1 and year 2 of using the case and Fair text.  This strategy cuts down on shared tests between students. The test banks have been completely revised and updated with new questions.  Test bank #1 has all computer gradeable questions for you to assign in year 1, Test Bank #2 has all computer gradeable questions for you to assign in year 2, and Test Bank #3 has open ended, fill-in, and essay questions so you can use odd questions in year one and even questions in year 2.

 "Professor, do you like to use examples from the newpaper to drive economic concepts home with your students?"

 

Case & Fair have revised over 80% of their "News Analysis" boxes to reflect the most current news articles.

  • Currency is critical to an economics course, as well as, stong applications.  Case & Fair has revised their top notch "News Analysis" feature to reflect the most current news examples to illustrate the economic concepts in their book.

 

MACRO:

 "Professor, do you get to the Growth Chapter in Case & Fair, Economics, with your students?" 

 

Case & Fair boasts expanded Coverage of Growth in Chapter 18.

  • Growth is a topic where the use of many real world examples can help students to understand how economics works in the world around them.  It is also a more modern way to look at Macroeconomics.  Case & Fair have revised their coverage in this chapter to reflect the changes and highlight the topics students will find most interesting.  Pages 359-377

MICRO:

 Professor, how do you cover Elasticity?

 

Case/Fair 8e has a new Chapter: The material on elasticity in the previous Chapter 4 has been expanded into a new Chapter 5: Elasticity.

  • more and more Microeconomics instrcutors are looking for more Elasticity coverage, so Case/Fair beefed up that coverage to support the needs of the marketplace.

 "Professor, are you interested in offering or covering more on the topic of Game Theory?" 

 

Case & Fair boasts brand new Game Theory Coverage in Chapter 14.

  • Game Theory is a fun topic to cover that helps students understand the relationship between economic theory and the wold around them.  Pages XX

 

I. INTRODUCTION TO ECONOMICS.

1. The Scope and Method of Economics.

2. The Economic Problem: Scarcity and Choice.

3. Demand, Supply, and Market Equilibrium.

4. Demand and Supply Applications .

5. Elasticity

 

II. FOUNDATIONS OF MICROECONOMICS: CONSUMERS AND FIRMS.

6. Household Behavior and Consumer Choice

7. The Production Process: The Behavior of Profit-Maximizing Firms.

8. Short-Run Costs and Output Decisions.

9. Long-Run Costs and Output Decisions.

10. Input Demand: The Labor and Land Markets.

11. Input Demand: The Capital Market and the Investment Decision.

12. General Equilibrium and the Efficiency of Perfect Competition

 

III. MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT.

13. Monopoly and Antitrust Policy.

14. Monopolistic Competition and Oligopoly.

15. Externalities, Public Goods, Imperfect Information, and Social Choice.

16. Income Distribution and Poverty.

17. Public Finance: The Economics of Taxation.

IV. CONCEPTS AND PROBLEMS IN MACROECONOMICS.

18. Introduction to Macroeconomics.

19. Measuring National Output and National Income.

20. Long-Run and Short-Run Concerns: Growth, Productivity, Unemployment, and Inflation.

 

V. THE GOODS AND MONEY MARKETS.

21. Aggregate Expenditure and Equilibrium Output.

22. The Government and Fiscal Policy.

23. The Money Supply and the Federal Reserve System.

24. Money Demand, the Equilibrium Interest Rate, and Monetary Policy.

 

VI. MACROECONOMIC ANALYSIS.

25. Money, the Interest Rate, and Output: Analysis and Policy.

26. Aggregate Demand, Aggregate Supply, and Inflation.

27. The Labor Market, Unemployment, and Inflation.

28. Macroeconomic Issues and Policy.

29. The Stock Market and the Economy.

30. Household and Firm Behavior in the Macroeconomy: A Further Look.

31. Long-Run Growth.

32. Debates in Macroeconomics: Monetarism, New Classical Theory, and Supply-Side Economics.

 

VII. THE WORLD ECONOMY.

33. International Trade, Comparative Advantage, and Protectionism.

34. Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates.

35. Globalization.

36. Economic Growth in Developing and Transitional Economies.

Glossary.

Solutions to Even-Numbered Problems.

Index.

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