Publisher's Synopsis
Some people would rather perform root canal surgery on a rabid wolverine than sit through a discussion of Federal Reserve policies.Jack A. Chambless' An Applied Approach to Microeconomics prepares readers to become economically literate human beings by presenting real world issues in a somewhat controversial and humorous manner. The book is organized with a story in mind. The story takes the reader from the basic foundation of economic-thought through the market process and into the forces that shape the economic conditions we face every day.An Applied Approach to Microeconomics fills a niche in the economics textbook market by openly promoting the concept of free markets, economic liberty, and limited government. This comprehensive text takes the reader from the foundational principles of economics immediately into the economics of international trade, the history of capitalism and socialism and the basics of supply and demand analysis while incorporating real-world examples from the 2020 global pandemic, the trade policies of Presidents Trump and Biden and the lessons of Adam Smith, Karl Marx and others. The economics of climate change, marriage, income taxes and the welfare state are folded into the introductory chapters in a lively, controversial and eye-opening manner.From there, the reader is exposed to elasticity of demand and supply, productivity and cost analysis, labor economics and a unique chapter on biological economics to go along with the standard market structures material. The book looks at historically avoided subjects like the war on drugs, male-female earnings differences, the integration of Major League Baseball, the end of the NCAA monopoly and much more.Professors who want a balanced approach to economics will be pleased while those who tend towards more Classical perspectives will be thrilled.An Applied Approach to Microeconomics includes the following features:Concept Checks- questions created to make the reader think critically about issues that are central to the study of economics.Classroom Debates - current event topics that can be added to classroom discussions to enhance the reader's analytical tools.An Online Course Website with links to lectures, speeches, videos, audio essays, and more.
