The Best selling economics textbook in the world. An estimated 15 million students have used Economics or its companion editions, Macroeconomics and Microeconomics.
The 21st edition of Economics have new discussions on strategic behavior, game theory, unconventional monetary policy and interest rate normalization. Split the material on monopolistic competition and oligopoly that had together comprised a single chapter in previous editions into two separate chapters. This should be particularly helpful to instructors who want to spend more time on oligopoly.
Two-Path Macro:Instructors who focus exclusively on Aggregate Demand-Aggregate Supply Model can now more easily skip the Aggregate Expenditure (Keynesian) model than before, while those who teach both the AD/AS and AE models can continue to do so in a logical manner.
A Patient, Step-by-Step Approach: Realizing that for most students, this is their first introduction to economics, the authors take a patient, step-by step approach to teaching the material. The authors explain the theory and models slowly and thoroughly.