Principles of Economics + DiscoverEcon code card [Hardcover]

Robert Frank (Author), Ben Bernanke (Author)

Book Description

Publication Date: December 15, 2005 | ISBN-10: 0073230596 | ISBN-13: 978-0073230597 | Edition: 3

In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of attempting to teach a short list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. Although recent editions of a few other texts have paid lip service to this new approach, Frank/Bernanke is by far the best thought out and best executed principles text in this mold. Avoiding excessive reliance on formal mathematical derivations, it presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforcing them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles to answer related questions and exercises.. . The text also encourages students to become �Economic Naturalists,� people who employ basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation. .

Editorial Reviews

About the Author

Robert H. Frank received his B.S. in mathematics from Georgia Tech in 1966, then taught math and science for two years as a Peace Corps Volunteer in rural Nepal. He received his M.A. in statistics from the University of California at Berkeley in 1971, and his Ph.D. in economics in 1972, also from U.C. Berkeley. He is the Goldwin Smith Professor of Economics at Cornell University, where he has taught since 1972 and where he currently holds a joint appointment in the department of economics and the Johnson Graduate School of Management. During leaves of absence from Cornell, he served as chief economist for the Civil Aeronautics Board from 1978 to 1980 and was a Fellow at the Center for Advanced Study in the Behavioral Sciences in 1992-93. He has published on a variety of subjects, including price and wage discrimination, public utility pricing, the measurement of unemployment spell lengths, and the distributional consequences of direct foreign investment. For the past several years, his research has focused on rivalry and cooperation in economic and social behavior. His books on these themes include Choosing the Right Pond: Human Behavior and the Quest for Status (Oxford University Press, 1985) and Passions Within Reason: The Strategic Role of the Emotions (W.W. Norton, 1988). He and Philip Cook are co-authors of The Winner-Take-All Society (The Free Press, 1995) , which received a Critic�s Choice Award and appeared on both the New York Times Notable Books list and Business Week Ten Best list for 1995. His most recent general interest publication is Luxury Fever (The Free Press, 1999). Professor Frank�s books have been translated into eight languages. He has been awarded an Andrew W. Mellon Professorship (1987 � 1990), a Kenan Enterprise Award (1993), and a Merrill Scholars Program Outstanding Educator Citation (1991).

Professor Bernanke received his B.A. in Economics from Harvard University in 1975 and his Ph.D. in economics from MIT in 1979. He taught at the Stanford Graduate School of Business from 1979 to 1985 and moved to Princeton University in 1985, where he was named the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs, where he served as Chairman of the Economics Department. He is a fellow of the American Academy of Arts and Sciences and the Econometrics Society. He was named a member of the Board of Governors of the Federal Reserve in 2002 and became the chairman of the President's council of Economic Advisers in 2005. In 2006 Ben Bernanke was selected to be the Chairman of the Federal Reserve Board.. . Professor Bernanke's intermediate textbook, with Andrew Abel, Macroeconomics, Fifth Edition (Addison-Wesley, 2004) is a best seller in its field. He has authored more than 50 scholarly publications in macroeconomics, macroeconomic history, and finance. He has done significant research on the causes of the Great Depression, the role of financial markets and institutions in the business cycle, and measuring the effects of monetary policy on the economy. His two most recent books, both published by Princeton University Press, include Inflation Targeting: Lessons from the International Experience (with coauthors) and Essays on the Great Depression. He has served as editor of the American Economic Review and was the founding editor of the International Journal of Central Banking. Professor Bernanke has taught principles of economics at both Stanford and Princeton..

Product Details

• Hardcover: 901 pages
• Publisher: McGraw-Hill/Irwin; 3 edition (December 15, 2005)
• Language: English
• ISBN-10: 0073230596
• ISBN-13: 978-0073230597
• Product Dimensions: 10.9 x 8.4 x 1.4 inches
• Shipping Weight: 4.7 pounds
• Average Customer Review: 3.5 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #470,704 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

2.0 out of 5 stars Poor quality book was supplied by the vendor, February 21, 2012

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Varun - See all my reviews

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This review is from: Principles of Economics (Hardcover)

Poor quality book was supplied by the vendor - The book was full of markings and the book was damaged more than what was described. Not worthy enough to put so much money.

2 of 4 people found the following review helpful:

3.0 out of 5 stars good for a beginner, April 7, 2011

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vtkev02 - See all my reviews

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This review is from: Principles of Economics, Brief Edition (The Mcgraw-Hill Series Economics) (Hardcover)

Had to buy this book for an MBA class... its got good elementary concepts in it. Wish the professor had used more info out of the book instead of elsewhere.

0 of 2 people found the following review helpful:

3.0 out of 5 stars What was on the order but....., January 12, 2011

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Barb - See all my reviews

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This review is from: Principles of Economics, Brief Edition (The Mcgraw-Hill Series Economics) (Hardcover)

I found this book on Amazon by ISBN for a class. But, it is the Brief Edition...not the full text book. Again, this is an abreviated version. Thankfully my class will only be covering 16 out of 28 chapters found in the full version. So, I will have a lighter book to carry to class. I just hope there are no other significant differences.