Principles of Microeconomics

by Robert Frank, Lars Osberg, Brian Maclean

This brand-new principles of economics text is the most exciting new entry in years. Written by well-known and well-respected economists, Bob Frank, Ben Bernanke, Lars Osberg (Dalhousie University), Melvin Cross (Dalhousie University) and Brian MacLean (Laurentian University) the text seeks to teach introductory students the core economic concepts--the essence of economics-- without overwhelming them with details. A well-articulated short list of core principles is introduced and reinforced by illustrating and applying each principle in several contexts, and then asking students to work exercises to see what they have learned. The text seeks to create "Economic Naturalists"; that is, after reading the text, students will ask (and answer) questions about their economic environment. For example, students will see Braille dots on drive-up ATMs and ask why they are there. Peppered with such thought-provoking examples, Frank/Bernanke not only engage students, but teaches them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation.

Genres: Economics, Reference, Business, Textbooks, Nonfiction, Academic

480 pages, Paperback

First published January 1, 1994

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Reviews

[Brandon Meredith · Rating 5 out of 5]

I read a bunch of this book in bits and pieces and learned a ton (go ahead, ask me for three ways to calculate GDP). Who knew that Ben Bernanke was such a good writer? If you want to know why flooding the market with cash after a financial crisis is much less frightening than doing the contrary, read the concise and interesting section on monetary policy. I'm sure I'll pick it up again in the future.

[Gia · Rating 5 out of 5]

Everyone should study Microeconomics! You'll have a deeper understanding of business and politics by knowing economics. My personal favorites are: Cost/Benefit Analysis, Elasticity, Scarcity Principle and calculating Economic Profit. Thought the book should have spent more time however on Economies of Scale.

[Brian · Rating 3 out of 5]

Read it for a student I was teaching, surprisingly good at explaining some ideas without crowding it out with too many numbers.

I haven't figured out yet whether it is better to instruct a student better through teaching them the actual calculations process primarily with the material or just focusing on the theory behind it. It's certainly easier for me because I'm terrible with numbers, but for others, i'm not sure. They definietly each have their own advantages. If you're looking to teach a student, this is pretty good at covering the general concepts of econ. And it's a pretty big name so I suppose there's an added incentive in learning about public economists.

That being said, some of the examples it teaches use really simplistic rational actor models of economics, which makes the writers personal positions fairly clear. This is cleared up if one takes an economics course past econ 101, but otherwise, it can be pretty misleading [as in, there are more debates on the points then originally contended].

[Aysha Ross · Rating 5 out of 5]

This book is a great introduction to economics and how it relates to policy.

[eeshah · Rating 5 out of 5]

Learned a lot tbh

[Patricia · Rating 4 out of 5]

This is a nice, straightforward guide to the material. A little hokey and heartless at times, but I expect nothing less of an economics textbook. The examples are good and the cartoons are groan-worthy.

[Shamma Al Hetmi · Rating 1 out of 5]

I hate economics.

[Sandra · Rating 4 out of 5]

It has some good excersises that not a lot of teachers explain so its good for extra studying material