Economics Principles and Tools

For 2 semester courses covering Principles of Microeconomics or Macroeconomics. An Active Approach to Modern Economics. O'Sullivan/Sheffrin makes use of Active Learning Tools which get students involved in role-playing, help them apply concepts, and offer reinforcement of the material (tools include: Economic Experiments, Application Questions, and Test Your Understanding Questions). The text provides a clear, concise, and accessible presentation of key points. Its hallmark feature includes a focus on the 5 Key Principles of Economics 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Principle of Voluntary Exchange, 5) The Real-Nominal Principle (distinguishing real from nominal magnitudes). It is available in a hardbound, Economics text, as well as, Micro and Macro splits.O'Sullivan, Arthur is the author of 'Economics Principles and Tools', published 2005 under ISBN 9780131479715 and ISBN 0131479717.