Short Description:
Written and published anonymously by Jonathan Swift in 1729, A Modest Proposal—full title A Modest Proposal For preventing the Children of Poor People From being a Burden to Their Parents or Country, and For making them Beneficial to the Publick—is a satirical essay which mocks the heartless attitudes towards the poor. In order to improve their economic troubles, the essay suggests that the impoverished Irish sell their children as food to rich gentlemen and ladies.

Long Description:
Written and published anonymously by Jonathan Swift in 1729, A Modest Proposal—full title A Modest Proposal For preventing the Children of Poor People From being a Burden to Their Parents or Country, and For making them Beneficial to the Publick—is a satirical essay which mocks the heartless attitudes towards the poor. In order to improve their economic troubles, the essay suggests that the impoverished Irish sell their children as food to rich gentlemen and ladies.

Word Count: 4255

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While current economic theory focuses on prices and games, this book models economic settings where harmony is established through one of the following societal conventions:

• A power relation according to which stronger agents are able to force weaker ones to do things against their will.
• A norm that categorizes actions as permissible or forbidden.
• A status relation over alternatives which limits each agent's choices.
• Systematic biases in agents' preferences.

These four conventions are analysed using simple and mathematically straightforward models, without any pretensions regarding direct applied usefulness. While we do not advocate for the adoption of any of these conventions specifically – we do advocate that when modelling an economic situation, alternative equilibrium notions should be considered, rather than automatically reaching for the familiar approaches of prices or games.

Political Economists are concerned with the allocation of scarce resources in a world of infinite wants and needs. In order to allocate these resources, politics are used within a state to provide for the people. Political economy is the study of the relationships between individuals and society, and more specifically, the relationships between citizens and states.

Political economy is a study of philosophy and ideology that studies the evolution of political and economic ideas. Political economy is a mixture of politics, economics, sociology, philosophy, and history, which all bring together evidence to the study of how humans exist within societies. Political economists study political ideology, economic structure, human interaction, human nature, and theories in philosophical thought. It is a study that studies not only the mechanics of a particular structure, but also the reasoning behind why a structure is regarded to be the best by various people with different beliefs.

The study of political economics can be split into two different sections, one which is Classical Political Economy and the other which is Modern Political Economy. The classical branch studies range from the conservative philosophers such as Machiavelli to liberals such as Adam Smith to the critiquers of liberalism such as Marx. The modern branch studies range from social liberals such as Keynes to modern political economists whose works deal with a multitude of issues including foreign trade and globalization.

Short Description:
A Practicum in Behavioral Economics is a practice-based textbook covering the broad field of behavioral economics. Because behavioral economics is foremost a “test-and-learn” field of scientific inquiry that evolves according to experimental outcomes, so too should students test-and-learn. As such, the book’s primary goal is to help students experience behavioral economics through participation in the same experiments and games that serve as the foundations for, and shape the contours of, the field. With the help of this book students learn behavioral economics firsthand, and in the process create their own experiences. They learn about themselves – about how they make private and public choices under experimental conditions – at the same time as they learn about the field of behavioral economics itself.

Long Description:
The approach of this book is premised on a simple assumption: because behavioral economics is foremost a “test-and-learn” field of scientific inquiry that evolves according to experimental outcomes – and practical, policy-orientated applications of the knowledge garnered from these outcomes – so too should students test-and-learn the field itself. Studying and practicing behavioral economics should occur simultaneously, which in turn requires a practicum more than it does a traditionally styled textbook.

A Practicum in Behavioral Economics takes a new approach to the style of academic textbooks. Based upon the author’s personal teaching experiences over the past 25+ years, and feedback from peers and students, it is clear that traditional theory-based textbooks in behavioral economics insufficiently stimulate the student, and thereby fail to connect the student viscerally and meaningfully to what has become an enticing canon of economic thought, inquiry, and practice. Because it is a practice-based text, A Practicum in Behavioral Economics promotes active learning and engagement with the realities of behavioral economics in the moment, and encourages students to think like behavioral economists rather than just passively learn about the body of theoretical, experimental, and empirical work economists have produced. The student’s imagination is sparked, which in turn sparks group discussion and discernment.

The book consists of four sections that, taken together, portray in full the eclectic methodologies comprising the field of behavioral economics. Sections 1 and 2 present the thought and laboratory experiments that have formed a key pillar of the field. The thought experiments are, for the most part, re-castings of the simple cognitive tests devised by psychologists and economists over the past three-to-four decades to illustrate the fallacies, miscalculations, and biases that distinguish homo sapiens from homo economicus; experiments compiled in Daniel Kahneman’s 2011 bestseller Thinking, Fast and Slow. Similarly, the laboratory experiments are, for the most part, re-castings of the seminal experiments conducted by Kahneman and Tversky (among others) that help motivate the revised theories of human choice behavior, such as Tversky and Kahneman’s (1979) Prospect Theory, that form another pillar of behavioral economics. Alongside these experiments, Section 2 presents the revised theories of choice behavior with varying degrees of rigor.

Section 3 submerses the student in the world of behavioral game theory. Here, we follow the lead of Colin F. Camerer’s 2003 graduate-level textbook Behavioral Game Theory: Experiments in Strategic Interaction and William Spaniel’s 2011 Game Theory 101: The Complete Textbook, first by characterizing the games analytically, i.e., identifying solution, or equilibrium, concepts that are predicted to result when members of homo economicus play the games, and then by discussing empirical results obtained from corresponding field experiments conducted with homo sapiens. It is within the context of these experiments that theories of social interaction are tested concerning inter alia trust and trustworthiness, honesty, fairness, reciprocity, and more. As with the thought and laboratory experiments presented in Sections 1 and 2, the classic games of iterative dominance and simultaneous moves presented in Section 3 are meant to be replicated with students as subjects and the instructor as experimenter, or researcher.

Finally, Section 4 wades into the vast sea of empirical research and choice architecture. Here students explore studies reporting on (1) the outcomes of actual policy nudges, some of which are featured in Richard H. Thaler and Cass Sunstein’s 2008 bestseller Nudge, (2) published studies based on analyses of secondary datasets that test for choice behavior consistent with the new theories of behavioral economics, and (3) published studies based on analyses of primary datasets obtained from novel field experiments to further test the revised theories. The main purpose of this section is not only to introduce the student to interesting empirical studies in behavioral economics, but also, in the process, to incubate in the student an abiding appreciation for the obscure settings that sometimes lend themselves to such study.

In the end, the content of A Practicum in Behavioral Economics is based upon sound pedagogical and scientific foundations that aim to support students in learning quickly and efficiently. The book promotes a practice-based approach, which is naturally consistent with the trial-and-error of everyday life. As a result, the approach goes beyond understanding and knowing. It requires using, applying, and acting. The method requires practice. It is this approach that is the most effective in teaching the many facets of behavioral economics to students.

Word Count: 145583

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Short Description:
Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way.

Long Description:
Principles of Microeconomics: Scarcity and Social Provisioning takes a pluralistic approach to the standard topics of an introductory microeconomics course. The text builds on the chiefly neoclassical material of the OpenStax Principles of Economics text, adding extensive content from heterodox economic thought. Emphasizing the importance of pluralism and critical thinking, the text presents the method and theory of neoclassical economics alongside critiques thereof and heterodox alternatives in both method and theory. This approach is taken from the outset of the text, where contrasting definitions of economics are discussed in the context of the various ways in which neoclassical and heterodox economists study the subject. The same approach–of theory and method, critique, and alternative theory theory and method–is taken in the study of consumption, production, and market exchange, as well as in the applied theory chapters. Historical and contemporary examples are given throughout, and both theory and application are presented with a balanced approach.

This textbook will be of interest especially to instructors and students who wish to go beyond the traditional approach to the fundamentals of microeconomic theory, and explore the wider spectrum of economic thought.

Instructors may contact Open Oregon Educational Resources for quiz question test banks associated with each chapter.

Word Count: 316070

ISBN: 978-1-63635-023-3

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Flat World Knowledge is thrilled to publish a first edition re-launch of Tim Tregarthen’s acclaimed Principles of Economics book, and proud to bring Tim's remarkable talents as a teacher to future generations of students.In 1996, Tim published the first edition of his principles of economics textbook to great acclaim, and it became widely used in colleges around the country. That same year, MS made him wheelchair-bound. The disease forced his retirement from teaching at the University of Colorado at Colorado Springs in 1998. He lost the use of his arms in 2001 and has been quadriplegic ever since.Tim never let his disease get him down. In fact, he turned back to his love of writing and teaching for inspiration. He obtained a voice-activated computer, recruited a co-author, Libby Rittenberg of Colorado College, and turned his attention to revising his principles of economics book.Today we are excited to introduce Libby Rittenberg and Timothy Tregarthen’s Principles of Economics. The authors teach economics as the study of “choice “ by providing students with an accessible, straightforward overview of economics. This text combines the clarity and writing of Tregarthen's seminal periodical "The Margin" with great teaching insights.Rittenberg and Tregarthen help students to understand how real individuals actually work with economics. In this new book, the authors illustrate the practicality and relevance of economics with a variety of new illustrations and insights.The authors take a three-pronged approach to every concept: (1) the concept is covered with a “Heads Up” to ward off confusion, (2) a “You Try It” section makes sure students are staying on top of the concept and (3) a “Case and Point” section that uses a real-world application to harness the concept in reality. For one example of how this plays out in the text see "Chapter 3, Section 2 on Supply." hereThis book is intended for a two-semester course in economics taught out of the social sciences or business school.

Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way.

Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way.

Short Description:
UNDER CONSTRUCTION. Please note that this edition of the textbook remains a work in progress. Content is subject to change and ongoing revisions are expected to continue until mid- to late-2023. The stable 2nd edition of the text is available at https://openoregon.pressbooks.pub/socialprovisioning2/

Word Count: 550396

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Word Count: 37597

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Recognizing that a course in economics may seem daunting to some students, we have tried to make the writing clear and engaging. Clarity comes in part from the intuitive presentation style, but we have also integrated a number of pedagogical features that we believe make learning economic concepts and principles easier and more fun. These features are very student-focused. The chapters themselves are written using a “modular” format. In particular, chapters generally consist of three main content sections that break down a particular topic into manageable parts. Each content section contains not only an exposition of the material at hand but also learning objectives, summaries, examples, and problems. Each chapter is introduced with a story to motivate the material and each chapter ends with a wrap-up and additional problems. Our goal is to encourage active learning by including many examples and many problems of different types.

Word Count: 34991

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The objective of this course is to provide an introduction to the study of the economic system from a macro or aggregate perspective. We will do an analysis of unemployment, inflation and the impact of government policies on the level of economic activity.

Principles of Macroeconomics covers the scope and sequence requirements of most introductory macroeconomics courses. The text also includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to both Keynesian and classical views, and to the theory and application of economics concepts.

Short Description:
This book is an adaptation of Principles of Microeconomics originally published by OpenStax. This adapted version has been reorganized into eight topics and expanded to include over 200 multiple choice questions, examples, eight case studies including questions and solutions, and over 200 editable figures.

Long Description:
This book is an adaptation of Principles of Microeconomics originally published by OpenStax. This adapted version has been reorganized into eight topics and expanded to include over 200 multiple choice questions, examples, eight case studies including questions and solutions, and over 200 editable figures.

Word Count: 104647

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The purpose of this course is to provide the student with a basic understanding of the principles of microeconomics. At its core, the study of economics deals with the choices and decisions that have to be made in order to manage scarce resources available to us. Microeconomics is the branch of economics that pertains to decisions made at the individual level, i.e. by individual consumers or individual firms, after evaluating resources, costs, and tradeoffs. "The economy" refers to the marketplace or system in which these choices interact with one another. In this course, the student will learn how and why these decisions are made and how they affect one another in the economy. Upon successful completion of this course, students will be able to: Think intuitively about economic problems; Identify how individual economic agents make rational choices given scarce resources and will know how to optimize the use of resources at hand; Understand some simplistic economic models related to Production, Trade, and the Circular Flow of Resources; Analyze and apply the mechanics of Demand and Supply for Individuals, Firms, and the Market; Apply the concept of Marginal Analysis in order to make optimal choices and identify whether the choices are 'efficient' or 'equitable'; Apply the concept of Elasticity as a measure of responsiveness to various variables; Identify the characteristic differences amongst various market structures, namely, Perfectly Competitive Markets, Non-Competitive Markets, and Imperfectly Competitive Markets and understand the differences in their operation; Analyze how the Demand and Supply technique works for the Resource Markets. (Economics 101; See also: Business Administration 200)

Short Description:
Principles of Microeconomics - First Edition highlights the behavior of an individual household or business in a particular market. The textbook discusses choices that individuals make in allocation of resources. It provides a concise yet comprehensive account of the core topics of microeconomics, including theories of the consumer and of the firm, market structure, and market failures caused by externalities. This OER uses many current examples from the Canadian economy to balance theory and its application of economic concepts. It explains all the concepts, tools, and techniques in a lucid language targeted for undergraduate students.

Word Count: 43884

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Short Description:
This book is an adaptation of Principles of Microeconomics originally published by OpenStax. This adapted version has been reorganized into eight topics and expanded to include over 200 multiple choice questions, examples, eight case studies including questions and solutions, and over 200 editable figures.

Long Description:
This book is an adaptation of Principles of Microeconomics originally published by OpenStax. This adapted version has been reorganized into eight topics and expanded to include over 200 multiple choice questions, examples, eight case studies including questions and solutions, and over 200 editable figures.

Word Count: 117696

(Note: This resource's metadata has been created automatically by reformatting and/or combining the information that the author initially provided as part of a bulk import process.)

Principles of Microeconomics is an adaptation of the textbook, Microeconomics: Markets, Methods, and Models by D. Curtis and I. Irvine, which provides concise yet complete coverage of introductory microeconomic theory, application and policy in a Canadian and global environment. This adaptation employs methods that use equations sparingly and do not utilize calculus. The key issues in most chapters are analyzed by introducing a numerical example or case study at the outset. Students are introduced immediately to the practice of taking a data set, examining it numerically, plotting it, and again analyzing the material in that form. The end-of-chapter problems involve numerical and graphical analysis, and a small number of problems in each chapter involve solving simple linear equations (intersecting straight lines). However, a sufficient number of questions is provided for the student to test understanding of the material without working through that subset of questions. This textbook is intended for a one-semester course, and can be used in a two-semester sequence with the companion textbook, Principles of Macroeconomics. The three introductory chapters are common to both textbooks.

Principles of Microeconomics covers the scope and sequence of most introductory microeconomics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts.