Author Description

A complete introduction for the two-term course, this text presents standard economic topics in a standard sequence, but also features an evolutionary approach to help students understand how American and world economies are changing. Topics that emphasize the evolutionary nature of economics include the increasing importance of small business, the shift toward specialized production methods, the growing role of the international corporation, the debate between varieties of capitalism as opposed to capitalism vs. socialism, and more. New and post-Keynesian ideas are discussed, but there is not a particular theoretical agenda; public choice theory and real business cycles are covered as well. Recap sections make sure students have an adequate understanding of the material before reading further.