Fourth Edition of Paul Heyne's ECONOMIC WAY OF THINKING

Principles of economics has been an easy course to teach because we have used it largely to regurgitate the bits of technique acquired during our own training in economics. There are so many such bits and pieces and they are so hard for students to grasp, that principles teachers need never worry about what to do today. They can always introduce a new complication or spend the hour clarifying the complication introduced yesterday. And they don't even have to prepare the complications. A single phrase- elasticity, total average marginal revenue, long-run competitive equilibrium, marginal value product, IS-LM, the multiplier, will serve as an adequate text for an entire class session.