Principles of Economics in a Nutshell

Lorenzo Garbo is Professor in the Department of Economics at University of Redlands, USA.Dorene Isenberg is Professor in the Department of Economics at University of Redlands, USA.Nicholas Reksten is Assistant Professor in the Department of Economics at University of Redlands, USA.

• 1 More than just the stock market: introduction to economics 2 Not in the Garden of Eden: scarcity and tradeoffs 3 Led by an invisible hand: the market 4 Inside the magic box: productivity, costs, and profit maximization 5 Understanding the wealth of nations: national income accounting 6 In the short-run we are alive: macroeconomic theory and policy: the goods market 7 Money changes everything: macroeconomic theory and policy: the money market 8 The embedded economy

"This introductory economics textbook is long overdue. For too long, students taking their first economics course have had difficulty seeing how material can be used to address the most important issues we face in society. This textbook gives students a strong foundation in economic theory and shows them how to use what they learn to address interesting and relevant topics in economics such as non-market transactions, household production and environmental problems." – Professor Matthew Lang, University of California, Riverside"This textbook is for professors who want to teach the basics of economics within a broad and open-minded Liberal Arts framework." – Professor James Devine, Loyola Marymount University "A much-needed alternative textbook to engage students in today’s economic issues." – Professor Mark Maier, Glendale Community College