Foundations of Economics, 9th Edition, AP® Edition © 2021
This program introduces students to economic principles they can use to navigate the financial decisions of their futures. The 9th Edition continues to fine-tune its content:
- More concise points with engaging digital features.
- Supports College Board course descriptions for AP® Macroeconomics and AP® Microeconomics.
- Accompanied by Pearson’s MyLab® platform with eText.
AP Economics Program with Digital Integration
Foundations of Economics, 9th Edition, is an engaging, practice-oriented approach to understanding core economic principles and applying them in the real world.
Fine-tuned content for building foundational economics knowledge
The 9th Edition brings newly distilled economics points to life with interactive and digital features that create excitement and engagement.
Contemporary economic examples are relevant to students’ modern lives.
Updated examples provide students with clarity and currency by reflecting recent events. Each chapter opening box is answered by an Eye On box that helps students see the economic factors behind a key global issue. Examples include the current gig economy, climate change and the Green New Deal, and a new section on employability.
New chapter features have an enhanced focus on outcome-driven teaching and learning.
- Diagrams make consistent use of color to show the direction of shifts, and detailed, numbered captions guide students step by step through actions to help them learn difficult concepts.
- Material is presented in graphs, words, and tables to help students who are apprehensive about working exclusively with graphs.
- The text leaves room for flexibility for educators who want to cover the material in a different order.
The program is hosted on interactive MyLab® Economics from Pearson.
Designed specifically for economics students and instructors, it uses adaptive learning technologies that provide a personalized study experience, while supporting instructors with valuable data about the strengths and weaknesses of each student.
AP Economic Teaching Solutions
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Core Concepts
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Eye On boxes helps students see that economics is a foundation of the world.
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Notable content updates to macroeconomics
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Notable microeconomics content updates
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Engaging Digital Interactives
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Help students focus on key conceptsEach chapter concentrates on approx. 3 to 4 ideas and revisits them throughout the text, to help students navigate the material and focus on key concepts.
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Updated examplesUpdated examples provide students with clarity and currency by reflecting recent events.
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New and updated discussions of important issuesNew and updated discussions of important issues help students better understand and embrace economics.
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Eye on the U.S. EconomyEye on the U.S. Economy relates examples to current and recent events.
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Eye on the Global Economy
Eye on the Global Economy puts these events in global context.
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Eye on the PastEye on the Past offers historical economic perspectives.
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Eye on Your Life
Eye on Your Life shows students how to apply economic principles to their lives.
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New boxes in the 9th edition focus on U.S. protection
New boxes in the 9th edition focus on U.S. protection; how the sharing economy intensifies competition; minimum wage; and Fintech in loans markets and payments.
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Chapter 21, “GDP: A Measure of Total Production and Income”Chapter 21, “GDP: A Measure of Total Production and Income,” covers using big data for real-time, high-frequency monitoring and “nowcasting” real GDP.
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Chapter 28, “Money, Interest, and Inflation”Chapter 28, “Money, Interest, and Inflation,” examines the Modern Monetary Theory movement and why it’s incorrect.
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Chapter 31, “The Short-Run Policy Tradeoff”Chapter 31, “The Short-Run Policy Tradeoff,” tries to solve the persistent low inflation puzzle.
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Chapter 32, “Fiscal Policy”Chapter 32, “Fiscal Policy,” looks at tax cuts, infrastructure spending, and increasing deficit.
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Chapter 34, “International Finance”Chapter 34, “International Finance,” includes the rise of protectionism and mercantilism.
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Chapter 1, “Getting Started”Chapter 1, “Getting Started,” contains a new section focusing on employability, including the job skills students can develop by studying economics and jobs available to economics majors.
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Chapter 6, “Efficiency of Fairness and Markets”Chapter 6, “Efficiency of Fairness and Markets,” replaces material on gouging with content on scalping.
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Chapter 10, “Externalities”Chapter 10, “Externalities,” discusses climate change and the Green New Deal.
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Chapter 12, “Private Information and Healthcare Markets”Chapter 12, “Private Information and Healthcare Markets,” streamlines and simplifies explanation of the lemons problem.
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Chapter 19, “Markets for Factors of Production”Chapter 19, “Markets for Factors of Production,” covers the gig economy (like Uber) and its effects on the labor market, plus falling wages of lower educated and/or less skilled people.
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Chapter 20, “Economic Inequality”Chapter 20, “Economic Inequality,” reviews the implications for income distribution.
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Progressive LevelsEach Digital Interactive has progressive levels where students can explore, apply, compare, and analyze a topic.
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Encourage Student EngagementDigital Interactives can be assigned and graded within MyLab, or used as a lecture tool to encourage engagement, classroom conversation, and group work.
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Access assignments, rosters, and resourcesYou can also link from Blackboard Learn, Brightspace by D2L, Canvas, or Moodle to MyLab Economics. Access assignments, rosters, and resources, and synchronize grades with your LMS gradebook.
Take a deeper look into Foundations of Economics AP Edition’s features
Program Overview
Get to know Foundations of Economics AP Edition with MyLab® Economics with Pearson eText
Online Platform for your AP Economics Instruction
MyLab® Economics from Pearson empowers teachers to reach every student by combining trusted author content with digital tools and a flexible platform. MyLab personalizes the learning experience and improves results for each student.
Correlation for AP®
Our solutions for AP® are designed to support and correlate the College Board's Course and Exam Descriptions for each corresponding course.
View CorrelationMore about Foundations of Economics
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Table of Contents
PART 1: INTRODUCTION
1. Getting Started
2. The U.S. and Global Economies
3. The Economic Problem
4. Demand and SupplyPART 2: A CLOSER LOOK AT MARKETS
5. Elasticities of Demand and Supply
6. Efficiency of Fairness and MarketsPART 3: HOW GOVERNMENTS INFLUENCE THE ECONOMY
7. Government Actions in Markets
8. Taxes
9. Global Markets in ActionPART 4: MARKET FAILURES AND PUBLIC POLICY
10. Externalities
11. Public Goods and Common Resources
12. Private Information and Healthcare MarketsPART 5: A CLOSER LOOK AT DECISION MAKERS
13. Consumer Choice and Demand
14. Production and CostPART 6: PRICES, PROFITS, AND INDUSTRY PERFORMANCE
15. Perfect Competition
16. Monopoly
17. Monopolistic Competition
18. OligopolyPART 7: INCOMES AND INEQUALITY
19. Markets for Factors of Production
20. Economic InequalityPART 8: MONITORING THE MACROECONOMY
21. GDP: A Measure Of Total Production and Income
22. Jobs and Unemployment
23. The CPI and the Cost of LivingPART 9: THE REAL ECONOMY
24. Potential GDP and the Natural Unemployment Rate
25. Economic Growth
26. Finance, Saving, and InvestmentPART 10: THE MONEY ECONOMY
27: The Monetary System
28: Money, Interest, and InflationPART 11: ECONOMIC FLUCTUATIONS
29. Aggregate Supply and Aggregate Demand
30. Aggregate Expenditure Multiplier
31. The Short-Run Policy TradeoPART 12: MACROECONOMIC POLICY
32. Fiscal Policy
33. Monetary Policy
34. International Financeff -
Robin Bade BioRobin Bade was an undergraduate at the University of Queensland, Australia, where she earned degrees in mathematics and economics. After a spell teaching high school math and physics, she enrolled in the PhD program at the Australian National University, from which she graduated from in 1970. She has held faculty appointments at the University of Edinburgh in Scotland, at Bond University in Australia, and at the Universities of Manitoba, Toronto, and Western Ontario in Canada.
Her research on international capital flows appears in the International Economic Review and the Economic Record. Robin first taught the principles of economics course in 1970 and has taught it (alongside intermediate macroeconomics and international trade and finance) most years since then. She developed many of the ideas found in this text while conducting tutorials with her students at the University of Western Ontario. -
Michael Parkin BioMichael Parkin studied economics in England and began his university teaching career immediately after graduating with a BA from the University of Leicester. He learned the subject on the job at the University of Essex, England's most exciting new university of the 1960s, and at the age of 30 became one of the youngest full professors. He is a past president of the Canadian Economics Association and has served on the editorial boards of the American Economic Review and the Journal of Monetary Economics.
His research on macroeconomics, monetary economics, and international economics has resulted in more than 160 publications in journals and edited volumes, including the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, the Journal of Monetary Economics, and the Journal of Money, Credit, and Banking. He is author of the best-selling textbook, Economics (Pearson), now in its 12th edition.
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