Basic Economics Fourth Edition
This is probably the most serious economics course that we offer. It was written by Clarence B. Carson, known for his books on history and government. Carson wrote from a conservative Christian viewpoint, with the goal of distilling ideas down to fundamental principles. Dr. Carson was a mentor of Dr. Paul Cleveland, a professor of economics, who revised and updated the book to this fourth edition.
The focus of the book is economics, but because of Carson's knowledge of history and government, the economic principles are often explained with historical examples. The book is written in a serious but readable style, with examples to illustrate the principles. The book begins with a high-level overview of man's nature, government, the Judeo-Christian foundation of the free market, and property. From this foundation, Section II gets into common topics of economics: scarcity, money, market and prices, competition and monopoly, production, the entrepreneur, distribution of wealth, and international trade. Section III blends economic principles with government history, starting with the feudal system, then to mercantilism, free enterprise, corporatism, welfarism (socialism), and communism.
Chapters average 17 pages in length, usually divided into 4 or 5 topics. Following each chapter is a two-page Study Guide to ensure a grasp of the main points. This includes a chapter summary, several "Points of Emphasis," which distill the whole chapter into a few bullet points, several review questions, a vocabulary list of 20-30 terms and activities and/or suggestions for further study. A glossary and index can be found at the end of the book.
This is a meaty course, not the "milk" of a lightweight introduction to economics, and is intended for a serious student. 378 pgs, hc. ~ Bob
- Begin at the beginning with the Dominion Mandate
- Acknowledge an intentionally created orderly universe that is guided by discoverable principles
- Learn to make the case for free markets and limited government
- Understand socialism by learning its foundations and history
- Study economics from a natural law perspective
- 8.5 x 11 format with some chapters shortened
- 100 fewer, more readable pages than 3rd ed.
- Key terms defined in margins
- Important principles summarized in pull-out boxes
- Improved Review Questions
- Bios of key individuals included where they are mentioned in the text
- At least two Getting the Point questions added per chapter, which make for great discussion starters
- Two page Study Guide at the end of each chapter that includes:
- a half page Chapter Summary
- Points of Emphasis list
- Identification Terms list
- Review Questions
- Suggested books and Articles For Further Study
This is unapologetically a different approach than the one taken by most other economics texts. The goal is to understand the universal principles that govern economic activity. These principles are the foundation for evaluating public policy proposals being put forward by politicians and the media. This course is not going to teach the math behind economic modeling that is typically covered in Common Core and the AP micro- and macroeconomics tests. Instead it will prepare students to see the limitations of it.