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Microeconomics: Principles for a Changing World
Sixth Edition ©2023 Eric Chiang Formats: Achieve, E-book, Print
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Authors
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Eric Chiang
Eric P. Chiang received his bachelor’s degree in economics from the University of Nevada Las Vegas and his master’s and doctorate in economics from the University of Florida. His first academic position was at New Mexico State University. Currently, Eric is an associate professor and graduate director of the Department of Economics at Florida Atlantic University. Eric also serves as the director of instructional technology for the College of Business.In 2009 Eric was the recipient of Florida Atlantic University’s highest teaching honor, the Distinguished Teacher of the Year Award. Among numerous other teaching awards, he also was named the Stewart Distinguished Professor at the College of Business. He has written over 35 articles in peer-reviewed journals on a range of subjects, including technology spillovers, intellectual property rights, telecommunications, and health care. His research has appeared in leading journals, including the Review of Economics and Statistics, Journal of Technology Transfer, and Southern Economic Journal. He is a frequent presenter at major economics conferences and at universities across the country and around the world.
As an instructor who teaches both face-to-face and online courses, Eric uses a variety of technological tools, including clickers, Web-based polling, lecture capture, and homework management systems to complement his active-learning-style lectures. As an administrator in the College of Business, Eric’s role as director of instructional technology involves assisting instructors with effectively implementing classroom technologies. In this position, Eric also ensures that the quality of online courses meets accreditation standards, including those set by the Association to Advance Collegiate Schools of Business (AACSB).
In addition to his dedication to teaching economic principles and his administrative duties, Eric devotes time to new research in economic education. His current research focuses on student learning outcomes in economics education based on the different methods of instruction in use today. The fifth edition of Economics: Principles for a Changing World embodies Eric’s devotion to economics education and the benefits of adapting to the new, often creative ways in which students learn and instructors teach.
In his spare time, Eric enjoys studying cultures and languages. He has visited all fifty U.S. states and over eighty countries, often taking long jogs in the cities he visits to experience local life to the fullest. A more quirky fact: Eric is a professional mini-golf player, having competed in both the Pro Mini Golf U.S. Open and Masters tournaments. In 2019, he was a contestant on ABC’s extreme mini-golf game show Holey Moley.
Table of Contents
Chapter 1: Exploring Economics
Chapter 2: Production, Economic Growth, and Trade
Chapter 3: Supply and Demand
Chapter 4: Markets and Government
Chapter 5: Elasticity
Chapter 6: Consumer Choice and Demand
Chapter 7: Production and Costs
Chapter 8: Perfect Competition
Chapter 9: Monopoly
Chapter 10: Monopolistic Competition, Oligopoly, and Game Theory
Chapter 11: The Labor Market
Chapter 12: Land, Capital Markets, and Innovation
Chapter 13: Externalities and Public Goods
Chapter 14: Network Goods
Chapter 15: Income Inequality and Poverty
Chapter 16: International Trade
Chapter A: Economics of Food and Agriculture
Chapter B: Economics of Health Care
Chapter C: Personal Finance and Economic Decision-Making
Product Updates
Summer 2025 Updates:
The sixth edition has been updated with new personal finance content in Achieve. The Personal Finance and Economic Decision-Making appendix gives students an overview of why personal finance matters, covers core financial literacy concepts from saving and budgeting to inflation and purchasing power, and equips students with tools for building financial freedom. Achieve offers full assessment and instructor resources for this new content.
In addition to the new appendix, content for the Economics of Food and Agriculture appendix has been refreshed and updated. This content now has a full set of assessment and resources.
Select Pre-Class Tutorial videos and Author Lecture Videos have been updated and refreshed for currency with a focus on DEI.
Spring 2025 Updates:
Achieve now features a set of new interactive graphing questions. These questions cover over 25 key Principles topics, with 2-5 questions per topic. By engaging with economic models as they work through a variety of question types, students will deepen their understanding of core principles and develop critical thinking skills.
These new questions are in the Achieve question bank, ready to be included in any assignment.
Winter 2024 Updates:
The updated Econ Math and Graphing Tutorials in Achieve bridge foundational math gaps for economics students through revamped, interactive modules featuring modern videos, algorithmically generated questions, and improved assessments designed to deepen understanding and reflection. Comprehensive accessibility features ensure that all students can effectively engage with the material.
This materials covers 10 foundational areas including Slope, Graphs, Percent Change, Ratios, Linear Equations, Averages, and more.
Sixth Edition Updates (2023):
The updated Econ Math and Graphing Tutorials in Achieve bridge foundational math gaps for economics students through revamped, interactive modules featuring modern videos, algorithmically generated questions, and improved assessments designed to deepen understanding and reflection. Comprehensive accessibility features ensure that all students can effectively engage with the material.
This set of tutorials covers 10 foundational areas including Slope, Graphs, Percent Change, Ratios, Linear Equations, Averages, and more.
Teaching large lecture courses, Erika Martinez from University of South Florida uses Chiang’s Achieve product and has joined Eric Chiang and Macmillan as a Lead Consultant on the new edition. Erika provided input on content in Achieve, instructor resources, and on content as it relates to DEI. She is on Macmillan’s Faculty Advisory Board for Achieve for Economics.
Achieve for Chiang’s Economics continues to be enhanced with new online graphing capabilities. Students will be able to engage with live economic models to see how curves, equilibria, and areas shift as inputs change. Many of the data graphs are now interactive, allowing students to strengthen their data literacy, one of the missions of the product.
Instructor Resources
Instructor Resources
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Eric Chiang | Sixth Edition | ©2023 | ISBN:9781319418243
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Eric Chiang | Sixth Edition | ©2023 | ISBN:9781319420116
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Authors
-
Eric Chiang
Eric P. Chiang received his bachelor’s degree in economics from the University of Nevada Las Vegas and his master’s and doctorate in economics from the University of Florida. His first academic position was at New Mexico State University. Currently, Eric is an associate professor and graduate director of the Department of Economics at Florida Atlantic University. Eric also serves as the director of instructional technology for the College of Business.In 2009 Eric was the recipient of Florida Atlantic University’s highest teaching honor, the Distinguished Teacher of the Year Award. Among numerous other teaching awards, he also was named the Stewart Distinguished Professor at the College of Business. He has written over 35 articles in peer-reviewed journals on a range of subjects, including technology spillovers, intellectual property rights, telecommunications, and health care. His research has appeared in leading journals, including the Review of Economics and Statistics, Journal of Technology Transfer, and Southern Economic Journal. He is a frequent presenter at major economics conferences and at universities across the country and around the world.
As an instructor who teaches both face-to-face and online courses, Eric uses a variety of technological tools, including clickers, Web-based polling, lecture capture, and homework management systems to complement his active-learning-style lectures. As an administrator in the College of Business, Eric’s role as director of instructional technology involves assisting instructors with effectively implementing classroom technologies. In this position, Eric also ensures that the quality of online courses meets accreditation standards, including those set by the Association to Advance Collegiate Schools of Business (AACSB).
In addition to his dedication to teaching economic principles and his administrative duties, Eric devotes time to new research in economic education. His current research focuses on student learning outcomes in economics education based on the different methods of instruction in use today. The fifth edition of Economics: Principles for a Changing World embodies Eric’s devotion to economics education and the benefits of adapting to the new, often creative ways in which students learn and instructors teach.
In his spare time, Eric enjoys studying cultures and languages. He has visited all fifty U.S. states and over eighty countries, often taking long jogs in the cities he visits to experience local life to the fullest. A more quirky fact: Eric is a professional mini-golf player, having competed in both the Pro Mini Golf U.S. Open and Masters tournaments. In 2019, he was a contestant on ABC’s extreme mini-golf game show Holey Moley.
Table of Contents
Chapter 1: Exploring Economics
Chapter 2: Production, Economic Growth, and Trade
Chapter 3: Supply and Demand
Chapter 4: Markets and Government
Chapter 5: Elasticity
Chapter 6: Consumer Choice and Demand
Chapter 7: Production and Costs
Chapter 8: Perfect Competition
Chapter 9: Monopoly
Chapter 10: Monopolistic Competition, Oligopoly, and Game Theory
Chapter 11: The Labor Market
Chapter 12: Land, Capital Markets, and Innovation
Chapter 13: Externalities and Public Goods
Chapter 14: Network Goods
Chapter 15: Income Inequality and Poverty
Chapter 16: International Trade
Chapter A: Economics of Food and Agriculture
Chapter B: Economics of Health Care
Chapter C: Personal Finance and Economic Decision-Making
Product Updates
Summer 2025 Updates:
The sixth edition has been updated with new personal finance content in Achieve. The Personal Finance and Economic Decision-Making appendix gives students an overview of why personal finance matters, covers core financial literacy concepts from saving and budgeting to inflation and purchasing power, and equips students with tools for building financial freedom. Achieve offers full assessment and instructor resources for this new content.
In addition to the new appendix, content for the Economics of Food and Agriculture appendix has been refreshed and updated. This content now has a full set of assessment and resources.
Select Pre-Class Tutorial videos and Author Lecture Videos have been updated and refreshed for currency with a focus on DEI.
Spring 2025 Updates:
Achieve now features a set of new interactive graphing questions. These questions cover over 25 key Principles topics, with 2-5 questions per topic. By engaging with economic models as they work through a variety of question types, students will deepen their understanding of core principles and develop critical thinking skills.
These new questions are in the Achieve question bank, ready to be included in any assignment.
Winter 2024 Updates:
The updated Econ Math and Graphing Tutorials in Achieve bridge foundational math gaps for economics students through revamped, interactive modules featuring modern videos, algorithmically generated questions, and improved assessments designed to deepen understanding and reflection. Comprehensive accessibility features ensure that all students can effectively engage with the material.
This materials covers 10 foundational areas including Slope, Graphs, Percent Change, Ratios, Linear Equations, Averages, and more.
Sixth Edition Updates (2023):
The updated Econ Math and Graphing Tutorials in Achieve bridge foundational math gaps for economics students through revamped, interactive modules featuring modern videos, algorithmically generated questions, and improved assessments designed to deepen understanding and reflection. Comprehensive accessibility features ensure that all students can effectively engage with the material.
This set of tutorials covers 10 foundational areas including Slope, Graphs, Percent Change, Ratios, Linear Equations, Averages, and more.
Teaching large lecture courses, Erika Martinez from University of South Florida uses Chiang’s Achieve product and has joined Eric Chiang and Macmillan as a Lead Consultant on the new edition. Erika provided input on content in Achieve, instructor resources, and on content as it relates to DEI. She is on Macmillan’s Faculty Advisory Board for Achieve for Economics.
Achieve for Chiang’s Economics continues to be enhanced with new online graphing capabilities. Students will be able to engage with live economic models to see how curves, equilibria, and areas shift as inputs change. Many of the data graphs are now interactive, allowing students to strengthen their data literacy, one of the missions of the product.
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Are you a campus bookstore looking for ordering information?
MPS Order Search Tool (MOST) is a web-based purchase order tracking program that allows customers to view and track their purchases. No registration or special codes needed! Just enter your BILL-TO ACCT # and your ZIP CODE to track orders.
Canadian Stores: Please use only the first five digits/letters in your zip code on MOST.
Visit MOST, our online ordering system for booksellers: https://tracking.mpsvirginia.com/Login.aspx
Learn more about our Bookstore programs here: https://www.macmillanlearning.com/college/us/contact-us/booksellers
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Our courses currently integrate with Canvas, Blackboard (Learn and Ultra), Brightspace, D2L, and Moodle. Click on the support documentation below to find out more details about the integration with each LMS.
Integrate Macmillan courses with Blackboard
Integrate Macmillan courses with Canvas
-
-
-
If you’re a verified instructor, you can request a free sample of our courseware, e-book, or print textbook to consider for use in your courses. Only registered and verified instructors can receive free print and digital samples, and they should not be sold to bookstores or book resellers. If you don't yet have an existing account with Macmillan Learning, it can take up to two business days to verify your status as an instructor. You can request a free sample from the right side of this product page by clicking on the "Request Instructor Sample" button or by contacting your rep. Learn more.
-
-
-
Sometimes also referred to as a spiral-bound or binder-ready textbook, loose-leaf textbooks are available to purchase. This three-hole punched, unbound version of the book costs less than a hardcover or paperback book.
-
-
-
Achieve (full course) includes our complete e-book, as well as online quizzing tools, multimedia assets, and iClicker active classroom manager.
Most Achieve Essentials courses do not include our e-books and adaptive quizzing.
Visit our comparison table for details: https://www.macmillanlearning.com/college/us/digital/achieve/compare
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-
-
Achieve (full course) includes our complete e-book, as well as online quizzing tools, multimedia assets, and iClicker active classroom manager.
Achieve Read & Practice only includes our e-book and adaptive quizzing, and does not include instructor resources and assignable assessments. Read & Practice does integrate with LMS.
Visit our comparison table for details: https://www.macmillanlearning.com/college/us/digital/achieve/compare
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-
-
We can help! Contact your representative to discuss your specific needs for your course. If our off-the-shelf course materials don’t quite hit the mark, we also offer custom solutions made to fit your needs.
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Microeconomics: Principles for a Changing World
Eric Chiang’s new edition of Microeconomics: Principles for a Changing World is an inviting, briefer introduction to economics that celebrates a diverse society while building a strong foundation for learning the fundamentals. In a presentation that reflects the full range of students who take the course, Chiang emphasizes data literacy, and provides a carefully integrated online package of student-focused resources. Students will quickly grasp economics concepts within a changing, global context.
Select a demo to view:
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