McGraw-Hill Higher Education Releases Third Edition of 'Principles of Economics' Co-Authored by New Federal Reserve Chief

McGraw-Hill Higher Education announces the release of Principles of Economics, 3rd Edition, an introduction to economics for college students by Ben S. Bernanke, the new chairman of the Federal Reserve, and Cornell University economics professor and New York Times columnist Robert H. Frank.

The co-authors adopt a teaching philosophy that features sharp focus on core principles -- reinforced by illustrating and applying each in numerous contexts. Throughout the book, students apply these principles to answer related questions and exercises. Rather than covering expansive material, which leads to less retention, this textbook is designed to help students absorb and master the basics in one or two semesters.

"The enthusiastic response of users of the first two editions confirms the success of this philosophy," said McGraw-Hill Higher Education publisher Gary Burke. "Principles of Economics, 3rd Edition, embracing the 'less is more' approach, is the most carefully thought-out and well-executed text available."

Avoiding excessive reliance on formal mathematical derivations, Principles of Economics, 3rd Edition presents concepts intuitively through examples drawn from familiar contexts. The text is organized to accommodate the broadest possible range of student learning styles and provides optional appendices that offer more detailed and challenging algebraic treatments for advanced students.

The text encourages students to become "economic naturalists," people who are engaged in the use of basic economic principles to understand and explain what they observe in the world around them.

This updated edition offers expanded discussion on important, current topics including the Federal Reserve's regulation of interest rates, international trade and outsourcing, the Chinese economy, and supply-side economics, among many others.

A variety of interactive tools for students and instructors supplement the textbook. These tools include computerized test banks, an online learning center for students with links to relevant news articles a Math Tutor application, study tips, and more.

About Ben S. Bernanke

Recently appointed chairman of the Federal Reserve, Ben Bernanke received his B.A. in economics from Harvard University in 1975 and his Ph.D. in economics from MIT in 1979. He taught at the Stanford Graduate School of Business from 1970 to 1985 and moved to Princeton University in 1985, where he served as chairman of the Economics Department. Named a member of the Board of Governors of the Federal Reserve in 2002, Bernanke became the chairman of the President's Council of Economic Advisers in 2005 and chairman of the Federal Reserve in 2006.

About Robert H. Frank

Robert Frank is the Henrietta Johnson Louis Professor of Economics at the Johnson Graduate School of Management at Cornell University, where he has taught since 1972. His "Economic Scene" column appears monthly in The New York Times. After receiving his B.S. from Georgia Tech in 1966, he taught math and science for two years as a Peace Corps volunteer. He received his M.A. in statistics and his Ph.D. in economics in 1972 from The University of California at Berkeley.

About McGraw-Hill Higher Education

McGraw-Hill Higher Education is a unit of McGraw-Hill Education, the premier provider of teaching and learning solutions for the pre-kindergarten through 12th grade, post-secondary, higher education and professional markets. It is a division of The McGraw-Hill Companies, a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation, founded in 1888, has more than 290 offices in 38 countries. Sales in 2005 were $6.0 billion. Additional information is available at http://www.mheducation.com/

SOURCE: McGraw-Hill Higher Education

CONTACT: April Hattori
McGraw-Hill Education
212 904-2078
april_hattori@mcgraw-hill.com
Tom Stanton
McGraw-Hill Education
212 904-3214
tom_stanton@mcgraw-hill.com

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