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  • © 2012

The New World of Economics

A Remake of a Classic for New Generations of Economics Students

  • When published in its first edition in the 1970s, The New World of Economics was adopted practically everywhere

  • Professors have adopted TNW because they did not have to force students to read it -they want to read it

  • The book addresses economic issues in a style more appropriate for the college market, at a slightly higher level of sophistication, and with graphs (which professors will like)

  • Includes supplementary material: sn.pub/extras

Buying options

eBook USD 84.99
Price excludes VAT (USA)
  • ISBN: 978-3-642-27364-3
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Softcover Book USD 109.99
Price excludes VAT (USA)

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Table of contents (26 chapters)

  1. Front Matter

    Pages i-xviii
  2. The New World of Economic Thinking

    1. Front Matter

      Pages 1-1
    2. Economic Thinking

      • Richard B. McKenzie, Gordon Tullock
      Pages 3-23
    3. Anything Worth Doing Is Not Necessarily Worth Doing Well

      • Richard B. McKenzie, Gordon Tullock
      Pages 25-42
    4. Maslow’s Hierarchy of Needs and Economist’s Demand

      • Richard B. McKenzie, Gordon Tullock
      Pages 43-49
  3. The New World of Market Economics

    1. Front Matter

      Pages 51-51
    2. Price and the “Law of Unintended Consequences”

      • Richard B. McKenzie, Gordon Tullock
      Pages 53-68
    3. Pricing Lemons, Views, and University Housing

      • Richard B. McKenzie, Gordon Tullock
      Pages 69-90
    4. Markets and More Markets

      • Richard B. McKenzie, Gordon Tullock
      Pages 91-106
  4. The New World of Personal Economics

    1. Front Matter

      Pages 107-107
    2. Marriage, Family, and Divorce

      • Richard B. McKenzie, Gordon Tullock
      Pages 109-122
    3. Sexual Behavior

      • Richard B. McKenzie, Gordon Tullock
      Pages 123-141
    4. Exploitation of Affection

      • Richard B. McKenzie, Gordon Tullock
      Pages 143-150
    5. Dying: The Most Economical Way to Go!

      • Richard B. McKenzie, Gordon Tullock
      Pages 151-152
    6. Cheating and Lying

      • Richard B. McKenzie, Gordon Tullock
      Pages 153-165
    7. Fat Economics

      • Richard B. McKenzie, Gordon Tullock
      Pages 167-198
  5. The New World of Pricing Strategies

    1. Front Matter

      Pages 199-199
    2. Why Sales

      • Richard B. McKenzie, Gordon Tullock
      Pages 201-217
    3. Why Popcorn Costs So Much at the Movies

      • Richard B. McKenzie, Gordon Tullock
      Pages 219-234
    4. Why So Many Coupons

      • Richard B. McKenzie, Gordon Tullock
      Pages 235-243

About this book

The New World of Economics, 6th edition, by Richard McKenzie and Gordon Tullock, represents a revival of a classic text that, when it was first published, changed substantially the way economics would be taught at the introductory and advanced levels of economics for all time.  In a very real sense, many contemporary general-audience economics books that seek to apply the “economic way of thinking” to an unbounded array of social issues have grown out of the disciplinary tradition established by earlier editions of The New World of Economics. 

This new edition of The New World will expose new generations of economics students to how McKenzie and Tullock have applied in a lucid manner a relatively small number of economic concepts and principles to a cluster of topics that have been in the book from its first release and to a larger number of topics that are new to this edition, with the focus of the new topics on showing students how economic thinking can be applied to business decision making.  This edition continues the book’s tradition of taking contrarian stances on important economic issues.  Economics professors have long reported that The New World is a rare book in that students will read it without being required to do so.

Keywords

  • Contrarian Economics
  • Coupons
  • Economic Thinking
  • Microeconomics
  • Pricing

Authors and Affiliations

  • Paul Merage School of Business, University of California, Irvine, Irvine, USA

    Richard B. McKenzie

  • Law & Economics Center, George Mason University, Arlington, USA

    Gordon Tullock

About the authors

Richard McKenzie is the Walter B. Gerken Professor of Economics and Management at the Merage School of Business, University of California, Irvine. He has written over thirty academic and general-audience books. He is also co-author with Dwight Lee of a widely used textbook, Microeconomics for MBAs: The Economic Way of Thinking for Managers. His book with Gordon Tullock, The New World of Economics, has been used over the years in most of the country’s leading colleges and universities and has been translated into several languages. Professor McKenzie’s most recent general-audience book is HEAVY! - The Surprising Reasons America Is the Land of the Free — And the Home of the Fat.

Gordon Tullock is a University Professor (Emeritus) of Law and Economics and Distinguished Research Fellow at the James M. Buchanan Center for Political Economy, George Mason University. He is one of the founders of public choice economics and has done pioneering work in the political economy of rent seeking, as well as any number of economic subdisciplines that emerged during his long academic career.  His book The Calculus of Consent, which he coauthored with James Buchanan, is a widely acknowledged classic in economics, first published a half-century ago.

Bibliographic Information

  • Book Title: The New World of Economics

  • Book Subtitle: A Remake of a Classic for New Generations of Economics Students

  • Authors: Richard B. McKenzie, Gordon Tullock

  • DOI: https://doi.org/10.1007/978-3-642-27364-3

  • Publisher: Springer Berlin, Heidelberg

  • eBook Packages: Business and Economics, Economics and Finance (R0)

  • Copyright Information: Springer-Verlag GmbH Germany, part of Springer Nature 2012

  • Softcover ISBN: 978-3-642-27363-6

  • eBook ISBN: 978-3-642-27364-3

  • Edition Number: 6

  • Number of Pages: XVIII, 559

  • Number of Illustrations: 28 b/w illustrations

  • Additional Information: Original 5th edition published by Mcgraw-Hill College, 1994

  • Topics: Economics, Microeconomics, Social Policy

Buying options

eBook USD 84.99
Price excludes VAT (USA)
  • ISBN: 978-3-642-27364-3
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Softcover Book USD 109.99
Price excludes VAT (USA)