Preliminary Economics Textbook

The Market ECONOMY 2010 EDITION
Year 11 Preliminary Economics TEXTBOOK

Authors: Tim Dixon and John O'Mahony
RRP: $45.95 ISBN: 978 4425 2464 4

Our Year 11 Economics
Text + workbook package

ISBN 971 4425 9371 8

In developing the 2010 Edition of The Market Economy, the author team has retained its focus upon being 100% syllabus-relevant and thereby totally student-focused. A major revision of the section on the Australian Industrial Relations system has been undertaken as has material on the distribution of income.

[Click here] to see the table of contents.

Special attention has also been given to providing a comprehensive glossary at the end of the text. Tim Dixon and John O’Mahony have devoted a great deal of effort to ensure that the level of language is appropriate to your Year 11 students, retaining the student-friendly focus for which this author team is known.

features IN the 2010 edition

For the 2010 edition, we have improved a number of existing features and added further features to assist students in their study of Preliminary Economics:

• many more review questions included at the end of each natural teaching break to allow students to check their understanding of key concepts and content as they work through the text
• definitions of key terms in the margin for easy reference
• the use of a second colour to highlight key features and to make it easier to identify trends in the many graphs, charts and diagrams
• clear cross-references in the text to relevant and useful websites which can be accessed directly through the Leading Edge Education website.
• A chapter on the economic skills component of the Preliminary Course. This chapter will reinforce students’ ability to apply economic skills and will give them hands-on experience with the tools they need to understand how economies operate.
• Analysis of the latest economic developments including the 2009-10 Commonwealth Budget, changes to Australia’s Industrial Relations system and recent trends in the distribution of income.
• Comprehensive revision and expansion of the Reference Glossary, providing students with clarification of 350 key economics terms and concepts.

Content Focus

• Section 1: reviews the use of diagrams in economics – how the economy as a whole and specific economic relationships can be explained and brought to life with visual tools.
• Section 2: shows students why equations are important in economics – and why they shouldn’t be scared of using a calculator!
• Section 3: focuses on economic research – how students can interpret and analyse economic data and information. It develops students’ appreciation of how economies work in the real world.

Appendix A – Key Economic Skills
The skills chapter of The Market Economy is a valuable addition to NSW’s leading Preliminary Economics textbook, giving students a great opportunity to master the 26 skills of the Preliminary Economics Course. Each section of the new chapter is structured around the skills component of the Preliminary syllabus.

• The chapter is included at the rear of textbook – it can be used by students to revise and reinforce their grasp of economic skills at the end of the course.
• You may encourage students to use the chapter as they progress through the syllabus material, or, as a basis for group work or in class activities.
• Written with Leading Edge’s plain-English approach to economics, it is a useful resource for both stronger students and those less familiar with the course.

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Table of Contents

Topic 1: Introduction to Economics
Chapter 1. What is Economics About
Chapter 2. How Economies Operate
Chapter 3. How Economies Differ

Topic 2: Consumers and Business
Chapter 4. Consumers in the Market Economy
Chapter 5. Business in the Market Economy

Topic 3: Markets
Chapter 6. Demand
Chapter 7. Supply
Chapter 8. Market Equilibrium

Topic 4: Labour Markets
Chapter 9. Labour Demand and Supply
Chapter 10. Labour Market Outcomes
Chapter 11. The Changing Australian Labour Market

Topic 5: Financial Markets
Chapter 12. The Structure of Financial Markets
Chapter 13. The Money Supply and Interest Rates
Chapter 14. The Share Market

Topic 6: Government and the Economy
Chapter 15. The Limits of Markets
Chapter 16. The Role of Government in Australia
Chapter 17. Government in Action

Appendix A: Key Economic Skills

Glossary