Teaching Assistant Manual for Economics: A Contemporary
Introduction 10th Edition by William A. McEachern |
f
Instructor Guide, Chapter Resources & Teaching Notes
2026–2027
This document contains:
❖ Economics A Contemporary Introduction 10th Edition
❖ Economics 10e Teaching Assistant Manual
❖ William A. McEachern Economics
❖ Economics 2026–2027 Resources
❖ Principles of Economics Teaching Materials
❖ Economics Exam Preparation
https://www.stuvia.com/user/nursingassistant 1
, CONTENTS
Introduction .......................................................................................................................................1
1 TheArt and Science of EconomicAnalysis..........................................................................................3
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2 Economic Tools and Economic Systems ............................................................................................. 6
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3 Economic Decision Makers ...............................................................................................................9
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4 Demand, Supply, and Markets ..........................................................................................................12
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5 Elasticity of Demand and Supply ......................................................................................................15
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6 Consumer Choice and Demand ........................................................................................................18
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7 Production and Cost in the Firm ........................................................................................................21
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8 Perfect Competition .........................................................................................................................24
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9 Monopoly ........................................................................................................................................27
10 Monopolistic Competition and Oligopoly ........................................................................................30
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11 Resource Markets ............................................................................................................................33
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12 Labor Markets and Labor Unions .....................................................................................................36
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13 Capital, Interest, Entrepreneurship, and Corporate Finance .............................................................. 40
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14 Transaction Costs, Imperfect Information, and Behavioral Economics ............................................. 43
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15 Economic Regulation andAntitrust Policy .......................................................................................46
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16 Public Goods and Public Choice .......................................................................................................49
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17 Externalities and the Environment....................................................................................................52
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18 Income Distribution and Poverty ......................................................................................................55
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19 Introduction to Macroeconomics......................................................................................................58
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20 Tracking the U.S. Economy .............................................................................................................. 61
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21 Unemployment and Inflation ...........................................................................................................64
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22 Productivity and Growth ..................................................................................................................67
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23 Aggregate Expenditure and Aggregate Demand ........................................................................ 70
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, 24 Aggregate Supply ............................................................................................................................ 73
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25 Fiscal Policy .................................................................................................................................... 76
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26 Federal Budgets and Public Policy ................................................................................................... 79
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27 Money and the Financial System ...................................................................................................... 82
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28 Banking and the Money Supply........................................................................................................ 85
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29 Monetary Theory and Policy ............................................................................................................ 88
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30 Macro Policy Debate:Active or Passive? .......................................................................................... 91
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31 International Trade .......................................................................................................................... 94
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32 International Finance....................................................................................................................... 97
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33 Economic Development ................................................................................................................ 100
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AppendixA: Classroom Presentation ............................................................................................. 103
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Appendix B: Leading a Discussion................................................................................................. 111
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Appendix C: Quizzes and Exams ................................................................................................... 116
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Appendix D: Special Challenges Facing the Foreign GraduateAssistant......................................... 121
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iv
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, INTRODUCTION
Lectures represent an effective way to provide large amounts of information, but lectures are mostly one-way
f f f f f f f f f f f f f f f
communications. Since students are often reluctant to ask questions, particularly in large classes, only the looks
f f f f f f f f f f f f f f f f
on their faces and the results of exams provide the instructor with feedback. But this feedback is spo- radic,
f f f f f f f f f f f f f f f f f f f
limited, and impersonal. Thus, the instructor often has difficulty gauging how the material is being received.
f f f f f f f f f f f f f f f f
One vehicle for encouraging two-way communications is to carry on more class discussion. If the class is
f f f f f f f f f f f f f f f f
already relatively small—say, 25 or fewer students— discussion can become a regular part of the class. But
f f f f f f f f f f f f f f f f f
because principles classes are often large, these classes at some institutions are broken down into small weekly
f f f f f f f f f f f f f f f f f
sections, providing students with more individual attention, more time to discuss the material, more of an
f f f f f f f f f f f f f f f f
opportunity to ask questions, and a place to take quizzes.
f f f f f f f f f f
Although many instructors might benefit from this manual, the focus here is on smaller classes, where
f f f f f f f f f f f f f f f
discussion is possible. Sometimes these discussion sections are directed by graduate students, who are
f f f f f f f f f f f f f f
variously referred to as teaching assistants, graduate assistants, discussion leaders, or teaching fellows.
f f f f f f f f f f f f f
Whether seasoned teacher orgreen graduate student, however, each instructorfaces many of thesame chal- lenges
f f f f f f f f f f f f f f f f f
in the classroom. For some of you, this manual may provide new insights. For others it may simply remind you of
f f f f f f f f f f f f f f f f f f f f f
things you already know. As Mark Twain said “None of us is smart enough to remember all we know.” To have
f f f f f f f f f f f f f f f f f f f f f
good ideas in the classroom, we need lots of ideas. In using this manual, think of yourself as a prospector looking
f f f f f f f f f f f f f f f f f f f f f
for a few good teaching ideas.
f f f f f f
Each chapter number of this manual corresponds with a chapter in my hardback principles textbook
f f f f f f f f f f f f f f
(Economics: A Contemporary Introduction, Tenth Edition). The first 18 chapters of this manual correspond with
f f f f f f f f f f f f f f f
the first 18 chapters of the micro paperback (Microeconomics); and the final three chapters in this manual
f f f f f f f f f f f f f f f f f
correspond with the final three chapters of the Microeconomics. If you are using the macro paperback
f f f f f f f f f f f f f f f f
(Macroeconomics), Chapters 1 through 4 in this manual correspond with those same chapters in Macroeco-
f f f f f f f f f f f f f f f
nomics; Chapters 19 through 33 of this manual go with Chapters 5 through 19 in Macroeconomics; and the final
f f f f f f f f f f f f f f f f f f f
three chapters in this manual correspond with the final three chapters of the Macroeconomics. Each chap- ter in this
f f f f f f f f f f f f f f f f f f f
manualcontains(1)abriefoverview,(2)adetailedoutline,(3)chapterobjectivesandquizmaterial,
f f f f f f f f f f f f f f f f
(4)topicsforclassdiscussion,(5)warningsabouttroublespotsinthechapterthatwarrantspecialattention,
f f f f f f f f f f f f f f f f
(6)additionalexamples, and (7) some“What If?” questions.
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The appendices to this manual provide teaching assistance on (a) presenting material, (b) generating and
f f f f f f f f f f f f f f
sustaining class discussion, (c) preparing, administering, and grading quizzes, and (d) the special chal- lenges
f f f f f f f f f f f f f f f
confronting foreign graduate assistants. Even seasoned teachers may find some of this appendix material
f f f f f f f f f f f f f f
helpful.
f
Don’t forget about the other components of the teaching package that could help. The Instructor’s Manual
f f f f f f f f f f f f f f f
answers all end-of-chapter questions and offers chapter summaries and lecture guidance, including when to use
f f f f f f f f f f f f f f f
PowerPoint slides. Also available are a Study Guide, Test Bank, downloadable PowerPoint slides, computer-
f f f f f f f f f f f f f f
assisted tutorials, on-line help, and my newsletter, The Teaching Economist. Other resources include
f f f f f f f f f f f f
colleagues, newspapers, periodicals, the Internet, and your daily observations of the eco- nomics all around you.
f f f f f f f f f f f f f f f f
Most colleges also offer some sort of teaching support through reference material, teacher counseling, and
f f f f f f f f f f f f f f f
videotaping for self-appraisal. Many good books and articles have been written about college teaching. The
f f f f f f f f f f f f f f f
following is a short list of references you may find helpful:
f f f f f f f f f f f
1
https://www.stuvia.com/user/nursingassistant 4
Introduction 10th Edition by William A. McEachern |
f
Instructor Guide, Chapter Resources & Teaching Notes
2026–2027
This document contains:
❖ Economics A Contemporary Introduction 10th Edition
❖ Economics 10e Teaching Assistant Manual
❖ William A. McEachern Economics
❖ Economics 2026–2027 Resources
❖ Principles of Economics Teaching Materials
❖ Economics Exam Preparation
https://www.stuvia.com/user/nursingassistant 1
, CONTENTS
Introduction .......................................................................................................................................1
1 TheArt and Science of EconomicAnalysis..........................................................................................3
f f f f f f
2 Economic Tools and Economic Systems ............................................................................................. 6
f f f f f
3 Economic Decision Makers ...............................................................................................................9
f f
4 Demand, Supply, and Markets ..........................................................................................................12
f f f
5 Elasticity of Demand and Supply ......................................................................................................15
f f f f
6 Consumer Choice and Demand ........................................................................................................18
f f f
7 Production and Cost in the Firm ........................................................................................................21
f f f f f
8 Perfect Competition .........................................................................................................................24
f
9 Monopoly ........................................................................................................................................27
10 Monopolistic Competition and Oligopoly ........................................................................................30
f f f
11 Resource Markets ............................................................................................................................33
f
12 Labor Markets and Labor Unions .....................................................................................................36
f f f f
13 Capital, Interest, Entrepreneurship, and Corporate Finance .............................................................. 40
f f f f f
14 Transaction Costs, Imperfect Information, and Behavioral Economics ............................................. 43
f f f f f f
15 Economic Regulation andAntitrust Policy .......................................................................................46
f f f f
16 Public Goods and Public Choice .......................................................................................................49
f f f f
17 Externalities and the Environment....................................................................................................52
f f f
18 Income Distribution and Poverty ......................................................................................................55
f f f
19 Introduction to Macroeconomics......................................................................................................58
f f
20 Tracking the U.S. Economy .............................................................................................................. 61
f f f
21 Unemployment and Inflation ...........................................................................................................64
f f
22 Productivity and Growth ..................................................................................................................67
f f
23 Aggregate Expenditure and Aggregate Demand ........................................................................ 70
f f f f
iii
https://www.stuvia.com/user/nursingassistant 2
, 24 Aggregate Supply ............................................................................................................................ 73
f
25 Fiscal Policy .................................................................................................................................... 76
f
26 Federal Budgets and Public Policy ................................................................................................... 79
f f f f
27 Money and the Financial System ...................................................................................................... 82
f f f f
28 Banking and the Money Supply........................................................................................................ 85
f f f f
29 Monetary Theory and Policy ............................................................................................................ 88
f f f
30 Macro Policy Debate:Active or Passive? .......................................................................................... 91
f f f f f
31 International Trade .......................................................................................................................... 94
f
32 International Finance....................................................................................................................... 97
f
33 Economic Development ................................................................................................................ 100
f
AppendixA: Classroom Presentation ............................................................................................. 103
f f f
Appendix B: Leading a Discussion................................................................................................. 111
f f f f
Appendix C: Quizzes and Exams ................................................................................................... 116
f f f f
Appendix D: Special Challenges Facing the Foreign GraduateAssistant......................................... 121
f f f f f f f f
iv
https://www.stuvia.com/user/nursingassistant 3
, INTRODUCTION
Lectures represent an effective way to provide large amounts of information, but lectures are mostly one-way
f f f f f f f f f f f f f f f
communications. Since students are often reluctant to ask questions, particularly in large classes, only the looks
f f f f f f f f f f f f f f f f
on their faces and the results of exams provide the instructor with feedback. But this feedback is spo- radic,
f f f f f f f f f f f f f f f f f f f
limited, and impersonal. Thus, the instructor often has difficulty gauging how the material is being received.
f f f f f f f f f f f f f f f f
One vehicle for encouraging two-way communications is to carry on more class discussion. If the class is
f f f f f f f f f f f f f f f f
already relatively small—say, 25 or fewer students— discussion can become a regular part of the class. But
f f f f f f f f f f f f f f f f f
because principles classes are often large, these classes at some institutions are broken down into small weekly
f f f f f f f f f f f f f f f f f
sections, providing students with more individual attention, more time to discuss the material, more of an
f f f f f f f f f f f f f f f f
opportunity to ask questions, and a place to take quizzes.
f f f f f f f f f f
Although many instructors might benefit from this manual, the focus here is on smaller classes, where
f f f f f f f f f f f f f f f
discussion is possible. Sometimes these discussion sections are directed by graduate students, who are
f f f f f f f f f f f f f f
variously referred to as teaching assistants, graduate assistants, discussion leaders, or teaching fellows.
f f f f f f f f f f f f f
Whether seasoned teacher orgreen graduate student, however, each instructorfaces many of thesame chal- lenges
f f f f f f f f f f f f f f f f f
in the classroom. For some of you, this manual may provide new insights. For others it may simply remind you of
f f f f f f f f f f f f f f f f f f f f f
things you already know. As Mark Twain said “None of us is smart enough to remember all we know.” To have
f f f f f f f f f f f f f f f f f f f f f
good ideas in the classroom, we need lots of ideas. In using this manual, think of yourself as a prospector looking
f f f f f f f f f f f f f f f f f f f f f
for a few good teaching ideas.
f f f f f f
Each chapter number of this manual corresponds with a chapter in my hardback principles textbook
f f f f f f f f f f f f f f
(Economics: A Contemporary Introduction, Tenth Edition). The first 18 chapters of this manual correspond with
f f f f f f f f f f f f f f f
the first 18 chapters of the micro paperback (Microeconomics); and the final three chapters in this manual
f f f f f f f f f f f f f f f f f
correspond with the final three chapters of the Microeconomics. If you are using the macro paperback
f f f f f f f f f f f f f f f f
(Macroeconomics), Chapters 1 through 4 in this manual correspond with those same chapters in Macroeco-
f f f f f f f f f f f f f f f
nomics; Chapters 19 through 33 of this manual go with Chapters 5 through 19 in Macroeconomics; and the final
f f f f f f f f f f f f f f f f f f f
three chapters in this manual correspond with the final three chapters of the Macroeconomics. Each chap- ter in this
f f f f f f f f f f f f f f f f f f f
manualcontains(1)abriefoverview,(2)adetailedoutline,(3)chapterobjectivesandquizmaterial,
f f f f f f f f f f f f f f f f
(4)topicsforclassdiscussion,(5)warningsabouttroublespotsinthechapterthatwarrantspecialattention,
f f f f f f f f f f f f f f f f
(6)additionalexamples, and (7) some“What If?” questions.
f f f f f f f f
The appendices to this manual provide teaching assistance on (a) presenting material, (b) generating and
f f f f f f f f f f f f f f
sustaining class discussion, (c) preparing, administering, and grading quizzes, and (d) the special chal- lenges
f f f f f f f f f f f f f f f
confronting foreign graduate assistants. Even seasoned teachers may find some of this appendix material
f f f f f f f f f f f f f f
helpful.
f
Don’t forget about the other components of the teaching package that could help. The Instructor’s Manual
f f f f f f f f f f f f f f f
answers all end-of-chapter questions and offers chapter summaries and lecture guidance, including when to use
f f f f f f f f f f f f f f f
PowerPoint slides. Also available are a Study Guide, Test Bank, downloadable PowerPoint slides, computer-
f f f f f f f f f f f f f f
assisted tutorials, on-line help, and my newsletter, The Teaching Economist. Other resources include
f f f f f f f f f f f f
colleagues, newspapers, periodicals, the Internet, and your daily observations of the eco- nomics all around you.
f f f f f f f f f f f f f f f f
Most colleges also offer some sort of teaching support through reference material, teacher counseling, and
f f f f f f f f f f f f f f f
videotaping for self-appraisal. Many good books and articles have been written about college teaching. The
f f f f f f f f f f f f f f f
following is a short list of references you may find helpful:
f f f f f f f f f f f
1
https://www.stuvia.com/user/nursingassistant 4
