The newly revised edition of Common Sense Economics will be released on August 3rd, 2010. If you are looking for a book to help teach students about the events of today’s world in a lively, rich and interactive environment, this is the book to guide you.  Tawni Ferrarini of Northern Michigan University joins James Gwartney, Rick Stroup, and Dwight Lee on the author team.   New features of this edition include:

1. Two key elements have been added to Part I: Twelve Key Elements of Economics. They are Element 6,”Prices bring the choices of buyers and sellers into balance” and Element 9, “Production of goods and services people value, not just jobs, provides the source of high living standards.”
2. New material on the Great Depression and the Economic Crisis of 2008 were integrated into Part II: Seven Major Sources of Economic ProgressBoth of these events illustrate what happens when nations get the institutions wrong and an economy becomes more politicized.
3. Several segments of Part III: Economic Progress and the Role of Governmentwere expanded to drive home how an unconstrained democracy leads to government favoritism, special interest politics, large budget deficits, the failures of transfer programs and central planning, and widespread political corruption. The final Element 10 of Part III outlines rule changes that would restore limited constitutional government.
4. For those who would like to go beyond the text, ten supplementary units have been provided. They cover topics like gross domestic product, the consumer price index, fiscal policy, monetary policy, the Economic Crisis of 2008, and the Great Depression will be available on the CommonSenseEconomics.com website. These features will make the book more valuable as a potential text in both college and high school basic economics classes.

The Common Sense Economics Preface, the Key Elements in Part I, II, III and IV of the book are available along with some the Extraordinary Acclaim for Common Sense Economics for your reading pleasure.

To help you keep current on new CSE developments and link you to discussions on innovative ways of teaching, CSE formed a Facebook group.