Students learn the definition of entrepreneurship and are introduced to the characteristics of entrepreneurs. Students are asked to apply these characteristics to themselves and people in their own communities by completing a story pyramid and then writing a short story that demonstrates how entrepreneurial activity can contribute to higher standards of living.

Through a story and activities, the student book introduces students to economic concepts such as saving, spending, budgeting, wants, goods, services and opportunity cost.

Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.

By the end of this section, you will be able to:

Discuss the components of economic growth, including physical capital, human capital, and technology
Explain capital deepening and its significance
Analyze the methods employed in economic growth accounting studies
Identify factors that contribute to a healthy climate for economic growth

By the end of this section, you will be able to:

Identify the role of labor productivity in promoting economic growth
Analyze the sources of economic growth using the aggregate production function
Measure an economy’s rate of productivity growth
Evaluate the power of sustained growth

By the end of this section, you will be able to:

Understand the arguments for and against requiring the U.S. federal budget to be balanced
Consider the long-run and short-run effects of a federal budget deficit

By the end of this section, you will be able to:

Analyze the growth policies of low-income countries seeking to improve standards of living
Analyze the growth policies of middle-income countries, particularly the East Asian Tigers with their focus on technology and market-oriented incentives
Analyze the struggles facing economically-challenged countries wishing to enact growth policies
Evaluate the success of sending aid to low-income countries

By the end of this section, you will be able to:

Explain crowding out and its effect on physical capital investment
Explain the relationship between budget deficits and interest rates
Identify why economic growth is tied to investments in physical capital, human capital, and technology

Are many products made in the United States anymore? As it turns out, yes. In fact, U.S. manufacturing output is near its highest level ever—and with fewer workers. How is that possible? Productivity growth. The March 2017 issue of Page One Economics describes what affects productivity, why economists are concerned about its recent slowdown, and what can be done about it.

The cost of a college education seems to be skyrocketing—but is it really? Learn about the concept of price discrimination and how it affects college costs.

Growing up means making big decisions, and decisions about college are among the most important. The second episode of the Continuing Feducation Video Series, Saving for College, follows high school student Martina as she learns about the basics: investing in human capital, factors to consider when choosing a college, and ways to fund higher education.

In this lesson, students learn about human resources, productivity, human capital, and physical capital. They participate in three rounds of a reasoning activity. From round to round they receive training and tools to help them improve their reasoning ability and thus increase their productivity. Students will then listen to a story about how the Empire State Building was built and identify examples of key concepts mentioned or shown in the book.

What skills do you need to develop for future success? Academics for sure, but soft skills are also important. Learn more about soft skills, the labor force, and unemployment in the May 2016 issue of Page One Economics: Focus on Finance.