EN

ENGLISH
Models and College Notes

Principles of
Economics

FERNANDO QUIJANO
FIRST EDITION
INNOVATE PUBLISHING, Bogotá, Colombia

PREFACE

 

Principles of Economics: Models and College Notes is an exposition of the  principles of economics, written in simple  and informal language, and accompanied of excellent illustrations and supplementary material.  The book aspires to submerge the reader in a pleasant and confident environment that facilitates the endeavor to learn and think like an economist.  The textbook is rigorous in its selection of high-prestige sources, use of actual and recent data, and topics that adhere to the most relevant expressions of modern economic thinking.

The objective is to identify and explain the fundamental concepts in the intellectual formation that every economist should recognize.  Simplicity and brevity prevail over an extended treatment of the material.  The Principles are a guide in the preparation of the student for future fields of exploration.

The volume contains the principles of economics that are usually covered in two academic semesters: one in microeconomics and another in macroeconomics, presented in 10 chapters each.  The student gains an understanding of traditional neoclassical thinking, often complemented by newer contributions in the field.  The content can be organized in different ways, in accordance with different academic plans and configurations, including the elements of economics (one-semester course), economic policy, global economics and mathematical economics.

The presentation of the material is based on the author's experience in teaching college courses in economics for more than 25 years, and his direct contributions in the creation of widely recognized college textbooks in economics, as master illustrator for those publications.

The pedagogy of the textbook focuses on the profile of the student that prefers a highly visual content, concise and available in her portable device.  Accordingly, the textbook takes advantage of the ability to present economic concepts using graphs and illustrations.  Every curve in the graphs is derived from a mathematical expression, fully developed in a spreadsheet model.

The lessons explain the logic that the economist uses to understand a problem and describe it by means of an illustration.  Every concept is associated with a learning objective, developed from a clear board, and explained step by step, with definitions at the margin and carefully constructed models.

The instructor has the option to give emphasis to the conceptual or the quantitative treatment of the material.  Practice exercises at the end of each chapter include questions for reflection, research of real cases and quantitative analysis.  The content offers students the opportunity to easily reproduce economic models in a spreadsheet, which can be used for group and lab activities.  In the end, the student will have compiled a portfolio of materials highly applicable to more advanced courses, or as a resource in real-world applications.

The coverage in macroeconomics focuses on the Colombian economy, although the material can be easily adapted to the economy of other countries.  Currently, 110 countries participate in an initiative by the International Monetary Fund to consolidate the data and information necessary to understand the economy of a country.  This textbook is an effort in that direction, which takes advantage of similar or identical data available for many countries, and uses contrast and comparison to impart knowledge.

During the trajectory of this project, the author has recognized that supplementary material is as important as the textbook itself.  Accordingly, the publication offers excellent tools of instruction that include: a package of dynamic presentations in PowerPoint, solutions manual, test bank, and simultaneous reading of the material online in English or Spanish.  Future plans include the development of virtual courses and web page central, for collaboration and contributions from students and authors.

In the market today, it is difficult to find an economics textbook that fits the needs of a highly diverse, Hispanic population.  In the United States alone, there are 2.7 million Hispanic students attending college today.  In Spanish-speaking countries, similar textbooks are only translations of textbooks written for the American student, with little or no reference to the economic and cultural context of other nations.  Other textbooks written by distinguished authors about the economy of a particular country are often prolonged and complex narratives of history and facts, accompanied by low-quality, outdated illustrations.   This textbook offers a new outlook and exploits the opportunity in today's market to offer the material to a new generation of students that look for better quality in visual and didactic materials

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