Principles of Economics 3e covers the scope and sequence of most introductory economics courses. The third edition takes a balanced approach to the theory and application of economics concepts. The text uses conversational language and ample illustrations to explore economic theories, and provides a wide array of examples using both fictional and real-world scenarios. The third edition has been carefully and thoroughly updated to reflect current data and understanding, as well as to provide a deeper background in diverse contributors and their impacts on economic thought and analysis. For example, the third edition highlights the research and views of a broader group of economists. Brief references and deeply explored socio-political examples have been updated to showcase the critical – and sometimes unnoticed – ties between economic developments and topics relevant to students.
A fuller list of changes made in Principles of Economics 3e are described in the preface and the transition guide to help instructors transition to the third edition.
The second edition of Principles of Economics by OpenStax is available in web view here.
OpenStax is retiring Principles of Microeconomics and Principles of Macroeconomics for AP 2e textbooks because they are outdated. We recommend that Advanced Placement instructors and students use the college-level textbooks.
", "content_warning_text": null, "require_login_message_text": null, "cover_url": "https://assets.openstax.org/oscms-prodcms/media/documents/Economics3e_webcard.svg", "cover_alt": null, "title_image_url": "https://assets.openstax.org/oscms-prodcms/media/documents/Economics3e_titlecard.svg", "title_image_alt": null, "cover_color": "orange", "book_cover_text_color": "grey", "reverse_gradient": false, "book_student_resources": [ { "id": 1329, "meta": { "type": "books.BookStudentResources" }, "resource_heading": "Student Getting Started Guide", "resource_description": "Congratulations! You've got a free textbook. Download this guide to learn how to use it.
Adapted from OpenStax College Success, this guide discusses effective reading approaches, study tips, and notetaking strategies for students.
", "resource_unlocked": true, "resource_icon": "https://assets.openstax.org/oscms-prodcms/media/original_images/resource_icon_2.png", "link_external": "", "link_page": null, "link_document_url": "https://assets.openstax.org/oscms-prodcms/media/documents/OpenStax.Effective.Reading.and.Notetaking.Guide_E7WFZSP.pdf", "link_document_title": "Reading and Notetaking Guide", "link_text": "Download", "coming_soon_text": null, "updated": null, "remediation_status": "", "print_link": null, "display_on_k12": true, "resource_category": "study skills guide", "hidden": false } ], "book_faculty_resources": [ { "id": 3807, "meta": { "type": "books.BookFacultyResources" }, "resource_heading": "Instructor Getting Started Guide", "resource_description": "Download our helpful guide to all things OpenStax.
These guidelines support OpenStax efforts to ensure diverse representation in the development and improvement of our materials. These guidelines can be used to develop and improve all open educational resources.
", "resource_unlocked": true, "resource_icon": "https://assets.openstax.org/oscms-prodcms/media/original_images/resource_icon.jpg", "link_external": "", "link_page": null, "link_document_url": "https://assets.openstax.org/oscms-prodcms/media/documents/OpenStax_Diversity_Equity_Inclusion_Development_Guidelines_2022_fkJcepg.pdf", "link_document_title": "OpenStax Representation and Diversity Development Guidelines", "link_text": "Download", "coming_soon_text": null, "video_reference_number": null, "remediation_status": "", "updated": null, "featured": false, "k12": false, "display_on_k12": true, "print_link": null, "resource_category": "dei guide", "hidden": false }, { "id": 3881, "meta": { "type": "books.BookFacultyResources" }, "resource_heading": "Third Edition Transition Guide", "resource_description": "This summary of the key changes from 2e to 3e is designed to assist faculty and course designers in using the new edition. It includes general and thematic changes, as well as detailed lists of revisions.
", "resource_unlocked": true, "resource_icon": "https://assets.openstax.org/oscms-prodcms/media/original_images/resource_icon.jpg", "link_external": "", "link_page": null, "link_document_url": "https://assets.openstax.org/oscms-prodcms/media/documents/OpenStax.Economics.2e.to.3e.Transition.Guide.docx", "link_document_title": "OpenStax.Economics.2e.to.3e.Transition.Guide", "link_text": "Download", "coming_soon_text": null, "video_reference_number": null, "remediation_status": "fixed", "updated": null, "featured": false, "k12": false, "display_on_k12": true, "print_link": null, "resource_category": "edition updates", "hidden": false }, { "id": 3894, "meta": { "type": "books.BookFacultyResources" }, "resource_heading": "Document Files", "resource_description": "OpenStax provides DOCX files for each section of this textbook so instructors can more easily adapt and modify the content for their courses. For more robust customization support, OpenStax Technology Partners such as Cognella Custom, ExpertTA, Great River Learning, Kendall Hunt, and LAD Custom Publishing offer content customization options. To learn more, visit our Technology Partners page and use the “Type” menu to filter for “Content customization.” These DOCX files may not be updated as frequently as the textbooks on the OpenStax website, which remains the best and most accessible way for students to access our books. Once a file is downloaded, it won't automatically receive future updates.
", "resource_unlocked": false, "resource_icon": "https://assets.openstax.org/oscms-prodcms/media/original_images/resource_icon.jpg", "link_external": "", "link_page": null, "link_document_url": "https://assets.openstax.org/oscms-prodcms/media/documents/Economics3e_docx.zip", "link_document_title": "Economics3e_docx", "link_text": "Download", "coming_soon_text": null, "video_reference_number": null, "remediation_status": "", "updated": null, "featured": false, "k12": false, "display_on_k12": true, "print_link": null, "resource_category": "course files", "hidden": false }, { "id": 3822, "meta": { "type": "books.BookFacultyResources" }, "resource_heading": "Video Guide", "resource_description": "This Video Guide is a collection of videos recommended by instructors and grouped topically by OpenStax textbook chapters.
", "resource_unlocked": false, "resource_icon": "https://assets.openstax.org/oscms-prodcms/media/original_images/resource_icon.jpg", "link_external": "https://docs.google.com/document/d/10dRhMstY-IFVlO1HQ1e2o3kUSzadDxeV3RF0JkVRtCc/edit?usp=sharing", "link_page": null, "link_document_url": null, "link_document_title": null, "link_text": "Go", "coming_soon_text": null, "video_reference_number": null, "remediation_status": "fixed", "updated": null, "featured": false, "k12": false, "display_on_k12": true, "print_link": null, "resource_category": "video resources", "hidden": false }, { "id": 3819, "meta": { "type": "books.BookFacultyResources" }, "resource_heading": "Instructor Solution Guide", "resource_description": "
The instructor solutions guide contains the instructor-facing answers to the problems and exercises within the textbook.
These lecture slides include selected graphics from the text, key concepts and definitions, examples, and discussion questions.
", "resource_unlocked": false, "resource_icon": "https://assets.openstax.org/oscms-prodcms/media/original_images/resource_icon.jpg", "link_external": "", "link_page": null, "link_document_url": "https://assets.openstax.org/oscms-prodcms/media/documents/Enhanced_Lecture_Powerpoint_Slides_-_Economics3e.zip", "link_document_title": "Enhanced Lecture Slides - Economics 3e", "link_text": "Download", "coming_soon_text": null, "video_reference_number": null, "remediation_status": "fixed", "updated": null, "featured": false, "k12": false, "display_on_k12": true, "print_link": null, "resource_category": "instructional slides", "hidden": false }, { "id": 3821, "meta": { "type": "books.BookFacultyResources" }, "resource_heading": "Test Bank", "resource_description": "The test bank is in .docx format and contains multiple choice, short answer, and essay questions for each chapter of the textbook. Since many instructors use these questions in graded assignments, we ask that you not post these questions and the answers on any publicly available websites. If you plan to use this resource in your LMS, they will need to be converted, as OpenStax currently does not have LMS-compatible files for these resources. We recommend contacting your institution’s technical support team, LMS support team, or IT administrators for assistance.
", "resource_unlocked": false, "resource_icon": "https://assets.openstax.org/oscms-prodcms/media/original_images/resource_icon.jpg", "link_external": "", "link_page": null, "link_document_url": "https://assets.openstax.org/oscms-prodcms/media/documents/Economics_3e_Test_Bank.zip", "link_document_title": "Test Bank - Economics 3e", "link_text": "Download", "coming_soon_text": null, "video_reference_number": null, "remediation_status": "fixed", "updated": null, "featured": false, "k12": false, "display_on_k12": true, "print_link": null, "resource_category": "test bank", "hidden": false }, { "id": 3854, "meta": { "type": "books.BookFacultyResources" }, "resource_heading": "Discussion Questions with Instructor Notes", "resource_description": "Mix, match, and modify these prompts to engage students and fit your course! Discussions are organized by chapter and fall into three categories: Economics and You, Economics and Policy, and Economics and Theory.
", "resource_unlocked": false, "resource_icon": "https://assets.openstax.org/oscms-prodcms/media/original_images/resource_icon.jpg", "link_external": "", "link_page": null, "link_document_url": "https://assets.openstax.org/oscms-prodcms/media/documents/Discussion_Questions_with_Instructor_Notes_Econ_3e.docx", "link_document_title": "Economics3e Discussion Questions with Instructor Notes", "link_text": "Download", "coming_soon_text": null, "video_reference_number": null, "remediation_status": "fixed", "updated": null, "featured": false, "k12": false, "display_on_k12": true, "print_link": null, "resource_category": "instructor guide", "hidden": false }, { "id": 3963, "meta": { "type": "books.BookFacultyResources" }, "resource_heading": "Course Cartridge", "resource_description": "This course cartridge will support integrating your OpenStax books and resources into common learning management systems. Download this course file and read the attached help article to import this resource into your LMS.
Access free resources integrated with your book. Sign up for an account to access locked content.
", "content_logged_in": null, "button_text": null, "button_url": null }, "id": "6880f5e6-d32b-43c4-a52d-0e1b7ef1fccf" } ], "free_stuff_student": [ { "type": "content", "value": { "id": 2, "heading": "Academic success. You've got this.", "content": "And we've got resources that will help you ace your course.
Order a personal copy
", "content_logged_in": "", "button_text": "Order a personal copy", "button_url": null }, "id": "003bdc28-56e5-44ab-a5e7-f134059574ad" }, { "type": "content", "value": { "id": 10, "heading": "Bookstore", "content": "Place a bulk order
", "content_logged_in": "", "button_text": "Place a bulk order", "button_url": "https://buyprint.openstax.org/bookstore-suppliers" }, "id": "4b4c272e-b9e6-48ae-b025-c8774dd0e607" } ], "errata_content": "All OpenStax textbooks undergo a rigorous review process. However, like any professional-grade textbook, errors sometimes occur. The good part is, since our books are web-based, we can make updates periodically. If you have a correction to suggest, submit it here. We review your suggestion and make necessary changes.", "assignable_book": true, "partner_list_label": "Technology Partners", "partner_page_link_text": "See more!", "customization_form_heading": "Customization Form", "customization_form_subheading": "Please select the modules (up to 10), that you want to customize with Google Docs.", "customization_form_disclaimer": "Disclaimer
The following features and functionality are not available to teachers and students using Google Docs customized content:
Next Steps