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Principles of Economics - California State University Instructor Open Textbook Adoption Portrait


This open textbook is being utilized in an economics course for high school students who seek college credit by Abbas P. Grammy, Ph.D. at California State University Bakersfield.

Principles of Economics covers the scope and sequence for a two-semester principles of economics course. This open textbook provides a large number of brief chapters covering both economic theory and applications. The application section covers many social issues such as poverty, inequality, discrimination, immigration, globalization, unemployment, and inflation. The main motivation to adopt an open textbook was to save money for students. Most students access the open textbook online. The text also includes many current examples, including; discussions on the great recession, the controversy among economists over the Affordable Care Act (Obamacare), the recent government shutdown, and the appointment of the United States’ first female Federal Reserve chair, Janet Yellen.

The pedagogical choices, chapter arrangements, and learning objective fulfillment were developed and vetted with feedback from educators dedicated to the project. The outcome is a balanced approach to micro and macro economics, to both Keynesian and classical views, and to the theory and application of economics concepts. Current events are treated in a politically-balanced way, as well.

Principles of Economics PDF and web view versions have been updated to include current FRED (Federal Reserve Economic) data.

Economics professor Abbas P. Grammy previously used Issues in Economics Today, by Robert C. Guell, which currently retails on Amazon for approximately $152. This course, offered only during the summer semester, has a large enrolment, of about 140 students, so the potential savings is over $21,000.

Principles of Economics is licensed under a Creative Commons License 4.0 International license. This license lets others distribute, remix, tweak, and build upon the work, even commercially, as long as they credit the author for the original creation. This is the most accommodating of licenses offered and is recommended for maximum dissemination and use of licensed materials.

Adapted from https://contentbuilder.merlot.org/toolkit/html/snapshot.php?id=99728636629627 under a CC-BY licence.