Talk:Principles of Economics

Dear Contributing Author
''Welcome! I'll get right to business, this text is designed to be a comprehensive and easy-to-read text on economics for the beginner. That's not to say that this text is watered-down or dumbed-down in any way. The goal is to create a rich text that is approachable for individuals with NO economic background. In other words, this text should be the ideal for introducing students to economics and possess enough material to validate it as a strongly comprehensive representation of economic knowledge. But, we want to keep it basic. This means:''


 * assume no previous economics knowledge
 * assume no extensive mathematical background
 * i.e. explain thoroughly math tools and concepts(see the note on math below)

''That's really it for the serious stuff regarding this text. If you have questions please ask other contributors; otherwise read on for more information about how I think we ought to organize this text.''

Thank you!

- Yunzhong Hou - Main Author and Illustrator

- Endless melee - Initial Author

Comprehensive
Principles of Economics is designed to be a very competitive text on economic theory. That is, a text designed to compete with expensive economics textbooks widely used in universities for introductory or lower-division economics courses. But the scope of Basic Economics will hopefully extend beyond that of those texts and become the best text available as an introduction to economics.

In order to achieve this effect, Principles of Economics must be very comprehensive. It should include all but the most specific and more difficult of economic facets and detail them on a basic level. The idea is to introduce the concepts in such a way that the student/reader can choose to pursue further study on the material presented in other, more advanced texts, or if they do not choose to do so, they will still walk away with an improved and useful understanding of that material.

Bottome Line: introduce economic material. Introduce A LOT of economic material. Make it simple and useful. Period.

Mathematics
Because Principles of Economics is an introductory text to the field, we are going to assume a multitude of readers, some with heavy mathematical backgrounds and some without. The way we ought to handle this dilemma by introducing concepts initially on a basic and math-friendly level and then gradually explaining them in greater detail and with more complex math models later on so that novice economists and expert economists can both take something away from Principles of Economics. I also think Principles of Economics ought to possess a dedicated math appendix that will cover the most basic algebra concepts on through calculus and (hopefully) linear algebra as applied to economic models, especially those presented in the text. Also, we are free to assume that the reader is highly proficient in elementary math, graphical mathematics and the Cartesian coordinate system.

It wouldn't be out of the question, however, to include in the dedicated math appendix some refreshers on graphing along with the algebra. Furthermore, some basic calculus could be explained in an advanced section of the math appendix, but this should only be included when the time comes that it is essential to include it.

Bottom Line: Math is the economist's friend. So let's make sure that we can provide mathematical applications that will enlighten both the math-prone and the math-averse.

Making Contributions
One aspect that Wikibooks can allow for over other wikis is the ability to rephrase things in different ways so as to enhance the reader's understanding. Basically I think it's a good idea to add onto topics if you think you can phrase it in a way that will compliment the current material. I really don't think chopping up and revising a topic until it fits nicely into a three-sentence synopsis that explicitly defines the subject in a manner that only makes sense to those already familiar with the concept does much of anything but embellish the pride of the savvy and alientate the curious students without any knowledge of the subject. That is to say:
 * If you think a concept is discussed on too-basic a level, add a section (preferably near the bottom) for more advanced students
 * If you think a concept is discussed on too-advanced a level, add a section (preferably near the top) for more novice students

Study Materials
Principles of Economics should be no different than its non-gratis counterparts in that it should contain helpful study materials like:
 * end of chapter summary
 * practice questions
 * practice tests
 * real-world examples and applications
 * chapter objectives
 * key terms
 * quality diagrams

It would also be great to have some solid real-world data, but this can be time-consuming to gather and organize so is not as expected as the other tools, but it is however equally, if not more, desired. As long as we have some tools for the student and they are, above all things, consistent from chapter to chapter, then Principles of Economics ought to have a worthwhile chance contending in the market for introductory economics textbooks.

Bottom Line: while the study enhancement materials are second to the actual content, they are an important component and should be utilized uniformly.

Your Thoughts
Got something to say or have a suggestion? Post it here!

Back to Contents

Remove template?
Should we remove the template from the modules of this book? I assume we should, and that no one has taken the time. Is there a good reason we are using it here? Thanks, --Jcarroll (talk) 04:25, 23 December 2008 (UTC)

Orphaned page
Principles of Economics/Quota is not linked to by this book. Please link to it, merge it and mark it with, or mark it for deletion with. -- Adrignola talk contribs 15:59, 7 August 2009 (UTC)

Chapter structure
Will this book have a traditional 'section/chapter' structure? Right now most of the content seems loosely organized under 'models', not as a progressive developmental text book. Would the primary maintainer welcome reorganization? Jcress410 (discuss • contribs) 01:42, 6 April 2011 (UTC)

how could we get an compiled doc or pdf version of the book?

Chapter Texts
It's best when it's chaptered, I think...

We Need a Unit/Chapter Organization System
Although I don't always agree with the consensus on tradition before change, I felt a traditional chapter/unit categorization system will work best for this book. Right now, I noticed that the section on Production Possibility Frontier is an extension of the Specialization and Gains from Trade page rather than what comes before. As a result, I found myself having to explain the PPF to the reader when it should have been explained before that page. Can the organizer, please, use a unit/chapter system instead of this?

Musical Inquisit (discuss • contribs) 09:01, 12 July 2019 (UTC)

Economics
Theory of demand and supply 197.250.197.243 (discuss) 11:40, 8 August 2022 (UTC)