The new texts, Principles of Microeconomics and Principles of Macroeconomics both treat every decision a person makes as an economic decision, making the texts more relatable, and escaping the use of hypothetical “widget” examples common in other economics textbooks. These real-life examples build on situations that students find themselves in regularly (like why they can't find parking or how to negotiate for a better raise) or will soon encounter (like how economic forces impact their wages and rent.)
The announcement of the new titles from Worth Publishers, a Macmillan Learning imprint, comes just ahead of Macmillan’s EconEd conference, where the Professors Stevenson and Wolfers will be speaking (watch via live link.)
In announcing the new texts, Macmillan Learning General Manager, Susan Winslow, trumpeted the salience of this new approach to teaching economics and the particular significance of elevating the voices of women economists in a historically male dominated field. "This is one of the most important titles that Macmillan Learning has published. The fundamentals and practical examples that Stevenson & Wolfers deliver make economics more accessible to a wider range of students, whether or not they're majoring in Economics,” said Winslow. “We're also very proud to support Betsey Stevenson's voice in what's historically been a male-dominated field."
"Economics doesn't have to be as complicated as many textbooks make it out to be, and many of us are making economic decisions every day whether we know it or not. In writing Principles of Economics, we focused on honing students' intuition so that they see themselves as economic actors, and can apply the lessons they're learning throughout their lives," said Betsey Stevenson. "Our goal is to reach every student."
"If you've ever had the pleasure of reading one of those popular economics books that takes readers on a joyous romp through our field, you quickly understand why millions of people spend their weekends reading them. Podcast rankings and best-seller lists reveal a latent demand for an approach that supplies some of the same magic. We aim to bring that sense of delight and discovery to introductory economics classes," said Justin Wolfers.
Betsey Stevenson is a professor of public policy and economics at the University of Michigan. She is also a faculty research associate at the National Bureau of Economic Research, a visiting associate professor of economics at the University of Sydney, a research fellow of the Centre for Economic Policy Research, a fellow of the Ifo Institute for Economic Research in Munich, and serves on the executive committee of the American Economic Association. She served as a member of the Council of Economic Advisers from 2013 to 2015 where she advised President Obama on social policy, labor market, and trade issues. She served as the chief economist of the U.S. Department of Labor from 2010 to 2011, advising the Secretary of Labor on labor policy and participating as the secretary's deputy to the White House economic team. She has held previous positions at Princeton University and at the University of Pennsylvania's Wharton School.
Dr. Stevenson is a labor economist who has published widely in leading economics journals about the labor market and the impact of public policies on outcomes both in the labor market and for families as they adjust to changing labor market opportunities. Her research explores women's labor market experiences, the economic forces shaping the modern family, and how these labor market experiences and economic forces on the family influence each other. She is a columnist for Bloomberg View, and her analysis of economic data and the economy are frequently covered in both print and television media.
Dr Stevenson earned a B.A. in economics and mathematics from Wellesley College and an M.A. and Ph.D. in economics from Harvard University.
Justin Wolfers is a professor of public policy and economics. He also serves as a member of the Congressional Budget Office Panel of Economic Advisers. Wolfers' research interests include labor economics, macroeconomics, political economy, social policy, law and economics, and behavioral economics. Previously, Wolfers was an associate professor of business and public policy at the University of Pennsylvania and a visiting professor at Princeton University. He is a research associate with the National Bureau for Economic Research, a senior fellow of the Brookings Institution, a senior fellow of the Peterson Institute for International Economics, a research affiliate with the Centre for Economic Policy Research in London, and an international research fellow at the Kiel Institute for the World Economy in Germany. He is also a contributing columnist with the New York Times. Justin earned a bachelor's degree in economics from the University of Sydney and his AM and PhD in economics from Harvard University.