The Principles of Economics Textbook: 
                An Analysis of Its Past, Present & Future 
                                          by 
                                Vitali Bourchtein 
            
                      An honors thesis submitted in partial fulfillment 
                           of the requirements for the degree of 
                                  Bachelor of Science 
                                 Undergraduate College 
                           Leonard N. Stern School of Business 
                                  New York University 
                                       May 2011 
                                               
           Professor Marti G. Subrahmanyam    Professor  Simon Bowmaker 
            
           Faculty Advisor                    Thesis Advisor       
                                             Bourchtein 1 
        
       Table of Contents 
       Abstract ............................................................................................................................................4 
       Thank You .......................................................................................................................................4 
       Introduction ......................................................................................................................................5 
       Summary ..........................................................................................................................................5 
       Part I: Literature Review ..................................................................................................................6 
        David Colander – What Economists Do and What Economists Teach .......................................6 
        David Colander – The Art of Teaching Economics .....................................................................8 
        David Colander – What We Taught and What We Did: The Evolution of US Economic 
        Textbooks (1830-1930) ..............................................................................................................10 
        Mark Skousen – The Perseverance of Paul Samuelson’s Economics ........................................12 
       Part II: Methodology – Approach Taken and Books Used ............................................................15 
        Approach Taken .........................................................................................................................15 
        Books Used ................................................................................................................................16 
       Part III: Analysis ............................................................................................................................17 
        Textbook Size .............................................................................................................................17 
        Consensus Text  .........................................................................................................................18 
        Microeconomics .........................................................................................................................19 
        Supply and Demand ...................................................................................................................20 
        Macroeconomics ........................................................................................................................21 
        Aggregate Supply and Aggregate Demand ................................................................................22 
        Game Theory ..............................................................................................................................23 
        Behavioral Economics ................................................................................................................24 
        Labor Economics ........................................................................................................................26 
        Economics of the Family ............................................................................................................27 
        Law and Economics ...................................................................................................................28 
        Public Economics .......................................................................................................................29 
        Health Economics ......................................................................................................................30 
        Industrial Organization ...............................................................................................................31 
        Environmental Economics .........................................................................................................32 
                                             Bourchtein 2 
        
        Urban Economics .......................................................................................................................33 
        Race and Gender ........................................................................................................................34 
        History of Economic Thought ....................................................................................................35 
        Money and Banking ...................................................................................................................36 
        Fiscal Policy ...............................................................................................................................37 
        Economic Growth ......................................................................................................................38 
        Development Economics ............................................................................................................39 
        International Trade .....................................................................................................................40 
       Part IV: Concluding Thoughts and Future Outlook .......................................................................41 
        Summary of Findings .................................................................................................................41 
        The Future of Principles of Economics ......................................................................................43 
       Exhibit A ........................................................................................................................................45 
       Exhibit B ........................................................................................................................................46 
       Exhibit C ........................................................................................................................................47 
       Exhibit D ........................................................................................................................................48 
       Exhibit E ........................................................................................................................................49 
       Exhibit F.........................................................................................................................................50 
       Exhibit G ........................................................................................................................................51 
       Exhibit H ........................................................................................................................................52 
       Exhibit I .........................................................................................................................................53 
       Exhibit J .........................................................................................................................................54 
       Exhibit K ........................................................................................................................................55 
       Exhibit L ........................................................................................................................................56 
       Exhibit M .......................................................................................................................................57 
       Exhibit N ........................................................................................................................................58 
       Exhibit O ........................................................................................................................................59 
       Exhibit P.........................................................................................................................................60 
       Exhibit Q ........................................................................................................................................61 
       Exhibit R ........................................................................................................................................62 
       Exhibit S.........................................................................................................................................63 
                                             Bourchtein 3 
        
       Exhibit T ........................................................................................................................................64 
       Exhibit U ........................................................................................................................................65 
       Exhibit V ........................................................................................................................................66 
       Exhibit W .......................................................................................................................................67 
       Exhibit X ........................................................................................................................................68 
       Works Cited ...................................................................................................................................71