By Michael Watts
Introduction
Command and Market Economies
Consumers in a Market Economy
Business in a Market Economy
Workers in a Market Economy
A System of Markets
Finances in a Market Economy
Government in a Market Economy
This publication was produced in cooperation with the Joint Council on Economic Education.
Consultant: Catherine Mann, Senior Staff Economist, The President's Council on Economic Advisers
Editor: Howard Cincotta
Internet Editor/Designer: Barbara Morgan
Cover and Inside Illustration: Robert Banks
About the Authors:
Michael Watts received his doctorate in economics from Louisiana State University in 1978. He is director of the Center for Economic Education and professor of Economics at Purdue University in West Lafayette, Indiana. He also serves as associate editor o
f the Journal of Economic Education. Professor Watts has published numerous empirical studies to determine how university and pre-college students learn economics, and to evaluate the effectiveness of educational programs, materials, and instructor
s. Those articles have appeared in the Review of Economics and Statistics, the Journal of Economic Education, and other journals. Dr. Watts has also written college and high school textbooks on economics.
Robert M. Dunn, Jr., is a professor of economics at The George Washington University in Washington, D.C.
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