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
UNITED
STATES INFORMATION AGENCY
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.
