OpenStax College, Rice University: On-line Principles of Economics TextOpenStax College, Rice University: On-line Principles of Economics Text

Building upon the development of quality textbooks for large enrollment college courses such as biology and psychology, OpenStax made an application and received funding to develop an on-line text book for both introductory micro- and macro-economic classes. The basis of the text is an introductory principles book written by Tim Taylor.  A writing team helped update the text adding interactive video and supporting materials as well as additional problem sets. 

 First released in 2014, the text is gaining wide adoption among a variety of two- and four-year institutions.  Because it is an on-line book, it can be easily updated with video, print and other on-line information.  Because OpenStax College is supported by a several foundations, including Gates and Hewlett Packard, the books are free of charge to all students.  PDF copies can be ordered for a minimal amount and a hard-cover version is available as well.

The success of  the text prompted OpenStax to develop a special version of the economics textbook for high school Advanced Placement economics courses.  Working closely with the College Board, OpenStax is modifying the text by adding learning objectives for each chapter.  It will also add "transfer goals" that encourage students to idenfity the assumptions and limitations of economic models. OpenStax will also provide practice tests so to help students better prepare for the AP test.