Principles of Economics in Context

Principles of Economics in Context

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Principles of Economics in Context lays out the principles of micro- and macroeconomics in a manner that is thorough, up to date, and relevant to students, attuned to the economic realities of the world around them. It offers engaging treatment of important current topics such as new thinking in behavioral economics, financial instability and market bubbles, debt and deficits, and policy responses to the problems of unemployment, inequality, and environmental sustainability. This new, affordable edition combines the just-released new editions of Microeconomics in Context and Macroeconomics in Context to provide an integrated full-year text covering all aspects of both micro and macro analysis and application, with many up-to-date examples and extensive supporting web resources for instructors and students.

Key features include:

An eye-opening statistical portrait of the United States;

Clear explanation of basic concepts and analytical tools, with advanced models presented in optional chapter appendices;

Presentation of policy issues in historical, institutional, social, political, and ethical context--an approach that fosters critical evaluation of the standard microeconomic models, such as welfare analysis, labor markets, and market competition;

Issues of human well-being, both domestic and global, are given central importance, enriching the topics and analytical tools to which students are introduced;

The theme of sustainability--financial, social, and ecological--is thoroughly integrated in the book, with chapters on alternatives to standard GDP measurement, the environment, common property, public goods, and growth and sustainability in the twenty-first century;

Full complement of instructor and student support materials online, including test banks and grading through Canvas.
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Product details

  • Hardback | 848 pages
  • 203 x 254 x 35.56mm | 1,701g
  • London, United Kingdom
  • English
  • colour illustrations
  • 0765638827
  • 9780765638823
  • 1,165,629

Table of contents

Part I. The Context for Economic Analysis 0. Economics and Well-Being 1. Economic Activity in Context 2. Useful Tools and Concepts 3. Markets and Society Part II. Basic Economic Analysis 4. Supply and Demand 5. Elasticity 6. Welfare Analysis 7. International Trade and Trade Policy Part III. Economics and Society 8. Economic Behavior and Rationality 9. Consumption and the Consumer Society 10. Markets for Labor Part IV. Essential Topics for Contemporary Economics 11. Economic and Social Inequality 12. Taxes and Tax Policy 13. The Economics of the Environment 14. Common Property Resources and Public Goods Part V. Resources, Production, and Market Organization 15. Capital Stocks and Resource Maintenance 16. Production Costs 17. Markets Without Power 18. Markets with Market Power Part VI. Macroeconomic Basics 19. Introduction to Macroeconomics 20. Macroeconomic Measurement: The Current Approach 21. Macroeconomic Measurement: Environmental and Social Dimensions 22. The Structure of the U.S. Economy 23. Employment, Unemployment, and Wages Part VII. Macroeconomic Theory and Policy 24. Aggregate Demand and Economic Fluctuations 25. Fiscal Policy 26. Money, Banking, and Finance 27. The Federal Reserve and Monetary Policy 28. Aggregate Supply, Aggregate Demand, and Inflation: Putting It All Together 29. The Global Economy and Policy Part VIII. Macroeconomic Issues and Applications 30. The Financial Crisis and the Great Recession 31. Deficits and Debt 32. How Economies Grow and Develop 33. Growth and Sustainability in the Twenty-First Century
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