Foundations of Economics, third edition is ideal for students taking introductory economics modules as part of an interdisciplinary course. Building on the success of the second edition, the book provides accessible overviews of key economic topics, interweaving these with real-world examples and practical activities to equip students to think for themselves. Features of this edition include: Topical and up-to-date material, presented alongside real-world examples and policy problems Mini case studies taken from disciplines such as construction, sport and computing, to demonstrate the practical application of economics Increased microeconomic coverage; including separate chapters on supply, demand and markets, to provide students with a thorough grounding in these fundamental areas A revised structure to the macroeconomics section, beginning with growth, cycles, and issues, before introducing analysis and explanations Learning outcomes and recaps in each chapter, allowing students to track their progress and understanding through the text Key terms, clearly defined throughout each chapter Review questions and answers in each chapter, to test understanding and application of the topics covered An easy-to-navigate layout and design, with clearly signposted features and photos and figures to illustrate important concepts Succinctly offering the proven quality, consistency and clarity of the parent text Economics (‘The Student Bible’ BBC Radio 4), Foundations of Economics, third edition is the essential text for today’s non-specialist economics student.
Table of contents:
Preface 1 What is economics? 2 Demand 3 Supply 4 Costs, supply and perfect competition 5 Market structure and imperfect competition 6 Input markets and income distribution 7 Governing the market 8 The income and output of nations 9 Short-run fluctuations in income and output 10 Interest rates, money, and inflation 11 Aggregate supply, inflation, and unemployment 12 Exchange rates and the balance of payments 13 The global economy Answers to Questions Glossary
Table of contents:
Preface 1 What is economics? 2 Demand 3 Supply 4 Costs, supply and perfect competition 5 Market structure and imperfect competition 6 Input markets and income distribution 7 Governing the market 8 The income and output of nations 9 Short-run fluctuations in income and output 10 Interest rates, money, and inflation 11 Aggregate supply, inflation, and unemployment 12 Exchange rates and the balance of payments 13 The global economy Answers to Questions Glossary