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Economics 4th edition is a concise introduction to the core principles of economics, aimed at students taking their first, and probably only, one semester course in Economics. These students may be taking a business related degree, or may be from other degree schemes in the university taking a service course in Introductory Economics.
There is a balanced split between the micro and macro economics section and the use of case studies and numerous examples makes this a lively little book for the reader. The real difference that this book offers the student is the amount and variety of questioning material that will really test their understanding.
· Simple and clear explanations of key economic ideas make it easy for a student taking economics for the first time to get to grips with.
· Clear and well explained diagrams to aid understanding of key theories.
· Cases and exercises help students to make the connection between theory and real life as well as practice what they are learning.
THE NATURE OF ECONOMICS
1. THE SUBJECT MATTER OF ECONOMICS
PART ONE: MICROECONOMICS
2. DEMAND, SUPPLY AND MARKET EQUILIBRIUM
4. CONSUMER THEORY
5. PRODUCTION AND COSTS
6. THEORY OF THE FIRM: PERFECT COMPETITION AND MONOPOLY
7. THEORY OF THE FIRM: MONOPOLISTIC COMPETITION AND OLIGOPOLY
8. WAGES, RENT AND PROFIT
9. REGULATION, DEREGULATION AND COMPETITION
10. THE ENVIRONMENT
PART TWO: MACROECONOMICS
11. NATIONAL INCOME AND ITS DETERMINATION
12. PUBLIC EXPENDITURE, TAXATION & FISCAL POLICY
13. MONEY, FINANCIAL INSTITUTIONS AND MONETARY POLOICY
14. EXCHANGE RATES & THE BALANCE OF PAYMENTS
15. UNEMPLOYMENT AND INFLATION
16. INTERNATIONAL TRADE, INTERNATIONAL INSTITUTIONS & GLOBALISATION
17. ECONOMIC INTEGRATION & THE EUROPEAN UNION
18. GROWTH, SUSTAINABLE DEVELOPMENT & THE LESS DEVELOPED COUNTRIES
Economics, fourth edition, provides an introduction to the core principles of economics. Extensively revised, updated and redesigned, this edition continues to provide simple and clear explanations making it easy for non-specialist students taking economics for the first time, either as part of a degree or professional qualification, to get to grips with the main concepts, theories and applications of macro and micro economics.
Completely redesigned, the fourth edition includes the following key features.
· Learning objectives to start, and key points to end, provide a framework for learning.
· Pause for thought boxes stimulate thinking and discussion.
· Boxed examples and mini case studies (with questions) relate the theory to real-world situations.
· Key terms in the margins provide clear definitions in context.
· A wealth of progress and review questions including MCQs, data response questions, true/false questions and essay questions for students to test their own understanding.
· Major case studies with questions to consolidate learning.
· Further reading and web references provide guidance for those wanting to extend their knowledge in each topic area.
· Answers to some questions appear at the end of the book while others can be accessed on the companion website.
· New chapters on the European Union and on the Economics of Developing Countries provide a topical update.
Access www.pearsoned.co.uk/ison for guidance on pause for thoughts, essay question advice, responses to case studies, and answers to progress and review questions.
Stephen Ison is a Senior Lecturer in Transport Studies within the Transport Studies Group, Department of Civil and Building Engineering at Loughborough University.
Stuart Wall is Professor of Business and Economics Education in the Ashcroft International Business School, Anglia Ruskin University