Essentials of Economics (7^th Ed.)

In bringing economics alive and applying economic ideas and principles to the real world, the seventh edition of Essentials of Economics contains a great deal of applied material. Consequently, there have been considerable revisions from the previous editions to reflect contemporary issues, debates and policy interventions. In particular, this has meant further extensive updating of the macroeconomic chapters.

However, the exciting debates around the discipline and the teaching of economics have meant a reworking of the microeconomic chapters too. Specifically, you will find that: 
- Many of the boxes are new or extensively revised.
- There are many new examples given in the text.
- All tables and charts have been updated, as have factual references in the text.
- Economic analysis and debate has been strengthened and revised at various points in the book in light of economic events and developments in economic thinking.
- There is further discussion around behavioural economics and the insights that it offers across both the micro and macro chapters.
- We have extended the analysis throughout the book on the significance of financial well-being and balance sheets on economic choices and outcomes.
- The sections on money and banking, and fiscal and monetary policies have been further strengthened given the continuing issues around financial institutions and the state of governments’ finances.
- We have significantly extended the analysis on the euro and its future.
- All policy sections have been thoroughly revised to reflect the changes that have taken place since the last edition allowing us to consider the array of challenges that national and global policy-makers face in the 2010s.
- Most importantly, every part of the book has been carefully considered, and if necessary redrafted, to ensure both maximum clarity and contemporary relevance.

About the authors
Student and lecturer resources
Preface
Acknowledgements
Publisher’s acknowledgements

Part A - Introduction

1. Economic issues
. Chapter 1 Boxes

Part B - Microeconomics

2. Markets, demand and supply
. Chapter 2. Boxes
3. Markets in action
. Chapter 3. Boxes
. Chapter 4. Boxes
5. Market structures
. Chapter 5. boxes
6. Wages and the distribution of income
. Chapter 6. Boxes
7. Market failures and government policy
. Chapter 7. Boxes

Part C - Macroeconomics

8. Aggregate demand and the national economy
. Chapter 8. Boxes
9. Aggregate supply and growth
. Chapter 9. Boxes
10. Banking, money and interest rates
. Chapter 10. Boxes
11.  Inflation and unemployment
. Chapter 11. Boxes
12. Macroeconomic policy
. Chapter 12. Boxes

Part D - International economics

13. Globalisation and international trade
. Chapter 13. Boxes
14. Balance of payments and exchange rates
. Chapter 14. Boxes

Web appendix
Key ideas and glossary
Index