The new seventh edition aims to teach students how economics really works in the world today. Maintaining its popular clear and unpretentious style, the new edition engages with the latest theoretical developments in economics. Its fresh new approach to modern macroeconomics reflects the latest shifts in monetary and fiscal policy in the UK, Europe and beyond.This authoritative textbook challenges the student to apply up-to-date economic theory to the real world, marrying authoritative insight with thought-provoking new boxes, current examples and stimulating questions, making economics relevant, exciting and accessible.
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David Begg is Principal of the Tanaka Business School at Imperial College London. He has been a Research Fellow of the Centre for Economic Policy Research (a network of leading European economists) since its inception in 1984. David's research focuses mainly on monetary policy, exchange rates, monetary union, and economic transition. He is a Research Fellow of the Centre for Economic Policy Research. He co-authored several of the CEPR annual reports in the series he helped found: Monitoring the European Central Bank, and Monitoring European Integration. The 1997 MEI Report, EMU: Getting the Endgame Right, changed the policy that the European Union adopted to launch the euro in 1999. He was also founding Managing Editor of Economic Policy, now an official journal of the European Economic Association.
Table of Contents
Part One: Introduction
1. Economics and the economy 2. Tools of economic analysis 3. Demand, supply, and the market
Part Two: Positive Microeconomics
4. Elasticities of demand and supply 5. Consumer choice and demand decisions 6. Introducing supply decisions 7. Costs and supply 8. Perfect competition and pure monopoly 9. Market structure and imperfect competition 10. The labour market 11. Different types of labour 12. Factor markets and income distribution 13. Risk and information 14. The information economy
Part Three: Welfare Economics
15. Welfare economics 16. Government spending and revenue 17. Industrial policy and competition policy 18. Natural monopoly: public or private?
Part Four: Macroeconomics
19: Intro to macroeconomics 20: Output and aggregate demand 21: Fiscal policy and foreign trade 22. Money and Banking 23. Interest rates and monetary transmission 24. Monetary and fiscal policy 25. Aggregate supply, prices and adjustment to shocks 26. Inflation, expectations, and credibility 27. Unemployment 28. Exchange rates and the balance of payments 29: Open economy macroeconomics 30. Economic Growth 31. Business cycles 32. Macroeconomics: taking stock
Part Five: The World Economy
33: International trade 34: Exchange rate regimes 35: European integration 36: Less developed countries
Economics by David K.H. Begg
David K.H. Begg
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McGraw-Hill Education - Europe
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