Description
Book SynopsisEconomics is all around us. It influences our daily lives, our society, political decisions, environmental
concerns and the future we leave for our children. The twelfth edition of Economics by David Begg and
Gianluigi Vernasca is a focused toolkit for studying economics. It enables the reader to understand how
economics underpins the world we live in, by presenting the economic theory in a clear and accessible
way and applying it to real world situations.
This new edition has been revised and updated to include the latest topics and issues, such as the role
of information and the digital economy, immigration, and globalization. This material, combined with a
rich array of pedagogical features, encourages students to understand not only our economic past and
present, but also our changing world and the way in which economics can make sense of it.
Key Features:
New chapters on “Globalization, National Sovereignty and the World Economy” and “Governing
the Market”;
Fully updated chapters, including new and expanded material on behavioural economics and
game theory;
A range of pedagogical features, including topical case studies, boxes on economic concepts
and activity applications, which show the relevance and application of the material;
A flexible learning approach allows the reader to learn at their own pace, with end of chapter
questions graded by difficulty and optional math boxes for the technically-minded;
Clean and contemporary design for ease of reading and study;
Connect® resources such as application-based activities, interactive graphs, algorithmic
questions and graphing and maths tutorials.
Available with McGraw-Hill Education’s Connect®, the well-established online learning platform, which
features our award-winning adaptive reading experience as well as resources to help faculty and
institutions improve student outcomes and course delivery efficiency.
To learn more, visit mheducation.co.uk/connect
Table of ContentsPart 1: Introduction
1. Economics and the economy
2. Tools of economic analysis
Part 2: Positive Microeconomics
3. Demand, supply and the market
4. Elasticities of demand and supply
5. Consumer choice and demand decisions
6. Choice under uncertainty and behavioural economics
7. Introducing supply decision
8. Production, costs and supply
9. Perfect competition and pure monopoly
10. Market structure and imperfect competition
11. Labour market
12. Factor markets, income distribution, and inequality
13. The economics of information
Part 3: Welfare Economics
14. Welfare economics
15. Government spending and revenue
16. Governing the market
Part 4: Macroeconomics
17. Introduction to macroeconomics
18. Supply-side economics and economic growth
19. Output and aggregate demand
20. Fiscal policy and foreign trade
21. Money, banking and financial markets
22. Money demand, interest rates and monetary transmission
23. Monetary and fiscal policy
24. Aggregate supply, prices and adjustment to shocks
25. Inflation, expectations and credibility
26. Unemployment
27. Exchange rates and the balance of payments
28. Open economy macroeconomics
29. Business cycles
Part 5: The World Economy
30. International Trade
31. Exchange rate regimes
32. Globalization, national sovereignty and the world economy
