Assuming no prior knowledge, the second edition of Foundations of Economics introduces students to both microeconomic and macroeconomic principles. This is the ideal text for foundation degrees and non-specialist courses for first year undergraduates.
Is there more the government could do to help the UK economy grow faster? What will happen to house prices in the future? Is competition good for consumers? An understanding of economics will not just help you to understand the world around you, it will also help you to make sense of the issues that directly affect you. Foundations of Economics is an essential introduction to the subject designed specifically with undergraduate students in mind. The author's highly accessible and engaging writing style is combined with a wealth of questions, examples, reflection points, and case studies to ensure students fully understand key topics, and are able to develop and apply their knowledge throughout. The book is divided into two clear parts to help students navigate and connect the main principles of economics. Part one focuses on microeconomics and individual markets, by analysing topics such as demand, supply, costs, competition, and the free market. This ensures students have a sound grasp of the key microeconomic theories underpinning the subject. The second part of the book then tackles macroeconomic issues and the wider economy, by exploring contemporary topics including fiscal policy, unemployment, inflation, economic growth, and international trade. The fourth edition offers increased coverage of European and international issues, including more comparative examples between the UK and other global economies and two new sections on the role of the European Central bank and on austerity. To further build the accessibility of the book more step-by-step numerical examples have been included to demonstrate the application of theory, as well as additional real-world case studies of varied lengths, including some longer end of chapter cases that enable students to test and apply their understanding in more detail. The book offers a wealth of carefully designed learning tools to build a sound knowledge of economics in a step-by-step approach. Both accessible and comprehensive, this is must-read textbook for those looking to understand more about a subject that has a real and significant impact on our day-to-day lives. Foundations of Economics is accompanied by a fully integrated Online Resource Centre, offering a range of supporting materials for students and registered lecturers. For students: - A regularly updated author's blog provides discussion of current economic issues allowing you to place your learning in context. - Revise each unit using the multiple choice questions designed to enhance your understanding and flag up any gaps in your knowledge. - Visual walkthroughs talk you through key concepts. - Additional advanced material helps you to build upon your knowledge of the topics discussed in the textbook. - Test your understanding of key micro and macroeconomics terms with the interactive flashcard glossaries. - An additional online chapter on business strategy provides material on broader business issues, such as PESTEL and SWOT analysis. - Useful web links have been included to aid research and understanding. - Comprehensive solutions to the 'put it into practice' questions. For registered lecturers: - Use the adaptable PowerPoint slides as the basis for lecture presentations, or as hand-outs in class. - A comprehensive Instructor's manual includes answers to the end-of-unit questions together with suggestions for activities, and answers to the Case Study, Put into Practice, and Economics in Context boxes. - A customizable bank of questions is available to download and test your students.
Foundations of Economics breathes life into the discipline by linking key economic concepts with wider debates and issues. By bringing to light delightful mind-teasers, philosophical questions and intriguing politics in mainstream economics, it promises to enliven an otherwise dry course whilst inspiring students to do well. The book covers all the main economic concepts and addresses in detail three main areas: * consumption and choice * production and markets * government and the State. Each is discussed in terms of what the conventional textbook says, how these ideas developed in historical and philosophical terms and whether or not they make sense. Assumptions about economics as a discipline are challenged, and several pertinent students' anxieties ('Should I be studying economics?') are discussed.
History and Theory in the Analysis of Economic Reality
Author: Walter Eucken
Publisher: Springer Science & Business Media
Category: Business & Economics
THE FIRST GERMAN edition of this book appeared in 1940. Since then the book has gone through five more editions and has been translated into Spanish and Italian. The present English translation is based on the sixth German edition. The author was Professor of Economics at the University of Freiburg, Germany. Professor Eucken was a student at a time when the Historical School dominated the teaching of econo mics at the German universities. Although, at the beginning of his career, he did some work along the lines of the Historical School, neither the ~ims nor the methods of historical research the field of economics as practised by the representatives in of the Historical School satisfied him; and the fact that the members of this school were unable to explain the causes of economic events such as the German inflation after World War I was an added reason for him to turn to economic theory. He became, among German economists, the foremost opponent of the Historical School, which he criticised in several publica tions. Through his wrItings and his teaching he contributed his share to the revival of interest in economic theory which was noticeable in the 'twenties. And he was one of the few economists left in Germany who helped to keep this interest alive during the 'thirties and during World War II. During this time he published Kapitaltheoretische Untersuchungen (1936), and the present volume, which immediately gave rise to an extensive discussion in German economic journals.
It is widely recognised that mainstream economics has failed to translate micro consistently into macro economics and to provide endogenous explanations for the continual changes in the economic system. Since the early 1980s, a growing number of economists have been trying to provide answers to these two key questions by applying an evolutionary approach. This new departure has yielded a rich literature with enormous variety, but the unifying principles connecting the various ideas and views presented are, as yet, not apparent. This 2005 volume brings together fifteen original articles from scholars - each of whom has made a significant contribution to the field - in their common effort to reconstruct economics as an evolutionary science. Using meso economics as an analytical entity to bridge micro and macro economics as well as static and dynamic realms, a unified economic theory emerges.
Piderit explores the failures of mainstream economics and proposes an alternative grounded in natural law. His assessment is grounded in the Christian higher law tradition which assumes that objective standards known to human reason should govern society and individuals. This book demonstrates both the reasonableness of a distinguished ethical tradition and its capacity to address a wide range of ethical issues, economic as well as personal and social. Piderit emphasizes that natural law theory underlies the U.S. Constitution and informs Catholic, Protestant, and Jewish worship today.
Foundations of Economics: A Christian View is an introduction to economics from an explicitly Christian perspective. It maintains that there is no conflict between Christian doctrine and economic science, properly understood. Therefore, Foundations of Economics has three goals: to demonstrate that the foundations of economic laws are derived from a Christian understanding of nature and humanity; to explain basic economic principles of the market economy and apply them to various economic problems, such as poverty and economic development; and to show the relationship between Christian ethics and economic policy. Foundations of Economics: A Christian View accomplishes these goals by rooting the fundamental principles of human action in the Christian doctrines of creation and humanity, and integrating them with the Christian ethic of private property. This volume explains the relevance of economics for fulfilling the cultural mandate set forth in the first two chapters of Genesis, by demonstrating how economics can help us in our task to be fruitful and multiply and have dominion over the earth, without spoiling creation, starving to death, or descending into a barbaric struggle for survival.