Previous edition: published as Understanding economics. 2000.
Pt. I. Introductory concepts. 1. Economic models and opportunity costs --; pt. II. Microeconomics. 2. Supply, demand and elasticity. 3. Consumer behaviour: utility. 4. Consumer behaviour: indifference analysis. 5. Production and cost. 6. Perfect competition. 7. Monopoly and monopolistic competition. 8. Oligopoly. 9. Non-profit-maximising behaviour. 10. Efficiency, externalities and public goods. 11. Labour markets --; pt. III. Macroeconomics. 12. National income. 13. Keynesianism and unemployment. 14. Investment. 15. Inflation, aggregate demand and supply. 16. Supply side behaviour: taxation. 17. Supply side behaviour: privatisation. 18. Money and banking --; pt. IV. The international economy. 19. Comparative advantage and the balance of payments. 20. Exchange rates.
This textbook presents a concise and accessible introduction to economics, making it ideal for those coming to the subject for the first time. The text provides case studies for economic problems, with full explanation and analysis.