2nd Edition
Essentials of Economics in Context
Essentials of Economics in Context is specifically designed to meet the requirements of a one-semester introductory economics course that provides coverage of both microeconomic and macroeconomic foundations. It addresses current economic challenges, paying specific attention to issues of inequality, globalization, unpaid work, technology, financialization, and the environment, making the text a genuine 21st century introduction to economics.
Aspects of history, institutions, gender, ethics, and ecology are integrated throughout the text, and economic analysis is presented within broader themes of human well-being, and social and environmental sustainability. Theoretical expositions in the text are kept close to reality by integrating numerous real-world examples and by presenting the material in the recognized accessible and engaging style of this experienced author team.
Key features include:
• a brand-new chapter devoted entirely to economic inequality
• up-to-date discussions of the impacts of the COVID-19 pandemic on labor markets, inflation and beyond
• an inclusive approach to economics, where the economy is analyzed within its social and environmental context (including a greater focus on topics outside of the US)
• a focus on goals of human well-being, stability, and sustainability, instead of solely focusing on market activities.
This text is the ideal resource for one-semester introductory economics courses globally. The book's companion website is available at: www.bu.ecu/eci/essentials
About the Authors. Preface. Acknowledgments. Sample Course Outlines. PART ONE: The Context for Economic Analysis 0. Economics and Well-Being Time Trend Graphs 1. Economic Activity in Context 2. Foundations of Economic Analysis PART TWO: Microeconomic Analysis: Consumption, Production, and Markets 3. Supply and Demand 4. Consumption and Decision Making 5. Production 6. Market Structure 7. Markets for Labor PART THREE: Macroeconomic Theory and Policy 8. Macroeconomic Measurement 9. Economic Fluctuations and Macroeconomic Theory 10. Fiscal Policy 11. Money and Monetary Policy 12. Aggregate Supply, Aggregate Demand, and Inflation: Putting it All Together PART FOUR: The Global Economy, Development, and Sustainability 13. The Global Economy and Policy 14. Economic Inequality 15. How Economies Grow and Develop 16. Economics of the Environment. Glossary. Index.
Biography
Neva Goodwin is Distinguished Fellow at the Economics in Context Initiative at Boston University’s Global Development Policy Center and Co-Director of the Global Development and Environment Institute (GDAE) at Tufts University.
Jonathan M. Harris is Visiting Scholar at the Global Development and Environment Institute (GDAE) at Tufts University and Senior Research Fellow at the Economics in Context Initiative at Boston University’s Global Development Policy Center.
Pratistha Joshi Rajkarnikar is Assistant Director of the Economics in Context Initiative at Boston University’s Global Development Policy Center and a lecturer at Boston University and Brandeis University.
Brian Roach is Director of the Theory and Education Program at the Global Development and Environment Institute (GDAE) at Tufts University and Senior Research Fellow at the Economics in Context Initiative at Boston University.
Tim B. Thornton is Senior Research Fellow at the Economics in Context Initiative at the Boston University Global Development Policy Center, USA, and Director of the School of Political Economy, Australia.
“Essentials of Economics in Context allows students to explore the fundamentals of economic theory within the real-world context of important contemporary economic issues. Students appreciate seeing the theory come to life, with applications to crucial topics like the environment, inequality, financialization, and many more pressing issues.”
—Anastasia Wilson, Assistant Professor, Hobart and William Smith Colleges.
“This is a perfect introductory text in Economics. Not only does it cover the basics that are needed for understanding modern day economics, but it also addresses critical societal issues like the environment and inequality. Including all of this in a concise textbook suitable for a one-semester course is simply brilliant.”
—Bertrand Hamaide, Professor, UCLouvain, Saint-Louis, Bruxelles, Belgium.
"This book represents the cutting edge of theory, coupled with a wealth of carefully selected real world data and case studies. Its slides, test banks and other teaching resources are easy to use. Its grounded and contextualized approach brings the material alive. Highly recommended!"
—Joris Tieleman, Chief Economist at the Center for Economy Studies.
