Pandemic Economics applies economic theory to the Covid-19 era, exploring the micro and macro dimensions of the pre-pandemic, pandemic and post-pandemic phases.
Using core economic tools such as marginal analysis, cost-benefit analysis and opportunity cost, this book explores the breadth of economic outcomes from the pandemic. It shows that a trade-off between public health and economic health led to widespread problems, including virus infections and under-employment. Taking an international and comparative approach, the book shows that because countries implemented different economic policies, interventions and timelines during the crisis, outcomes varied with respect to the extent of recession, process of recovery, availability of medical equipment, public health and additional waves of the virus.
Pedagogical features are weaved throughout the text, including country case studies, key terms, suggested further reading, and discussion questions for solo or group study. On top of this, the book offers online supplements comprising PowerPoint slides, test questions, extra case studies and an instructor guide.
This textbook will be a valuable resource for advanced undergraduate and postgraduate courses on pandemic economics, macroeconomics, health economics, public policy and related areas.
Table of Contents
1 Introduction to Pandemic Economics
Part 1: Investigation and Recognition
2 Economics of Optimal Disease Control
3 Globalization, Networks, and Contagion
Part 2: The Pandemic Phase: Shutdown, Recession, and Recovery
4 Theories of Economic Shutdown
5 Macroeconomics, Recession, and Forecasting
6 Economics of Recovery
Part 3: Economic Analysis of Pandemic Outcomes
7 Healthcare Economics
8 Inequality of Outcomes
9 Energy, the Environment, and Climate Change
10 Economics of Education
11 Economics of Technology and Innovation
12 International Economic Perspectives
13 New Economic Geography
14 Game Theory and Mutual Interdependence
15 A Trail of Disruption
Thomas R. Sadler is Professor of Economics at Western Illinois University. He teaches courses on Pandemic Economics, Energy Economics, Environmental Economics. His research focuses on environmental policy, professional sports leagues, and technological change.