Essentials of Economics in Context
by Neva Goodwin, Jonathan Harris, Pratistha Joshi Rajkarnikar, Brian Roach and Tim Thornton
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. Theoretical expositions in the text are kept close to reality by integrating numerous real-world examples and by presenting the material in an accessible and engaging style. The second edition has been updated to incorporate up-to-date research on topics such as behavioral economics, economic inequality, macroeconomic policy, labor economics, national accounting and environmental challenges. This new edition also places a greater emphasis on global issues, making it an excellent resource for an introductory economics course globally.
The Second Edition is now available.
Order the 2nd EditionHardback: $210.00 Paperback: $79.99 E-book: 71.99
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Student Supplements
Access student study guide, PowerPoint slides, and online appendices for the Second Edition and First Edition.
Preview the Second Edition
The Second edition has been extensively revised in response to recent developments. Hundreds of new references have been added to include the most recent research and policy debates. Also, several boxes that are no longer timely have been deleted and new boxes have been added. A special feature of this edition is an expanded discussion on topics outside the United States to highlight major international issues. A brief summary explains key features of the Second edition.
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Chapter 2: Foundations of Economic Analysis
- Updated discussion on the three spheres of economic activity
- Updated data on the relative size of the different spheres of the economy, including the informal sphere in lower-income countries
- More streamlined discussion of the different types of markets
Chapter 4: Consumption and Decision-Making
- Discussion of the most-recent research on behavioral economics, including neuroeconomics, the ultimatum game, and social trust
- Updated discussion on the social and environmental contexts of consumption, and public policies on consumption
Chapter 14: Economic Inequality
- New chapter focused entirely on economic inequality
- Extensively updated data on national and global inequality
- Updated discussion of inequality in lower-income countries
Chapter 16: Economics of the Environment
- Updated material on global climate change data and policies, including discussion of
commitments by major countries to reduce emissions - Discussion of growth limits and steady state economy
- Focus on “green” macroeconomic policy
Key features of Essentials of Economics in Context:
- An inclusive approach to economics, where the economy is analyzed within its social and environmental context
- An innovative chapter examining data on various economic indicators
- Focus on goals of human well-being, stability, and sustainability, and inclusion of core and public purpose spheres, instead of solely focusing on market activities
- A wealth of online materials such as slides, test banks, and answers to exercises in the book
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Praise for Essentials Economics in Context “Essentials of Economics in Context is a remarkable text for a one-semester principles course. It is one of the few books that not only provides a thorough explanation of neoclassical micro- and macroeconomics, but also presents dissenting theories and viewpoints in ways that encourage students to think critically about how economists can help improve economic and social wellbeing.” |
Essentials of Economics in Context, First Edition
by Neva Goodwin, Jonathan Harris, Julie Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, & Tim Thornton
Preview the Table of Contents and sample chapters:
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Chapter 2: Foundations of Economic Analysis
Chapter 4: Consumption and Decision-Making
Chapter 13: Financial Instability and Economic Inequality
Chapter 16: Economics of the Environment