INTRODUCTION Why Economics is Good for You 1. Economics and Economies FOUNDATIONS OF MICROECONOMICS 2. Supply and Demand 3. Government and the Market MICROECONOMIC THEORY 4. Background to Demand: the Rational Customer 5. Consumer Behaviour in an Uncertain World 6. Background to Supply 7. Profit Maximising under Perfect Competition and Monopoly 8. Profit Maximising under Imperfect Competition 9. The Behaviour of Firms 10. The Theory of Distribution of Income MICROECONOMIC POLICY 11. Inequality, Poverty and Policies to Redistribute Income 12. Markets, Efficiency and the Public Interest 13. Environmental Policy 14. Government Policy towards Business FOUNDATIONS OF MACROECONOMICS 15. An Introduction to Macroeconomic Issue and Ideas 16. The Development of Macroeconomic Thinking: A Historical Perspective MACROECONOMIC MODELS, THEORIES AND POLICY 17. Short-run Macroeconomic Equilibrium 18. Banking, Money and Interest Rates 19. The Relationship between the Money and Goods Markets 20. Aggregate Supply, Inflation and Unemployment 21. The relationship between Inflation, Unemployment and Output 22. Fiscal and Monetary Policy 23. Long-term Economic Growth and Supply-side Policies THE WORLD ECONOMY 24. International Trade 25. The Balance of Payments and Exchange Rates 26. Economies in an Interdependent World Appendix 1: Some Techniques of Economic Analysis Appendix 2: Websites Threshold Concepts and Key Ideas Glossary Index

The updated 2020/21 10th edition retains many of the popular features of the previous edition: ·    An even micro/macro split. ·    A wealth of applied material, with 177 boxes, relating economics to the real world. ·    An open learning approach, with questions incorporated into the text so as to test and reinforce students’ understanding as they progress. This makes learning a much more active process. ·    End-of-chapter questions with answers on the Companion Website ·    All economic terms highlighted in the text where they first appear and defined at the foot of that page. Each term is also highlighted in the index, so that the student can simply look up a given definition as required. ·    40 Key Ideas and 15 Threshold Concepts are highlighted throughout the book and explained when they first appear. ·    Extensive use of data, with links in the online version to general data sources and individual datasets, with many opportunities for students to explore data to help them reflect on policy choices. ·    Chapter maps at the beginning of each chapter help students to see how the chapter is structured and how the various topics relate to each other. ·    Starred sections and boxes contain more advanced material allowing the book to be used by students with different abilities and experience, and on courses of different levels of difficulty. ·    ‘Looking at the maths’ sections express a topic mathematically and support those on more quantitatively-focused courses. ·    A companion website and MyLab Economics support the text with extra case studies, audio animations, maths cases, answers to all the questions in the text and link to the frequently-updated Sloman Economics News site for students as well as a full package of teaching and learning resources, assessment and lecturer materials for lecturers.

Economics, updated 10th edition has been thoroughly revised and rewritten in many places to reflect recent developments in economic policy and practice around the world from the perspective of 2020.   Changes include: ·  Coverage of the effects of the Covid-19 pandemic on nationaleconomies and the global economy and discussion of policies to mitigate theeconomic effects of the pandemic. ·  Many new boxes on topical and controversial issues, including the secondary ticket market, the dominance of Google, the Financial Accelerator and primary surpluses/sustainable debt. ·    An increased emphasis on the role of borrowing, debt, financial markets, balance sheets and risk at the government, corporate and household levels; ·    The development of macroeconomic models, including the interaction between the IS/MP model, the DAD/DAS model and the expectations augmented Phillips curve models; ·    Increased emphasis on behavioural economics at the level of both the consumer and the firm, including the impact of present bias, loss aversion, preferences for fairness and biases when making decisions in an uncertain environment. ·    A deeper exposition of game theory and more detailed analysis of price discrimination, externalities and public goods. ·    Extensive coverage of the recent developments in money and banking and their impact on the economy. ·    All policy sections, tables, charts and references reflect the changes that have taken place since the last edition, including the implications of the Brexit vote and Trump administration, changes to the regulation of businesses and the protection of the environment, and the continuing international responses to the financial crisis and policies adopted in various countries to reduce levels of public-sector deficits and debt.