Economics 13e

Discover how the dynamic world of economics influences our daily lives, society, political decisions and environmental concerns. This thirteenth edition of Economics by David Begg, Gianluigi Vernasca, Eric Golson and Bridget Kauma, supports students understanding of economics by blending foundational principles with contemporary issues and applications.
Covering the latest economic topics, such as the global implications of war, the effects of macro-inflation and the role of AI in the labour market this new edition provides a thorough and insightful exploration that fosters critical thinking and informed decision-making. Perfect for anyone looking to deepen their economic knowledge and apply it effectively.

Key Features:
.Up to date insights: Fully updated chapters, including new material on AI, the continued impact of COVID-19 on consumer's confidence and expanded material on climate change.
.Engaging pedagogy: Across each chapter, theory is met with topical case studies, boxes on economic concepts and activity applications, showcasing the relevance and application of the material.
.Flexible learning: Economics is written with the reader in mind to allows students to learn at their own pace. End of chapter questions are graded by difficulty and math boxes are optional for technical ability to be scaffolded.
.Expert authors: Written by renowned economists with extensive experience in academia and practice.
.Digital material: A wealth of online resources including adaptive learning technology, application-based activities, graphing and maths prep, question banks and a full suite of instructor resources.


David Begg is Emeritus Professor of Economics at Imperial College London, and former Principle of the Business School. He is a fellow of the Royal Society of Edinburgh, a fellow of the City and Guilds of London Institute and senior independent director of IP Group, which invests in technology start-ups from leading universities in the UK, the US, and Australasia.


Gianluigi Vernasca is Professor of Economics at the University of Essex. Since October 2013 he has also been Director of Education in the Department of Economics. He is Senior Fellow of the Higher Education Academy and has taught economics at both undergraduate and postgraduate levels in various institutions.


Eric Golson is an Associate Professor of Economics at the University of Surrey, specializing in economic warfare and international political economy. His research includes trade warfare, economic sanctions, and military spending. An award-winning educator and advocate for diversity, he has published extensively and holds degrees from the London School of Economics and the University of Chicago.


Bridget Kauma is a Lecturer in Economics at the University of Sussex, where is also the Course Director for the BA Economics. Bridget is a fellow of the Higher Education Academy and teaches Economics at both the undergraduate and postgraduate levels. She received her PhD from the University of Sussex in 2022. Her research interests are in international trade with a particular emphasis on the intersection between productivity and labour markets. Prior to joining the academia Bridget worked as Chief Trade Officer in the Ministry of Trade in Malawi.

PART ONE Introduction

1 Economics and the economy

2 Tools of economic analysis

PART TWO Positive microeconomics

3 Demand, supply and the market

4 Elasticities of demand and supply

5 Consumer choice and demand decisions

6 Choice under uncertainty and behavioural economics

7 Introducing supply decision

8 Production, costs and supply

9 Perfect competition and pure monopoly

10 Market structure and imperfect competition

11 Labour market

12 Factor markets, income distribution, and inequality

13 The economics of information

PART THREE Welfare economics

14 Welfare economics

15 Government spending and revenue

16 Governing the market

PART FOUR Macroeconomics

17 Introduction to macroeconomics

18 Supply-side economics and economic growth

19 Output and aggregate demand

20 Fiscal policy and foreign trade

21 Money, banking and financial markets

22 Money demand, interest rates and monetary transmission

23 Monetary and fiscal policy

24 Aggregate supply, prices and adjustment to shocks

25 Inflation, expectations and credibility

26 Unemployment

27 Exchange rates and the balance of payments

28 Open economy macroeconomics

29 Business cycles

PART FIVE The world economy

30 International trade

31 Exchange rate regimes

32 Globalization, national sovereignty and the world economy

Appendix: Answers to activity and maths questions

Glossary

Index