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Economics, 11th edition

Published by Pearson (December 15, 2021) © 2022

  • John Sloman University of Bristol
  • Dean Garratt Aston Business School
  • Jon Guest Aston Business School

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Title overview

Help your students think like an economist.

 

Economics, 11th edition by Sloman, Garratt, and Guest, is the ultimate guide to the fascinating subject of Economics, with content extensively revised and improved to reflect some of the major issues the world is facing today.

Accessible and easy to follow, the text takes an analytical and critical approach to the subject, by prompting your students to reflect on both the economic problems and opportunities it presents. A comprehensive introduction to the world of economic theory, this leading student text is the ideal support to their learning, encouraging them to adopt the economist way of thinking from theory to practice.

Hallmark Features in This Edition

  • The accessible writing style balances micro with macro content for those new to economics, providing numerous examples and questions that will test and reinforce your students' understanding of the field.
  • Chapter introductions and a map of content make your teaching plan easier to organise.
  • All economic terms are accessible, either highlighted and defined in the text or indexed.
  • The wealth of material applied in 170 boxes is ideal for class exercises, aiming to keep your students engaged by showcasing the role of economics in the real world.
  • Help your students think like an economist: the fifteen 'Threshold Concepts' help students relate economic concepts together.
  • End-of-chapter questions are included for your students to do in class or at home.

New and updated features of this title

  • Many new boxes have been included on topical and controversial issues, while the existing ones have been extensively revised. New topics include the market for vaccines, social media influencers, immigration and labour market, worker motivation and behavioural economics.
  • Further emphasis and analysis on behavioural economics, both on consumer and business levels, have been given on aspects such as present bias, prospect theory, and bias when making decisions in an uncertain environment.
  • The strengthened theoretical coverage reflects and further emphasises up-to-date developments in the field, such as the role of money and banking, debt, or balance sheets, with frequent references to the impact of the COVID-19 pandemic.
  • Updates to policy sections reflect changes since the previous edition, emphasising the protection of the environment, the regulation of businesses, and the implications of the COVID-19 pandemic on the well-being of governments.
  • Further development on macroeconomic models (IS/MP, DAD/DAS, Phillips Curve) is illustrated and reworks of the Solow model in terms of output per worker.
  • A deeper exploration of game theory and further analysis on price discrimination, externalities, and public goods, is developed throughout the book.
  • Updated tables and charts are now current as of April 2021.

Digital features

Features of Pearson eTextbook for the 11th Edition

Extend learning beyond the classroom with Pearson eTextbook – an easy-to-use digital textbook.

Deepen your understanding of economics with Economics, 11th Edition by Sloman, Garratt, and Guest, the ultimate guide to this fascinating subject.

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  • Get organised and get results. Students can customise how they study and add their own notes, bookmarks, and highlights directly in their eTextbook.
  • Reinforce and revise learning. Students can use pre-built flashcards to support recall and exam preparation.

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Table of contents

Part A INTRODUCTION

  1. 1 Economics and Economies

Part B FOUNDATIONS OF MICROECONOMICS

  1. 2 Supply and Demand
  2. 3 Government and the Market

Part C MICROECONOMIC THEORY

  1. 4 Background to Demand: the Rational Consumer
  2. 5 Consumer Behaviour in an Uncertain World
  3. 6 Background to Supply
  4. 7 Profit Maximising under Perfect Competition and Monopoly
  5. 8 Profit Maximising under Imperfect Competition
  6. 9 The Behaviour of Firms
  7. 10 The Theory of Distribution of Income

Part D MICROECONOMIC POLICY

  1. 11 Inequality, Poverty and Policies to Redistribute Income
  2. 12 Markets, Efficiency and the Public Interest
  3. 13 Environmental Policy
  4. 14 Government Policy towards Business
  5. 15 An Introduction to Macroeconomic Issues and Ideas
  6. 16 The Development of Macroeconomic Thinking: a Historical Perspective

Part F MACROECONOMIC MODELS, THEORIES AND POLICY

  1. 17 Short-run Macroeconomic Equilibrium
  2. 18 Banking, Money and Interest Rates
  3. 19 The Relationship between the Money and Goods Markets
  4. 20 Aggregate Supply, Inflation and Unemployment
  5. 21 The Relationship between Inflation, Unemployment and Output
  6. 22 Fiscal and Monetary Policy
  7. 23 Long-term Economic Growth and Supply-side Policies

Part G THE WORLD ECONOMY

  1. 24 International Trade
  2. 25 The Balance of Payments and Exchange Rates
  3. 26 Economies in an Interdependent World

Author bios

John Sloman was Director of the Economics Network from its foundation in 1999 until 2012 and is now Visiting Fellow at the University of Bristol, where the network is based. He is also Visiting Professor at the University of the West of England, Bristol.

Dean Garratt is a Senior Teaching Fellow at Aston University, having previously been a Principal Lecturer at Nottingham Business School.

Jon Guest is a Senior Teaching Fellow at Aston University and a Teaching Associate at Warwick Business School.

Discover more on our Sloman Economics news site.

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