Economics, 12th edition

Published by Pearson (May 28, 2026) © 2026
  • John Sloman
  • Jon Guest
  • Dean Garratt

Title overview

Economics, 12th edition is a bestselling introduction to economic theory and gives insight into the constantly-changing, complex issues economists face.

This text helps students apply key concepts to real-world challenges – from international issues to a range of everyday problems that affect us all.

Also available with MyLab Economics..

Hallmark features of this title

  • Accessible structure and 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.
  • 175 boxes across the book give economic data and real applications and are ideal for class exercises, helping to keep your students engaged by showcasing the role of economics in the real world.
  • All economic terms are highlighted and defined.
  • Help your students think like an economist: the fifteen 'Threshold Concepts' help students relate economic concepts together.
  • Chapter introductions and a map of content make your teaching plan easier to organise.
  • End-of-chapter questions are included for your students to do in class or at home.
  • Optional short mathematical sections are included for more quantitatively focused courses.

“Economics has been a cornerstone text in the discipline for a generation. Grounded in the threshold concepts, it blends explanations, applications and learning activities to foster deep engagement with the subject. It remains the definitive resource for both teaching and independent study. It’s always the first book I look at when I need to clear up a concept or come up with a fresh teaching idea.”

- Dr Michael McCann, Senior Lecturer in Economics, Nottingham Business School

New and updated features of this title

  • UPDATED! New boxes include relevant, international examples and apply key economic concepts to the world around us – for example, exploring economic impacts caused by regulations, business decisions or the changing geopolitical climate.
  • UPDATED! Changes in policy are reflected throughout the book, including net zero environmental policies, the impacts globally of the second Trump administration, the effect of debt overhang from the COVID-19 pandemic, and the longer-term implications of the UK’s exit from the EU.
  • REVISED! Recent developments in the subject and theory are further emphasised and strengthened in this edition, including updated consideration of the role of money and banking and their impact on the economy.
  • UPDATED! All tables and charts have been updated, ensuring students are given the latest data as illustrations or to use in exercises.
  • EXPANDED! A greater number of additional case studies are available on the free companion website, with suggested activities.

As well as this, the regularly updated Sloman Economics News Site provides analysis on current economic issues.

Key features

Features of MyLab® Economics for the 12th Edition.

There are over 2500 exercises and questions of various forms in MyLab® that can be selected and assigned for quizzes, formative or summative work, helping you test your students’ performance in a variety of different ways.

  • Teach your course your way: Integrate MyLab seamlessly into your virtual learning environment and create a course that fits your needs – as MyLab offers you the flexibility to direct self-study, tailor assessments, track student activity and performance, and more.
  • An extensive bank of questions tailored to the content of the book includes algorithmic, graphing, multi-step and short scenario problems, allowing you to create your own formative and summative work with ease.
  • NEW! New-look interactive Reading Assignments are available for you to use or adapt, containing short readings, videos featuring economic issues, interactive features to engage students as they learn concepts, and exercises relating to the topic. Engagement with each element is tracked, allowing you to pick up any students falling behind.
  • NEW! An AI-powered Study Tool can be enabled or disabled, and offers instant help breaking down difficult questions, encouraging deeper learning.
  • Economic Experiments and regularly updated news articles in MyLab Economics promote active learning and exploration of real economic issues.

Enhance student learning with MyLab Economics

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

Part E FOUNDATIONS OF MACROECONOMICS

  1. 15 An Introduction to Macroeconomic Issues and Ideas
  2. 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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