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Economics, 10th Edition

John Sloman, University of Bristol

Dean Garratt, Aston Business School

Jon Guest, Aston Business School

If you're an educator

If you're a student

Overview

Description

Now in its 10th edition, Economics by Sloman, Garratt & Guest is known and loved for its active learning, student-friendly approach and unrivalled lecturer and student support.

Retaining all the hall mark features of previous editions, it continues to provide a balanced, comprehensive and completely up-to-date introduction to the world of economics.

MyLab Economics not included. Students, if MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

Features

The 10^th edition retains many of the popular features of the previous edition:

· An even micro/macro split.

· A wealth of applied material, with over 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.

New to This Edition

Economics, 10^th edition has been thoroughly revised and rewritten in many places to reflect recent developments in economic policy and practice around the world.

Changes include:

· 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.

PART A

INTRODUCTION

Why Economics is Good for You

1. Economics and Economies

PART B

FOUNDATIONS OF MICROECONOMICS

2. Supply and Demand

3. Government and the Market

PART C

MICROECONOMIC THEORY

4. Background to Demand: the Rational Customer

5. Consumer Behaviour in an Uncertain World