Economics, 10th Edition
©2018 |Pearson | Available
John Sloman, University of Bristol
Jon Guest, Aston Business School
Dean Garratt, Aston Business School
©2018 |Pearson | Available
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.
The 10th 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.
Economics, 10th edition has been thoroughly revised and rewritten in many places to reflect recent developments in economic policy and practice around the world.
· 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.
Why Economics is Good for You
1. Economics and Economies
FOUNDATIONS OF MICROECONOMICS
2. Supply and Demand
3. Government and the Market
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
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
Economics PowerPoints on the Web
Economics Instructor's Manual on the Web
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