Economics

Think like an economist! Economics touches almost every aspect of life, from climate change to terrorism, taxes to house prices, wages, to how much time to spend studying! Thinking like an economist will enable you to evaluate economic policies, understand human behaviour, and make more informed decisions. This comprehensive revision retains the hallmarks of previous editions, with a thorough and detailed presentation of the principles of economics and on the development of your critical thinking skills. With the addition of new features, such as At Issue and Economics in the News, this new edition uses real-world examples and applications to incorporate the latest developments in the Eurozone and UK policy. The leading economists in the news today started out like you, as students taking a course in the principles of economics. Like them, you can learn to think like an economist, and this book will show you how. New to this edition: *New feature* End-of-chapter worked problem supports ‘learning by doing’ and offers an active review of the chapter *New feature* Each chapter starts with a real problem or question which is then developed through the Economics in the News section and additional end-of-chapter questions, supporting critical thinking development *Reimagined feature* All Economics in the News sections have been updated and emphasise solid coverage of real news *Updated coverage* EU membership, healthcare, externalities, immigration, financial markets, bank regulation, the exchange rate, cycles, inflation, and deflation Michael Parkin is Professor Emeritus of the University of Western Ontario. His books are used by over a million students across the world. Melanie Powell is Reader in Economics at Derby University Business School. Kent Matthews is the Sir Julian Hodge Professor of Banking and Finance at the Cardiff Business School. Think like an economist! Economics touches almost every aspect of life, from climate change to terrorism, taxes to house prices, wages, to how much time to spend studying! Thinking like an economist will enable you to evaluate economic policies, understand human behaviour, and make more informed decisions. This comprehensive revision retains the hallmarks of previous editions, with a thorough and detailed presentation of the principles of economics and on the development of your critical thinking skills. With the addition of new features, such as At Issue and Economics in the News, this new edition uses real-world examples and applications to incorporate the latest developments in the Eurozone and UK policy. The leading economists in the news today started out like you, as students taking a course in the principles of economics. Like them, you can learn to think like an economist, and this book will show you how. New to this edition: *New feature* End-of-chapter worked problem supports ‘learning by doing’ and offers an active review of the chapter *New feature* Each chapter starts with a real problem or question which is then developed through the Economics in the News section and additional end-of-chapter questions, supporting critical thinking development *Reimagined feature* All Economics in the News sections have been updated and emphasise solid coverage of real news *Updated coverage* EU membership, healthcare, externalities, immigration, financial markets, bank regulation, the exchange rate, cycles, inflation, and deflation Author bios: Michael Parkin is Professor Emeritus of the University of Western Ontario. His books are used by over a million students across the world. Melanie Powell is Reader in Economics at Derby University Business School. Kent Matthews is the Sir Julian Hodge Professor of Banking and Finance at the Cardiff Business School.