Economics

Series
Financial Times
Author
Ken Heather  
Publisher
Pearson
Cover
Softcover
Edition
4
Language
English
Total pages
540
Pub.-date
November 2003
ISBN13
9780273679844
ISBN
0273679848
Related Titles


Product detail

Product Price CHF Available  
9780273679844
Economics
91.80 approx. 7-9 days

Description

Economics: Theory in Action (previously Understanding Economics) is particularly relevant for non-specialist students taking an introductory course in economics, whether as part of a business studies degree or any other course of study requiring a grounding in economics. The unique case based approach means it is also suitable as a supplementary text for specialist Economics courses, particularly for seminar work.
Economics: Theory in Actionbrings the fascinating subject of economics alive, addressing current and often controversial issues that have a great effect upon us all, including: Why does government worry about inflation? What is a fair wage? Is the Euro a good idea? The state of the Health Service, etc.

This text adopts a unique, case-study approach with each of the twenty cases carefully chosen to build up an understanding of economic analysis, showing how economic theory relates to the real world. For example Supply, Demand and Elasticity is discussed with the help of the case 'The stock market: a quick way to riches or poverty?' and Oligopoly is covered with the help of the case 'Europe's airline prices: the sky's the limit?'

Building on the strength of previous editions, the fourth edition has been substantially revised to reflect the changes that have occurred in the past few years. All 20 chapters of the book have been updated to reflect these changes and the new edition covers the implications of September 11th, the acceptance of former communist societies into the European Union, the Euro, etc.

Features

  • Case-study approach allows students to see the immediate application of theoretical material to real world examples and problems.
  • Balanced coverage of microeconomic and macroeconomic issues.
  • End-of-chapter discussion questions and key results summary boxes reinforce learning.
  • Comprehensive glossary.

New to this Edition

  • More European examples and cases.
  • Greater European focus with more European examples to illustrate cases and one new European/Middle Eastern case.
  • Clearer and simpler explanations of diagrams and figures.
  • Improved Supplements - Website includes a solutions manual, weblinks and descriptions, 'Self help' disk, etc.

Table of Contents

List of Applications
Preface
Approach to the Fourth Edition
A Word to the Student
A Word to the Instructor
Acknowledgements
PART I: INTRODUCTORY CONCEPTS
1 Economic Models and Opportunity Cost
East European economic reforms: the road to freedom?
PART II: MICROECONOMICS
2 Supply, Demand and Elasticity
The stock market: a quick way to riches or poverty?
3 Consumer Behaviour: Utility
Traffic jams: could European cities import a solution from Singapore
4 Consumer Behaviour: Indifference Analysis
The health care systems: is radical treatment needed?
5 Production and Cost
Europe's regional problems: why so depressing?
6 Perfect Competition
Small: is small beautiful?
7 Monopoly and Monopolistic Competition
The price of oil: does OPEC hold the West to ransom?
8 Oligopoly
Europe's airline prices: the sky's the limit?
10 Efficiency, Externalities and Public Goods
Government expenditure: is the money efficiently spent?
11 Labour Markets
Trade unions: labour market manipulators?
PART III: MACROECONOMICS
12 National Income
Damaging the Earth: how much does it really matter?
13 Keynesianism and Unemployment
Unemployment: what can the government do?
14 Investment
Saving for the future: how much should we invest
15 Inflation, Aggregate Demand and Supply
Beating inflation: is it really worth it?
16 Supply Side Behaviour: Taxation
Taxes and benefits: a just and fair society?
17 Supply Side Behaviour: Privatisation
Privatisation: a supply side improvement?
18 Money and Banking
Running the economy: an independent central bank?
PART IV: THE INTERNATIONAL ECONOMY
19 Comparative Advantage and the Balance of Payments
Manufacturing trade: not made in Britain?
20 Exchange Rates
Giving up sterling: too high a price to pay?
21 Afterword
An Overview of the Economic System
APPENDICES
Appendix 1 Guide to Sources of Information
Appendix 2 Sources of Information on Share Prices
Appendix 3 Measuring the Distribution of Income: the Gini Coefficient
Appendix 4 Derivation of the Demand Curve for Labour
Appendix 5 Determination of the Multiplier
Glossary
Index

 

Back Cover

Economics: Theory in Action 4e

Ken Heather

Economics: Theory in Action(previously Understanding Economics) is a textbook which brings the fascinating subject of economics alive, addressing current and often controversial issues that have a great effect upon us all, including: Why does government worry about inflation? What is a fair wage? Is the Euro a good idea? The state of the Health Service, etc.

This text adopts a unique, case-study approach with each of the twenty cases carefully chosen to build up an understanding of economic analysis, showing how economic theory relates to the real world. For example supply, demand and elasticity are discussed with the help of the case ‘The stock market: a quick way to riches or poverty?’ and oligopoly is covered with the help of the case ‘Europe’s airline prices: the sky’s the limit?’


Building on the strength of previous editions, the fourth edition has been substantially revised to reflect the changes that have occurred in the past few years. All twenty chapters of the book have been updated to reflect these changes and the new edition covers the implications of September 11th, the acceptance of former communist societies into the European Union, the Euro, etc.

Key Features

  • Case-study approach allows students to see the immediate application of theoretical material to real world examples and problems.
  • Balanced coverage of microeconomic and macroeconomic issues.
  • End-of-chapter discussion questions and key results summary boxes reinforce learning.
  • Comprehensive glossary.

New Features

  • Greater European focus with more European examples and cases including a new European/Middle Eastern case.
  • Each chapter/case has been thoroughly revised and updated.
  • Includes a new case called ‘The price of oil: does OPEC hold the West to ransom?’ to help explain the theory of Monopoly and Monopolistic Competition.
  • A new website at www.booksites.net/heather includes a solutions manual, 300 self-test questions and weblinks with descriptions,.

 

Economics: Theory in Action is an ideal textbook for non-specialist students taking an introductory course in economics, whether as part of a business studies degree or any other course of study requiring a grounding in economics. The unique case based approach means it is also suitable as a supplementary text for specialist Economics courses, particularly for seminar work.

Ken Heather is Senior Lecturer at Portsmouth University. He is also author of ‘The Economics of Industries and Firms’ and co-author of ‘Economics’ by Case, Fair, Gartner and Heather, both published by Pearson Education.


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