John Sloman / Jon Guest / Dean Garratt  
Total pages
January 2018
Related Titles


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.

New to this Edition

Economics, 10th 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.

Table of Contents



Why Economics is Good for You

1. Economics and Economies



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



15.   An Introduction to Macroeconomic Issue and Ideas

16.   The Development of Macroeconomic Thinking: A Historical Perspective



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



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     




Back Cover

Don’t just study Economics – learn to think like an economist with Sloman, Garratt and Guest’s best-selling text and support package.


Economics is more than a textbook- it’s a rich resource providing a thorough grounding in economic

theory and practice, as well as an insight into the real issues and problems faced by economists today.


The 10th edition has been extensively revised and updated with cutting-edge content to reflect the fast-changing and complex world we live in; from globalisation to Google, Brexit to

the changing face of Europe and the developing world, the increasing influence of banks and financial institutions to the rise of populism - the need for economic solutions to global problems has never been greater.


Economics 10e will help you:


·    Learn to apply economics to real-world issues and data – over 170 case studies and applications illustrate concepts and show how they translate into actual policy.

·    Develop critical thinking skills – frequent questions in each chapter encourage you to reflect on and engage with what you have just read, building confidence to understand and evaluate different economic policies

·    Enhance your employability skills by learning how to analyse and find your own solution to problems and to think flexibly and critically, applying core concepts and ideas to new situations.

·    Keep up-to-date with current issues in economics - a regularly-updated news blog accompanies the book, including links to a range of articles, videos, podcasts, data and reports.


A wealth of additional material to support your learning via the Companion Website and MyLab Economics can be found at


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. John is also Visiting Professor at the University of the West of England, Bristol.


Dean Garratt is a Principal Lecturer in Economics at Nottingham Business School (NBS)


Jon Guest is Senior Teaching Fellow at the University of Aston