When understanding the interactions in our economy, it is critical to recognize all participants in this complex system. I’m passionate about microeconomics because it provides me with a different perspective to examine the world around me. I use my microeconomic glasses and I enjoy rationalizing the daily interactions and predicting the potential outcomes.
This eBook, developed by faculty members from top institutions, is available for free from the developers’ website, offers several online resources, it's frequently updated, translated to several languages, and has been widely adopted in several countries.
The book includes both the usual topics for courses on introduction to microeconomics and introduction to macroeconomics, using a similar writing style as other introductory textbooks (assumes no mathematical background), thus being accessible to a wide range of students.
Unlike similar books, however, it structures topics differently: instead of presenting chapters according to the main tool or concept being introduced, chapters are presented according to real-world problems.
While this can help motivate each chapter, it may require some adapting from the instructor’s teaching style.
The only introductory economics text to equip students to address today's pressing problems by mastering the conceptual and quantitative tools of contemporary economics.
OUP has partnered with the international collaborative project of CORE researchers and teachers to bring students a book and learning system that complements and enhances CORE's open-access online e-book.
The Economy: - is a new approach that integrates recent developments in economics including contract theory, strategic interaction, behavioural economics and financial instability - Engages with issues students of economics care about, exploring inequality, climate change, economic instability, wealth creation and innovation, among other issues. - provides a…
I was born in North Dakota and raised outside of Minneapolis in the 1980s and 1990s, a period marked by the ascendance of global trade and finance. I got hooked on reading, thinking, and talking about the politics of international economic relations in college. Sufficiently hooked, I guess, that I applied to graduate school to try and make it my vocation. My research and teaching to this point have focused on how key political and ideational forces in domestic and world politics – namely, international organizations, shared economic beliefs, social conventions, and material interests – shape the governance of globalized markets and the crafting of countries’ foreign economic policies.
Reading this book in graduate school was revelatory. It was mostly ignored upon publication. But in the subsequent eighty years Hirschman’s insights have become part of the bedrock of my field of international political economy.
The key idea is that countries seeking to enhance and expand their power can use “liberal” commercial strategies to induce economic and political dependency in smaller, weaker partners. It’s dangerous, in other words, to simply assume that more extensive trade and investment flows between countries will engender a more stable, peaceful international system.
Uncontrolled trade can aggravate tensions and facilitate international disorder. Hirschman arrives at a bold idea: surrendering national authority to follow global rules and institutions is the only way to counteract the harmful effects of massive power and wealth inequalities in world politics.
This study begins with a brief survey of economic thought on the relationship between foreign trade and national power, from the Mercantilists on. Chapter II attempts a systematic theoretical approach to the subject. It first makes clear the fundamental basis of the possible use of foreign trade as an instrument of national power policy. Using well-known concepts of economic analysis, it proceeds to show under what conditions and by means of what policies this instrument is likely to attain its highest efficiency. The principles of power policy thus deduced theoretically are then compared with the actual practices followed by German…
I worked in Indonesia much of the time between 1979 and 2009, with people living in forests. As an anthropologist, my work was initially ethnographic in nature, later linking such insights to policies relating to forests and people – as I worked at the Center for International Forestry Research in Bogor (1995 – the present). Although later in my career, I worked in forests all over the tropics, my real love remains with Indonesia, where I worked the longest and learned the most. My most recent research was in 2019, when I returned to the first community I studied ethnographically in 1979-80.
I love Tsing’s Friction, because of its focus on how policies play out in the real world. She is able, through her in-depth understanding of life in rural Central Kalimantan, to show us how Indonesian national policies are adapted, implemented, and perverted in the field. She talks about policy implementation as seeing ‘how the rubber hits the road,' and at the same time she provides the reader with a growing understanding of the lifeways of the people of that province.
A wheel turns because of its encounter with the surface of the road; spinning in the air it goes nowhere. Rubbing two sticks together produces heat and light; one stick alone is just a stick. In both cases, it is friction that produces movement, action, effect. Challenging the widespread view that globalization invariably signifies a "clash" of cultures, anthropologist Anna Tsing here develops friction in its place as a metaphor for the diverse and conflicting social interactions that make up our contemporary world. She focuses on one particular "zone of awkward engagement"--the rainforests of Indonesia--where in the 1980s and the…
One of the oldest questions is: why are some countries rich and some countries poor? Adam Smith famously answered that it was the division of labor (specialization) and trade in his book The Wealth of Nations. The more you study trade, however, the more complicated the answer becomes. I have been grappling with this question since the 1990s, as a student, and I still do not have a simple answer like Adam Smith. However, I think I have come up with a framework to understand how the economic history of the world developed and I have been teaching that global history in college as a professor since the 2010s.
In ReOrient, A.G. Frank argues that this current situation in which the West is at the center of the world is a mere blip in terms of global history. Historically Asia was always the richer part of the globe and once again, in the near future, Asia will be the richest part of the globe again.
Andre Gunder Frank asks us to re-orient our views away from Eurocentrism - to see the rise of the West as a mere blip in what was, and is again becoming, an Asia-centered world. In a bold challenge to received historiography and social theory he turns on its head the world according to Marx, Weber, and other theorists, including Polanyi, Rostow, Braudel, and Wallerstein. Frank explains the Rise of the West in world economic and demographic terms that relate it in a single historical sweep to the decline of the East around 1800. European states, he says, used the silver…
I have studied the impact of economics on security for decades. In addition to co-authoring Globalization and the National Security State, I published books on economic interdependence and security, the efficacy of economic sanctions and incentives as tools of foreign and security policy, and the use of economic instruments to promote regional peacemaking. In general, I have always been fascinated by the economic underpinnings of security, from Napoleon’s observation that an army marches on its stomach to the utility of advanced financial sanctions to punish rogue actors in the contemporary era.
This is a good early analysis of globalization and the enormous transformations it is reputed to have brought about. Its contributions are many, including a conceptualization of globalization that goes beyond economic exchange to include cultural, social, and political dimensions of global interactions.
Overall, Mittelman sees the immense, unsettling tensions in globalization that are likely to give rise to contestation and conflict.
Here James Mittelman explains the systemic dynamics and myriad consequences of globalization, focusing on the interplay between globalizing market forces, in some instances guided by the state, and the needs of society. Mittelman finds that globalization is hardly a unified phenomenon but rather a syndrome of processes and activities: a set of ideas and a policy framework. More specifically, globalization is propelled by a changing division of labor and power, manifested in a new regionalism, and challenged by fledgling resistance movements. The author argues that a more complete understanding of globalization requires an appreciation of its cultural dimensions. From this…
My interest in global issues developed when I was a student. What was my conviction already then became more obvious every year since then. In order to solve our most urgent problems, we need to have a strong and legitimate global governance system. Global governance, therefore, became the core of my research. I am Michael Zürn, the Director of the Research Unit Global Governance at the Berlin Social Science Center (WZB) and a Professor of International Relations at Free University of Berlin. I have also been the co-spokesperson for the Cluster of Excellence "Contestations of the Liberal Script" (SCRIPTS) since 2019.
This book is a must-read for everyone who wants to attain a better understanding of global politics and how the current thinking about global governance has evolved.
Keohane and Nye teach us how to analyze interstate affairs through a theoretical lens that is reflective of both interstate competition and interdependence. States compete on their levels of welfare. At the same time, they can benefit from cooperation because the increasing number of cross-border transactions (e.g., flows of money, goods, or people) are often connected to reciprocal costs each state wants to reduce. Embedded in formalized sets of rules and norms, one could think of the GATS agreement supervised by the WTO; these interdependencies must be seen as a dominant structure in an increasingly globalized world.
Though written in the seventies, this book remains a seminal work in the field of international relations, and its relevance to the contemporary world still holds…
A landmark work of international relations theory, Power and Interdependence first published in 1977 and posited a radically comprehensive explanation of the mechanics driving world affairs-"power politics" on one hand and "complex interdependence" on the other hand.
This widely influential book reexamined the military and economic interests of state and non-state actors, and in an argument made before the end of the Cold War, the authors broadened the prevailing realist worldview of the time and anticipated many of the developments in our modern era of globalization. With a new preface by the authors and a foreword by Fareed Zakaria that…
I am a professor of history at Western University in London, Ontario, Canada. I have written about the history of international organizations, international trade, the British Commonwealth, and Canada in the world. Although these topics have taken me in different directions, I have always examined the political currents that run through them. Politics emerge in relation to ideology, policymaking, leadership, norms, values, interests, identity, international relations, and global governance. I have been especially interested in connecting economics and politics. Many scholars write about trade policies, organizations, and negotiations as though they are technical and narrowly economic when they are agents, instruments, and expressions of international politics.
This book shows how trade has long connected people and societies all over the world, from miners in Potosi, to coffee growers in Yemen, and traders and shippers from Fujian.
Topik and Pomeranz reject a Eurocentric approach to the history of international trade and they put real people back into the story. The engaging vignettes in this collection are not primarily about politics, but they make clear why trade is political and polarizing.
The workings of international trade powerfully affected people’s lives, for better and for worse, and so people reacted strongly to trade, as committed champions and tireless opponents.
The World That Trade Created brings to life the history of trade and its actors. In a series of brief, highly readable vignettes, filled with insights and amazing facts about things we tend to take for granted, the authors uncover the deep historical roots of economic globalization.
Covering over seven hundred years of history, this book, now in its fourth edition, takes the reader around the world from the history of the opium trade to pirates, to the building of corporations and migration to the New World. The chapters are grouped thematically, each featuring an introductory essay designed to synthesize…
Avinash Dixit is an emeritus university professor of economics at Princeton. He is a member of the National Academy of Sciences and was President of the American Economic Association for the year 2008.
A brilliant sweep through the millennia of commerce around the world. If you think globalization happened over the last quarter-century, you are wrong by about 5000 years. Find out how and why.
A sweeping narrative history of world trade—from Sumer in 3000 BC to the firestorm over globalization today—that brilliantly explores trade’s colorful and contentious past and provides fresh insights into social, political, cultural, and economic history, as well as a timely assessment of trade’s future.
Adam Smith wrote that man has an intrinsic “propensity to truck, barter, and exchange one thing for another.” But how did trade evolve to the point where we don’t think twice about biting into an apple from the other side of the world?
In A Splendid Exchange, William J. Bernstein tells the extraordinary story of global…
I am a professor of history at Western University in London, Ontario, Canada. I have written about the history of international organizations, international trade, the British Commonwealth, and Canada in the world. Although these topics have taken me in different directions, I have always examined the political currents that run through them. Politics emerge in relation to ideology, policymaking, leadership, norms, values, interests, identity, international relations, and global governance. I have been especially interested in connecting economics and politics. Many scholars write about trade policies, organizations, and negotiations as though they are technical and narrowly economic when they are agents, instruments, and expressions of international politics.
If you can get past the title, this book is a model for how to write about international economic diplomacy.
Gardner connects technical matters like tariffs, exchange rates, quantitative restrictions, and loans to ideology, the status of nations, and relations between states. Set in the 1940s, it follows American and British efforts to set up the IMF, World Bank, and GATT.
Although officials believed that the highest political stakes were connected to trade – the peace and security of the world were at issue – they fought constantly about trade.
I am a Chicago-based artist, author, veteran, and teacher. I studied at the American Academy of Art in Chicago before enlisting in the United States Air Force in 1968 during the bloody Tet Offensive during the Vietnam era. Upon my discharge I got my BFA in 1994. I got convicted for a crime I did not commit, and I became a homeless-existential artist on Chicago’s mean streets for six months. I got hired by an Acoustic company, and I married and worked for twenty-seven years while raising a family. I now work as an art teacher. All my nonfiction books chronicle different episodes in my life.
When I was a homeless artist, I stumbled across this brilliant book, and it validated my belief that contrary to what global capitalists believe, free markets outside the West do not spread wealth in the hands of an ‘outsider’ minority but instead generate ethnic envy and hatred among the frustrated, impoverished majorities.
Amy Chua states that billions of poor, exploited, and powerful people around the world (homeless and displaced) watch as the wealthy minority in the United States continues to amass more control, prestige, and tax breaks.
Ironically, Chua points out, although America is viewed “as arrogant, hegemonic and vapidly materialistic, most of the downtrodden would rather be in the U. S. than anywhere else. In 2023, close to 10 million illegal migrants have entered the U.S. via the porous Texas border.
The reigning consensus holds that the combination of free markets and democracy would transform the third world and sweep away the ethnic hatred and religious zealotry associated with underdevelopment. In this revelatory investigation of the true impact of globalization, Yale Law School professor Amy Chua explains why many developing countries are in fact consumed by ethnic violence after adopting free market democracy.
Chua shows how in non-Western countries around the globe, free markets have concentrated starkly disproportionate wealth in the hands of a resented ethnic minority. These “market-dominant minorities” – Chinese in Southeast Asia, Croatians in the former Yugoslavia, whites…
