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The Economy: Economics for a Changing World 1st Edition

4.4 4.4 out of 5 stars 129 ratings
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Purchase options and add-ons

Oxford University Press has partnered with the international collaborative project of CORE researchers and teachers to bring students a text and learning system that complements and enhances CORE's open-access eBook.

The Economy:
*offers new approach that integrates recent developments in economics including contract theory, strategic interaction, behavioral economics, and financial instability
*challenges students to address inequality, climate change, economic instability, wealth creation, and innovation
*provides a unified treatment of micro- and macroeconomics
*supports all models and concepts with evidence and real-world applications
*adapts to students' own learning styles with interactive model building
*acts as the standard for the Economic principles course at University College London, Sciences Po Paris and the Toulouse School of Economics

A new economics for the principles course

The Economy begins with social interactions using elementary game theory and institutions modelled as rules of the game. This provides the basis for a modern treatment of markets including price-making as well as price-taking, the exercise of power, and the importance of social norms and adjustment to disequilibria.

Introducing labour and credit markets with incomplete contracts allows a consistent treatment of aggregate employment and fluctuations without the need for ad hoc sticky price and wage assumptions. Banks create money by extending credit and a central bank seeks to implement a target inflation rate.

Growth and instability are illustrated from the Great Depression, through the post-war golden age of capitalism through to the financial crisis and ensuing uncertainties. Students acquire an understanding of the past and current evolution of the economy in its social and environmental context, equipping them to marshal evidence and articulate positions about contemporary policy issues.

Pedagogical features
DT Economist in Action videos by Al Roth, James Heckman, Thomas Piketty, and others give students a glimpse of what economists do and how they engage in real policy questions
DT How economists learn from facts boxes introduce students to research practice including how to identify causation using experiments and other methods
DT When economists disagree features engage the student with evidence and controversies
DT The Read more suggestions direct the reader to resources they can consult to take their learning further
DT Student-paced interactive diagrams suited to diverse learner capabilities are available within the CORE open access ebook available here: http://www.core-econ.org/
DT Multiple-choice questions (with explanations of correct and incorrect answers) allow students to self-test their understanding
DT Great Economists panels showcase a range of influential thinkers who have shaped the path of economics
DT Definitions explain important terms right where needed
DT Einsteins provide an opportunity for readers to explore the quantitative aspects of the topics under discussion in more detail
DT Online Leibniz calculus supplements provide a calculus-based course option, enhancing flexibility of use.

 The Economy is further augmented by the online learning and assessment tool, Dashboard, making it the complete solution for teaching and learning the principles of economics.

Additional support resources for the lecturer include:
DT Lecture slides plus animated slides of all figures and charts
DT 250 data sets in Excel for student exercises
DT Unit by unit guides to teaching
DT Suggested course structures for standalone micro and macro, and a course for non-majors

The use of The Economy also brings to lecturers membership of a growing global network of curriculum innovators changing how economics is taught worldwide.
Previous page
  1. ISBN-10
    0198810245
  2. ISBN-13
    978-0198810247
  3. Edition
    1st
  4. Publisher
    Oxford University Press
  5. Publication date
    November 15, 2017
  6. Language
    English
  7. Dimensions
    8 x 1.75 x 10.75 inches
  8. Print length
    1152 pages
  9. See all details
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Editorial Reviews

Book Description

The only introductory economics text to equip students to address today's pressing problems by mastering the conceptual and quantitative tools of contemporary economics

About the Author

The CORE Team

Samuel Bowles heads the Behavioral Sciences Program at the Santa Fe Institute. He has taught economics at Harvard, the University of Massachusetts, and the University of Siena. His books include Microeconomics: Behavior, Institutions and Evolution (2005) and The New Economics of Inequality and Redistribution (2012). He has also served as an economic advisor to Nelson Mandela and presidential candidate Robert F. Kennedy.

Wendy Carlin directs the CORE project. She is Professor of Economics at University College London and a Research Fellow of the CEPR. She is on the Expert Advisory Panel of the Office for Budget Responsibility in the UK. With David Soskice, she has coauthored three books: Macroeconomics and the Wage Bargain (1990), Macroeconomics: Imperfections, Institutions and Policies (2006), and Macroeconomics: Institutions, Instability and the Financial System (2015). For more than a decade, she was co-managing editor of Economics of Transition. In 2016 Wendy was awarded the CBE award for services to economics and public finance.

Margaret Stevens is Professor of Economics and Head of Department of Economics at the University of Oxford, where she has taught undergraduates studying PPE (Philosophy, Politics, and Economics) since 1993. Her research interests include labor economics and public economics, public policy issues relating to health, education, and vocational training.

Product details

  • Publisher ‏ : ‎ Oxford University Press; 1st edition (November 15, 2017)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 1152 pages
  • ISBN-10 ‏ : ‎ 0198810245
  • ISBN-13 ‏ : ‎ 978-0198810247
  • Item Weight ‏ : ‎ 4.55 pounds
  • Dimensions ‏ : ‎ 8 x 1.75 x 10.75 inches
  • Customer Reviews:
    4.4 4.4 out of 5 stars 129 ratings

Customer reviews

4.4 out of 5 stars
4.4 out of 5
129 global ratings

Top reviews from the United States

Amazon Customer
5.0 out of 5 stars Economics has grown to this
Reviewed in the United States on April 17, 2018
Verified Purchase
Economics has advanced a lot in the 45 years since I studied it at university.
Forget Samuelson, the understanding of markets etc has moved on a long way since then.
This book turns theory into practice with an easy to follow line of argument, and just enough maths to satisfy the doubters.
A great update for those who used to know Economics, very readable with just enough challenging questions thrown into the text to confirm the points being made.
2 people found this helpful
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Rick Smith
5.0 out of 5 stars Great college prep book!!!
Reviewed in the United States on May 12, 2019
Verified Purchase
Excellent book! Sooooo much information, I really dosn’t expect it to be so detailed! It’s a great textbook for a lot less than the books that the universities require you to buy. If you are planning to take college chemistry, read this book before you start.
One person found this helpful
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Ian
4.0 out of 5 stars Just be aware of the packaging
Reviewed in the United States on September 20, 2021
Verified Purchase
The packaging its not the best, its not the best for a book, most certainly when ordered packaged with other items. The book arrived with wrinkles and some creases, and a dent in the spine. Asides from that, the content its intact.
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Robert Joseph Mendoza
5.0 out of 5 stars Five Stars
Reviewed in the United States on February 20, 2018
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Excellent
One person found this helpful
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Top reviews from other countries

Translate all reviews to English
AngelaM
5.0 out of 5 stars Lunga attesa
Reviewed in Italy on April 8, 2022
Verified Purchase
Il libro è arrivato dopo due settimane dall’acquisto, npn mi ero accorta che era spedito dall’America. Tutto ok alla fine
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Kenneth Hunter
5.0 out of 5 stars A very timely introductory economics textbooks.
Reviewed in the United Kingdom on June 3, 2021
Verified Purchase
This book deserves to become the first year textbook for all economics students everywhere. It deals with topics such as growing inequality which make students wants to study the subject in the first place and which other books neglect. Good diagrams and relevant examples. A great foundation for further study.
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Lemony Snicket
5.0 out of 5 stars 1200 pages de pur bonheur
Reviewed in France on September 6, 2019
Verified Purchase
Bonnes explications, compréhensible même si vous n'avez jamais fait d'économie
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Brad Byers
5.0 out of 5 stars Well worth reading
Reviewed in Spain on November 20, 2017
Verified Purchase
A great book -very thorough and informative, with nuances, graphs and anecdotes many readers will find surprising. A fresh approach to an essential subject.
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Ted
5.0 out of 5 stars Just goes through everything in detail with examples in today’s world
Reviewed in the United Kingdom on November 2, 2021
Verified Purchase
Just a excellent book really helps with my study for collage
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