The Economy: Economics for a Changing World The Core 1st Edition Econ Team

The Economy: Economics for a Changing World – Ebook Instant Download/Delivery ISBN(s): 9780198810247,0198810245

Product details:

• ISBN-10 ‏ : ‎ 0198810245
• ISBN-13 ‏ : ‎ 978-0198810247
• Author(s): The CORE ECON team

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.

Table contents:

1: The Capitalist Revolution

2: Technological Change, Population and Growth

3: Scarcity, Work and Choice

4: Social Interactions

5: Property And Power: Mutual Gains And Conflict

6: The Firm: Owners, Managers And Employees

7: The Firm and Its Customers

8: Supply And Demand: Price-Taking and Competitive Markets

9: The Labor Market: Wages, Profits, And Unemployment

10: Banks, Money and the Credit Market

11: Price-Setting, Rent-Seeking, and Market Dynamics

12: Markets, Efficiency and Public Policy

13: Economic Fluctuations and Unemployment

14: Unemployment and Fiscal Policy

15: Inflation, Unemployment and Monetary Policy

16: Technological Progress, Employment and Living Standards In The Long Run

Capstones

17: The Great Depression, Golden Age and Global Financial Crisis

18: The Nation and the World Economy

19: Economic Inequality

20: Economics of the Environment

21: Innovation, Information and the Networked Economy

22: Economics, Politics, and Public Policy

1. The Capitalist revolution

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