Principles of Economics in Context lays out the principles of micro- and macroeconomics in a manner that is thorough, up to date, and relevant to students, attuned to the economic realities of the world around them. It offers engaging treatment of important current topics such as new thinking in behavioral economics, financial instability and market bubbles, debt and deficits, and policy responses to the problems of unemployment, inequality, and environmental sustainability. This new, affordable edition combines the just-released new editions of Microeconomics in Context and Macroeconomics in Context to provide an integrated full-year text covering all aspects of both micro and macro analysis and application, with many up-to-date examples and extensive supporting web resources for instructors and students. Key features include: An eye-opening statistical portrait of the United States; Clear explanation of basic concepts and analytical tools, with advanced models presented in optional chapter appendices; Presentation of policy issues in historical, institutional, social, political, and ethical context--an approach that fosters critical evaluation of the standard microeconomic models, such as welfare analysis, labor markets, and market competition; Issues of human well-being, both domestic and global, are given central importance, enriching the topics and analytical tools to which students are introduced; The theme of sustainability--financial, social, and ecological--is thoroughly integrated in the book, with chapters on alternatives to standard GDP measurement, the environment, common property, public goods, and growth and sustainability in the twenty-first century; Full complement of instructor and student support materials online, including test banks and grading through Canvas.

"Our fourth streamlined edition arrives in the midst of some of the most dramatic upheavals ever witnessed, both in the economy generally and in higher education in particular. The COVID-19 pandemic has produced levels of unemployment not seen since the Great Depression and has created dramatic changes in the ways we teach across educational institutions at every level. These developments have reinforced our confidence in the instructional philosophy that motivated us to produce our first edition"--

Please note: The color images and text in this textbook are grayscale. Principles of Economics covers the scope and sequence for a two-semester principles of economics course. The text also includes many current examples, including; discussions on the great recession, the controversy among economists over the Affordable Care Act (Obamacare), the recent government shutdown, and the appointment of the United States' first female Federal Reserve chair, Janet Yellen. The pedagogical choices, chapter arrangements, and learning objective fulfillment were developed and vetted with feedback from educators dedicated to the project. The outcome is a balanced approach to micro and macro economics, to both Keynesian and classical views, and to the theory and application of economics concepts. Current events are treated in a politically-balanced way, as well.

This is the third edition of Economic Principles, a concise adaptation by Chris Bajada of the successful Microeconomics and Macroeconomics books by US authors McConnell and Brue (responsible for the number one selling economics texts in the world). These texts have been adapted locally by Jackson, McIver and Wilson and have been selling into the Australian market for over thirty years. Economic Principles 3e combines the essential micro and macro elements into one book created to cover a singlesemester course. It is a low to mid-level text designed for the average student to be able to understand, but without compromising the rigour of the text. It is pedagogically very strong, offering a step-by-step approach to learning but with all the flexibility of a set of six extension chapters allowing lecturers to teach at different levels, according to their students' needs. Responding to market feedback this edition introduces new features as well as reworked existing features. For example, each chapter now has a new end-of-chapter worked case study, 'Bringing it all together', which contains a short case and a series of solved questions to guide students through the process of performing an economic analysis. The content has been updated too, incorporating coverage of the GFC, sustainability and the changing role of regulation, along with updates to all data, and new cases on hot topics such as global warming. Economic Principles offers a blended learning approach that keeps students interested and engaged in everyday economics. There's plenty of hands-on experience for students as they perform economic analyses on data that reflects what is happening in the world economy right now.