Economics – David Begg, Gianluigi Vernasca, Stanley Fischer, Rudiger Dornbusch – 18th Edition


This new edition of the popular text by David Begg and Gianluigi Vernasca enables the reader to understand today’s economic environment by examining the underlying theory and applying it to real-world situations. Economics surveys the latest ideas and issues, such as the role of regulation in banking, the consequences of globalization and monetary union, and the efficacy of our current economic models. This coverage, combined with a rich array of pedagogical features, encourages students to explore our economic past and present, and to think critically about where this might lead us in the future.

The new edition is updated to provide a comprehensive analysis of the financial crash: its causes, consequences, and possible policy responses, from fiscal stimulus to quantitative easing.

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  • Part 1: Introduction 
    1. Economics and the Economy
    2. Tools of Economics Analysis
    3. Demand, Supply and the Market

    Part 2: Positive Microeconomics
    4. Elasticities of Demand and Supply
    5. Consumer Choice and Demand
    6. Introducing Supply Decisions
    7. Costs and Supply
    8. Perfect Competition and Pure Monopoly
    9. Market Structure and Imperfect Competition
    10. The Labour Market
    11. Factor Markets and Income Distribution
    12. Risk and Information

    Part 3: Welfare Economics
    13. Welfare Economics
    14. Government Spending and Revenue

    Part 4: Macroeconomics
    15. Introduction to Macroeconomics
    16. Output and Aggregate Demand
    17. Fiscal Policy and Foreign Policy
    18. Money and Banking
    19. Interest Rates and Monetary Transmission
    20. Monetary and Fiscal Policy
    21. Aggregate Supply, Prices and Adjustment to Shocks
    22. Inflation, Expectations and Credibility
    23. Unemployment
    24. Exchange Rates and the Balance of Payments
    25. Open Economy Macroeconomics
    26. Exchange Rate Regimes
    27. Business Cycles
    28. Supply-side Economics and Economic Growth

    Part 5: The World Economy
    29. International Trade
  • Citation

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