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The Economy: Economics for a Changing World Paperback – 12 October 2017
by
The CORE Team
(Author)
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 instabilityEngages with issues students of economics care about, exploring inequality, climate change, economic instability, wealth creation and innovation, among other issues.provides a unified treatment of micro- and macroeconomicsmotivates all models and concepts by evidence and real-world applicationsuses interactive student-paced model-buildinghas been adopted as the standard principles course at University College London, Sciences Po Paris and the Toulouse School of EconomicsA 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.Key Features of this Edition: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 questionsHow economists learn from facts boxes introduce students to research practice including how to identify causation using experiments and other methodsWhen economists disagree features engage the student with evidence and controversiesThe Read more suggestions direct the reader to resources they can consult to take their learning furtherStudent-paced interactive diagrams suited to diverse learner capabilities are available within the CORE open access ebook available here - www.core-econ.orgMultiple-choice questions (with explanations of correct and incorrect answers) allow students to self-test their understandingGreat Economists panels showcase a range of influential thinkers who have shaped the path of economicsDefinitions explain important terms right where neededEinsteins provide an opportunity for readers to explore the quantitative aspects of the topics under discussion in more detailOnline Leibniz calculus supplements provide a calculus-based course option, enhancing flexibility of use.
- ISBN-100198810245
- ISBN-13978-0198810247
- Edition1st
- PublisherOxford University Press UK
- Publication date12 October 2017
- LanguageEnglish
- Dimensions26.42 x 4.57 x 19.56 cm
- Print length1000 pages
Product description
Review
The best innovation in economic education that I have seen in my career. A smorgasbord of ideas that refresh our old concepts, moving our standard discourse from dismal to light, from a dehumanized science to a spirited vision of the world. ― Christian Gollier a founder and former long term Director of the Toulouse School of Economics
The text takes a refreshing new approach to giving students their first encounter with economics, with lots of data and intuitive interesting examples, but without sacrificing the key ingredients of the distinctive way economists look at the world. ― Stephen Wright, Professor of Economics at Birkbeck College
Answers an important but, astonishingly, unfilled need, for an economics text that is respectful of the world as we find it. This means a focus on both the historical foundations of current institutions and trends, but also an awareness of current empirical evidence on economic phenomena. It asks a lot of students but it also rewards their effort with a sense of empowerment ― Peter Matthews, Chair of the Department of Economics at Middlebury College
a brilliant way to introduce students to economics: it combines state of the art economic theory with a big-picture perspective on modern development ― Nikolaus Wolf, Professor of Economics at Humboldt University of Berlin
Adopting CORE gives us a competitive edge, demonstrating our commitment to cutting edge and student-focused content and delivery ― Marco Gundermann, Programme Director Economics Suite of Programmes, Cardiff School of Management at the Cardiff Metropolitan University
advances the teaching of Economics, providing a new path to the somewhat petrified pedagogical Micro-Macro structure we have become too accustomed to. I have had very positive responses from students regarding the CORE material I have used so far. I am adopting more of the CORE chapters this coming year and will run a fully CORE first year Micro module next year ― Peter Backus, University of Manchester
While conceding nothing in terms of teaching first year students key techniques, CORE addresses historical context and key contemporary debates that have for too long been neglected in the standard first year economics curriculum ― Colin Jennings, Programme Director of the BA/BSc Political Economy Programme at King's College London
Overhauling the way economics is taught ought to produce students more able to understand the modern world. Even better, it should improve economics itself ― The Economist
CORE promises to be the biggest shake-up since Paul Samuelson's Economics became the standard bearer for introductory texts in 1948 ― The Times
The members of the CORE team deserve credit for responding to the critics of economics without pandering to them. They have produced a careful but engrossing curriculum that will hopefully draw more young people into economics, and encourage them to continue their studies. (At University College London, students who took the CORE course did better in subsequent economics classes than earlier cohorts who took a more traditional introductory course.) ― The New Yorker
When 'political economy' became just 'economics', the shift came at the cost of its links to other social sciences. CORE authors explain the attempts to shift the paradigm in economics teaching and, in doing so, hope that students of the CORE course will become citizens better equipped to address the pressing problems of today. ― The Wire
The text takes a refreshing new approach to giving students their first encounter with economics, with lots of data and intuitive interesting examples, but without sacrificing the key ingredients of the distinctive way economists look at the world. ― Stephen Wright, Professor of Economics at Birkbeck College
Answers an important but, astonishingly, unfilled need, for an economics text that is respectful of the world as we find it. This means a focus on both the historical foundations of current institutions and trends, but also an awareness of current empirical evidence on economic phenomena. It asks a lot of students but it also rewards their effort with a sense of empowerment ― Peter Matthews, Chair of the Department of Economics at Middlebury College
a brilliant way to introduce students to economics: it combines state of the art economic theory with a big-picture perspective on modern development ― Nikolaus Wolf, Professor of Economics at Humboldt University of Berlin
Adopting CORE gives us a competitive edge, demonstrating our commitment to cutting edge and student-focused content and delivery ― Marco Gundermann, Programme Director Economics Suite of Programmes, Cardiff School of Management at the Cardiff Metropolitan University
advances the teaching of Economics, providing a new path to the somewhat petrified pedagogical Micro-Macro structure we have become too accustomed to. I have had very positive responses from students regarding the CORE material I have used so far. I am adopting more of the CORE chapters this coming year and will run a fully CORE first year Micro module next year ― Peter Backus, University of Manchester
While conceding nothing in terms of teaching first year students key techniques, CORE addresses historical context and key contemporary debates that have for too long been neglected in the standard first year economics curriculum ― Colin Jennings, Programme Director of the BA/BSc Political Economy Programme at King's College London
Overhauling the way economics is taught ought to produce students more able to understand the modern world. Even better, it should improve economics itself ― The Economist
CORE promises to be the biggest shake-up since Paul Samuelson's Economics became the standard bearer for introductory texts in 1948 ― The Times
The members of the CORE team deserve credit for responding to the critics of economics without pandering to them. They have produced a careful but engrossing curriculum that will hopefully draw more young people into economics, and encourage them to continue their studies. (At University College London, students who took the CORE course did better in subsequent economics classes than earlier cohorts who took a more traditional introductory course.) ― The New Yorker
When 'political economy' became just 'economics', the shift came at the cost of its links to other social sciences. CORE authors explain the attempts to shift the paradigm in economics teaching and, in doing so, hope that students of the CORE course will become citizens better equipped to address the pressing problems of today. ― The Wire
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
From the Publisher
The CORE TeamSamuel Bowles heads the Behavioral Sciences Program at the Santa Fe Institute. He has taught economics at Harvard, at the University of Massachusetts and University of Siena. His books include Microeconomics: Behavior, Institutions and Evolution (2005) 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, Office for Budget Responsibility in the UK. With David Soskice she has co-authored 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 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 are in labour economics and public economics, especially public policy issues relating to health, education and vocational training.
About the Author
The CORE TeamSamuel Bowles heads the Behavioral Sciences Program at the Santa Fe Institute. He has taught economics at Harvard, at the University of Massachusetts and University of Siena. His books include Microeconomics: Behavior, Institutions and Evolution (2005) 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, Office for Budget Responsibility in the UK. With David Soskice she has co-authored 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 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 are in labour economics and public economics, especially public policy issues relating to health, education and vocational training.
Product details
- Publisher : Oxford University Press UK; 1st edition (12 October 2017)
- Language : English
- Paperback : 1000 pages
- ISBN-10 : 0198810245
- ISBN-13 : 978-0198810247
- Dimensions : 26.42 x 4.57 x 19.56 cm
- Best Sellers Rank: 436,516 in Books (See Top 100 in Books)
- 315 in Business Investments Textbooks
- 345 in Business Labour
- 417 in Industrial Archaeology
- Customer Reviews:
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4.4 out of 5 stars
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128 global ratings
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AngelaM
5.0 out of 5 stars
Lunga attesa
Reviewed in Italy on 8 April 2022Verified Purchase
Il libro è arrivato dopo due settimane dall’acquisto, npn mi ero accorta che era spedito dall’America. Tutto ok alla fine
Kenneth Hunter
5.0 out of 5 stars
A very timely introductory economics textbooks.
Reviewed in the United Kingdom on 3 June 2021Verified 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.
Amazon Customer
5.0 out of 5 stars
Economics has grown to this
Reviewed in the United States on 17 April 2018Verified 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.
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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Lemony Snicket
5.0 out of 5 stars
1200 pages de pur bonheur
Reviewed in France on 6 September 2019Verified Purchase
Bonnes explications, compréhensible même si vous n'avez jamais fait d'économie
Brad Byers
5.0 out of 5 stars
Well worth reading
Reviewed in Spain on 20 November 2017Verified 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.