Economics for Today 5e aims to simplify the array of confusing economic analyses and present a straightforward and balanced approach that effectively teaches the application of basic economics principles. Only essential material is included in the book and key concepts are explained in clear and simple terms.
Written in an engaging and user-friendly manner, the book is designed for non-majors (although can also be used in these courses). This edition includes discussion of important economic and financial issues being dealt with in the aftermath of the global financial crisis as well economic considerations of policy developments relating to carbon pollution abatement and housing affordability.

The text also reflects several ongoing economic issues which hit the headlines during the 2008-2015 period.

Part 1 Introduction to economics
1 Thinking like an economist
Appendix to Chapter 1: Applying graphs to economics
2 Production possibilities and opportunity cost
3 Market demand and supply
4 Markets in action
Part 2 Microeconomic fundamentals
5 Elasticity of demand and supply
6 Production costs
Part 3 Market structures
7 Perfect competition
8 Monopoly
9 Monopolistic competition and oligopoly
10 Policy Issues
Part 4 Macroeconomic fundamentals
11 Measuring the size of the economy
12 Business cycles and economic growth
13 Inflation and unemployment
Part 5 Macroeconomic theory and policy
14 A simple model of the macro economy
Part 1 Introduction to economics
1 Thinking like an economist
Appendix to Chapter 1: Applying graphs to economics
2 Production possibilities and opportunity cost
3 Market demand and supply
4 Markets in action
Part 2 Microeconomic fundamentals
5 Elasticity of demand and supply
6 Production costs
Part 3 Market structures
7 Perfect competition
8 Monopoly
9 Monopolistic competition and oligopoly
10 Policy Issues: housing affordability and climate change
Part 4 Macroeconomic fundamentals
11 Measuring the size of the economy
12 Business cycles and economic growth
13 Inflation and unemployment
Part 5 Macroeconomic theory and policy
14 A simple model of the macro economy
15 The monetary and financial system
16 Macroeconomic policy I: monetary policy
17 Macroeconomic policy II: fiscal policy
Part 6 Further aspects of international economics
18 International trade and finance

Economics for Today 5e aims to simplify the array of confusing economic analyses and present a straightforward and balanced approach that effectively teaches the application of basic economics principles. Only essential material is included in the book and key concepts are explained in clear and simple terms. Written in an engaging and user-friendly manner, the book is designed for non-majors (although can also be used in these courses). This edition includes discussion of important economic and financial issues being dealt with in the aftermath of the global financial crisis as well economic considerations of policy developments relating to carbon pollution abatement and housing affordability. The text also reflects several ongoing economic issues which hit the headlines during the 2008-2015 period. Strong focus on the ethics of economists particularly during and since the GFC of 2008/9, in a box labelled ‘Economics and ethics ‘Global Financial and Economic Crisis’ box, in Macro chapters, explores the effect of the GFEC on the macroeconomic environment Global perspectives box Economic debates around reducing carbon emissions Economic debates on appropriate ways in which governments can tackle housing affordability Ongoing economic developments following the monumental macroeconomic event that was the global financial and economic crisis of 2008/09 – for example, the European sovereign The ongoing economic developments following the monumental macroeconomic event that was the global financial and economic crisis of 2008/09 – for example, the European sovereign debt and bank crisis, and the extensive use of so-called ‘quantitative easing’ by the world’s major central banks. Each chapter contains a number of current real-world exercises and topics for discussion Online exercises guide readers to websites to use as a basis for problem-solving exercises