This fully updated and revised edition provides Economics students with a clear and comprehensive introduction to the principles of both macroeconomics and microeconomics. The macro sections include more focus on economic growth and contain a variety of global examples including development and the world trading system, the Japanese economy, EU monetary and fiscal policies and transition economies. The micro sections give more prominence to game theory and strategic interaction and include topics such as optimization of agents, market failure and the role of government, asymmetric information and incentives, and risk management. The clear full-colour layout and enhanced pedagogical features help guide the introductory student through the material. Pedagogy for this edition includes chapter learning objectives, chapter introductions, case studies, chapter summaries, end of chapter questions and a glossary. Nwe to this edition are: new examples, including: coffee prices, museum charges, MPC paper on how interest rates work, globalization and poverty, economics of HIV/Aids and economics of tropical rain forests; economic growth is given more prominence in the Macroeconomics section; game theory and strategic interaction are given more prominence in the Microeconomics section; new case studies on: Argentina and asset price bubbles; and, updated sections on: Japan and EU monetary and fiscal policies. This edition has a companion web site which contains a high quality, full supplementary package for lecturers and students, including instructor's manual, computerised testbank, PowerPoint slides and web links.
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Professor Richard Lipsey is Professor Emeritus in the Economics department at Simon Fraser University in Canada Professor Alec Chrystal is at the Sir John Cass Business School, London
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