This book presents an overview and assessment of the conceptual advances in economics during the last century. The book relies heavily on engaging examples, intended to draw in the reader and to demonstrate the far-reaching application of economic reasoning to social phenomena. The book is aimed at a broad audience including those with little or no formal training in economics. Readers will come to appreciate the novel insights and methods developed by economists in recent decades.
"Sandler provides a technical yet readable guide for noneconomists, although the stylized stories receive more space than the real world applications.... Sandler's approach is balanced, including a less-than-optimistic appraisal of the future impact of economic theory in which he specializes." Choice
1. Economics without apology; 2. Back to the future; 3. In another's shoes: games, strategies, and economics; 4. It takes two or more: public economics and collective action; 5. Government for the politician? Public and social choice; 6. Institutions matter: the new institutional economics; 7. Knowledge is power: the new institutional economics; 8. Everything ties together: general equilibrium; 9. Laboratory economics: of rats and men; 10. Before yesterday and beyond tomorrow: intergenerational economics; 11. Fish, space, and spaceship earth: bioeconomics and interdisciplinary economics; 12. Crystal ball economics: rational expectations; 13. How do we get there from here?: transitional economies and policy reforms; 14. Economic growth: endogeneity, institutions and other concepts; 15. Economic visions for future horizons.