Economics: A Global Introduction

by Ananish Chaudhuri

Overview

Economics affects our daily lives in crucial ways. We constantly hear about recessions and unemployment, inflation and cost-of-living crises, economic growth and inequality, climate change and carbon taxes, interest rates and house prices, and tariffs and trade wars. What does this all mean?

Written in a highly engaging style, Economics: A Global Introduction cuts through the jargon to provide a comprehensive introduction to the basics of economics. This book includes applications of economic principles and insights from behavioural economics into contemporary issues such as global warming and the COVID-19 pandemic. This book is replete with real-world examples and anecdotes from politics, literature, film, and sports to help the reader grasp fundamental micro- and macroeconomic concepts. Student-friendly features include case studies, start-of-chapter learning objectives, discussion questions and answers, further reading suggestions, and mathematical appendices. This book is accompanied by useful digital resources, including lecture recordings, PowerPoint slides, and a test bank containing both multiple-choice and essay questions and answers.

Suitable for students who may pursue further studies in economics, as well as those choosing a different field, Economics: A Global Introduction is the ideal textbook for providing students with an economic perspective on the world.

Product Details

ISBN-13:	9781032411514
Publisher:	Taylor & Francis
Publication date:	01/20/2025
Pages:	536
Product dimensions:	6.88(w) x 9.69(h) x (d)

About the Author

Ananish Chaudhuri is Professor of Experimental Economics at the University of Auckland Business School.

Table of Contents

Preface. 1. Economics: A way of thinking about the world  Part 1: Microeconomics 2. Buyers, Sellers, and Markets 3. Beyond Demand and Supply: Behavioural Analyses of Markets 4. Elasticity of demand and applications 5. The pricing decision for a firm 6. Monopoly and market power 7. Competition and the limits of market power 8. Thinking Strategically 9. Tackling climate change Part 2: Macroeconomics 10. Measuring a country’s income and the cost of living 11. Who saves, who borrows and why? 12. The benefits of international trade (and its discontent) 13. Currencies and exchange rates 14. Living in a globalized world 15. Economic upheavals and government policy Part 3: Answers 16. Answers to end of chapter discussion questions. Index

Editorial Reviews

In a world populated by repetitive Economics Principles textbooks, Ananish Chaudhuri’s Economics: A Global Introduction offers a breath of fresh air. Bringing together a global perspective on important world problems with insights from behavioural economics, Chaudhuri offers students a dynamic and relevant perspective on what they need to know about the way economies function. Intended for the non-specialist student, this book is ideal for a one semester course that introduces economics to students.”

—Andrew Schotter, Professor of Economics, New York University; Director, Center for Experimental Social Science and author of ‘Advice, Social Learning and the Evolution of Conventions’.         

“Economics: A Global Introduction provides a non-intimidating overview with great contemporary examples, presenting intuitive and yet precise presentation of key economic concepts. Prof. Chaudhuri accomplishes this through clear numerical examples and simple and effective graphs. I particularly like how experimental and behavioural methodology and results are interwoven throughout the text.”

—Tim Cason, Distinguished Professor and Robert and Susan Gadomski Chair in Economics, 2010-present; President, Economics Science Association, 2009-2011.

“This book introduces economics to non-economists in ways that they can keep the insights with them for the rest of their lives. Even in an introductory course it manages to delve into themes like AI, climate change and cryptocurrencies, while drawing on cutting edge research from behavioural and neuroeconomics.”

—Sudipta Sarangi, Professor and Chairperson of Economics, Virginia Tech, Author of ‘The Economics of Small Things’.

“This is a delightful and innovative economics textbook. Dr. Chaudhuri’s deep commitment to teaching and to the learning of his students comes through clearly on every page.  His relevant and meaningful approach to economic theory and economic thinking, dealing with the major social, political and economic issues that all of us face in today's world, is spirited and refreshing.  Most importantly, because of this spirited style, this book is one students will read for class and will use as a reference when the class is long over, no matter if they pursue economics or some other discipline in their studies. I am very impressed by this book, and I am certain it will be a major success.”

—Gary Gigliotti, Professor of Economics and Special Advisor (Academic Assessment), Office of the Executive Vice President for Academic Affairs, Rutgers University.

“Chaudhuri's new text, Economics: A Global Introduction, is a creative and lively introduction to economic principles designed for students with no background in the field. The text presents these principles, of both micro- and macroeconomics, in plain, appealing language in the context of timely and contemporary examples drawn from a wide range of countries and industries. From an early explanation of pandemic pricing behavior to an investigation of the role of regulation for firms like Google and Facebook and onto climate change, globalization, and recent currency crises, the text hits on many of the most important current global economic policy issues. This text's nontraditional approach to a traditional set of topics will be a breath of fresh air for instructors hoping to bring economics alive for their students and a welcome change from 'stuffier' traditional texts for the students themselves.”

—Susan Skeath von Mulbregt, Professor of Economics and Former Head of Department, Wellesley College and co-author of “Games of Strategy”.

“This book is a breath of fresh air from Professor Chaudhuri. There are many introductory economics textbooks; however, most have not adapted to the changing economic landscape. This book departs from traditional books by providing evidence from behavioural, experimental and empirical research to explain economic concepts. It makes clear to a principles student that economics is about "trying to understand the world around us." This book shows to an economics beginner that economics is relevant to the problems we face as a society, is hands on, interesting and fun. It has been a joy to read.”

—Praveen Kujal, Professor of Economics and Former Head of Department, Middlesex University

From the Publisher