Economics: The Basics

Now in its fourth edition, Economics: The Basics continues to provide an engaging and topical introduction to the key issues in contemporary economics.

The new edition has been fully updated to take into account recent world economic events and key developments, such as the impact of the Covid-19 pandemic and the war in Ukraine, recurring financial crises, deglobalisation and changing patterns in international trade, the rise of China, the digital economy, rising inflation, and housing and currency markets. It covers fundamental issues, including:

• How different economic systems function
• The boom-and-bust cycle of market economies
• The impact of multinational corporations
• How price, supply and demand interact
• The role of the banking and finance industry
• Whether we can reduce poverty and protect the environment

With a glossary of terms, suggestions for further reading and new case studies, this comprehensive and accessible guide is essential reading for first-year undergraduate economics students and anyone who wants to understand how economics works.

Tony Cleaver is a retired Senior Teaching Fellow in Economics at the University of Durham, UK. Originally from London, Cleaver has been a journalist, hippy, teacher, road sweeper, mountain guide, university lecturer and writer. He has lived and worked in the UK, Singapore, Chile, The Netherlands and Colombia - all of which have inspired his interest in international economics.