Includes bibliographical references and index.

PART 1: MICROECONOMICS ; PART 2: MACROECONOMICS

Is there more the government could do to help the UK economy grow faster? What will happen to house prices in the future? Is competition good for consumers? An understanding of economics will not just help you to understand the world around you, it will also help you to make sense of the issues that directly affect you. Foundations of Economics is an essential introduction to the subject designed specifically with undergraduate students in mind. The author's highly accessible and engaging writing style is combined with a wealth of questions, examples, reflection points, and case studies to ensure students fully understand key topics, and are able to develop and apply their knowledge throughout. The book is divided into two clear parts to help students navigate and connect the main principles of economics. Part one focuses on microeconomics and individual markets, by analysing topics such as demand, supply, costs, competition, and the free market. This ensures students have a sound grasp of the key microeconomic theories underpinning the subject. The second part of the book then tackles macroeconomic issues and the wider economy, by exploring contemporary topics including fiscal policy, unemployment, inflation, economic growth, and international trade. The fourth edition offers increased coverage of European and international issues, including more comparative examples between the UK and other global economies and two new sections on the role of the European Central bank and on austerity.