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The Holy Grail of Macroeconomics


The revised edition of this highly acclaimed work presents crucial lessons from Japan’s recession that could aid the US and other economies as they struggle to recover from the current financial crisis. This book is about Japan’s 15-year long recession and how it affected current theoretical thinking about its causes and cures. It has a detailed explanation on what happened to Japan, but the discoveries made are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macroeconomic spectrum of possibilities that conventional theorists have overlooked. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory- The Holy Grail of Macro Economics

Statistics for Business and Economics


This title enables students to conduct serious analysis of applied problems rather than running simple ‘canned’ applications. The text is at a mathematically higher level than most business statistics texts and provides students with the knowledge they need to become stronger analysts for future managerial positions.

Macroeconomics, Global Edition


For courses in Intermediate Macroeconomics. A Unified Approach to Economic TheoryDemonstrating a balanced treatment of both classical and Keynesian economics, Macroecomomics presents macroeconomic theory in a big-picture way. Comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi, and the text helps instructors prepare students to analyze real macroeconomic data used by policy makers and researchers. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions. The Ninth Edition features new applications, boxes, and problems throughout and reflects recent events and developments in the field in light of recent crises in the United States and Europe. MyEconLab® not included. Students, if MyEconLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyEconLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information. MyEconLab is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts.

Using Statistics in Economics


The primary aim of this book is to provide a text for economics students which gives a good balance between statistics and econometrics.The intention is to prepare students for an introductory course in econometrics, while instilling a clear understanding of statistics. It is suitable for first or second year courses in Introductory Statistics or Introductory Statistics and Econometrics on economics degrees. The book is characterized by Leighton Thomas’ clear style of explanation, gained through 35 years of teaching experience.


Microeconomics: Principles and Analysis 2nd Edition

$166.00 $121.40

The only text to provide an accessible and engaging overview of microeconomics without compromising on the technical level.

  • A wealth of examples engage students and make the relevance of microeconomic theory to the real world crystal clear
  • The maths appendix ensures that the technical knowledge students need at an advanced level is accessible to all
  • Covers recent developments in behavioural economics and auctions in chapter 12

New to this edition

  • The in-text examples have been enhanced for this edition: examples are now linked both through a given chapter, so that students can build up their understanding in a gradual way, and throughout the book, so that students can see how the same underlying concept applies in different areas.
  • Thirty new topical examples highlight the relevance of microeconomic theory to real-world scenarios
  • The maths appendix has been re-visited for clarity and accessibility

About the Author(s)

Frank Cowell, Professor of Economics, The London School of Economics

Table of Contents

1: Introduction
2: The Firm
3: The Firm and the Market
4: The Consumer
5: The Consumer and the Market
6: A Simple Economy
7: General Equilibrium
8: Uncertainty and Risk
9: Welfare
10: Strategic Behaviour
11: Information
12: Design
13: Government and the Individual


The Vanishing Middle Class: Prejudice and Power in a Dual Economy

$38.65 $30.90

Why the United States has developed an economy divided between rich and poor and how racism helped bring this about. The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America, and outlines ways to work toward greater equality so that America will no longer have one economy for the rich and one for the poor. Many poorer Americans live in conditions resembling those of a developing country — substandard education, dilapidated housing, and few stable employment opportunities. And although almost half of black Americans are poor, most poor people are not black. Conservative white politicians still appeal to the racism of poor white voters to get support for policies that harm low-income people as a whole, casting recipients of social programs as the Other — black, Latino, not like “us.” Politicians also use mass incarceration as a tool to keep black and Latino Americans from participating fully in society. Money goes to a vast entrenched prison system rather than to education. In the dual justice system, the rich pay fines and the poor go to jail.


Microeconomics Principles and Practice with Student Resource Access 12 Months

$87.50 $83.40

Microeconomics Principles and Practice is a top-tier, academically challenging text that complements Cengage’s suite of Economics titles. Cengage Australia’s second edition of Microeconomics Principles and Practice sees Frost and Schuwalow adapt Taylor’s revised reflections on the global financial crisis and how businesses are recovering. Examples of current events from Australia, New Zealand and the Asia-Pacific region help explain how discussions on the role of the government can affect the economy. Microeconomics Principles and Practice is concerned with concepts and understanding, which sets it apart from competitor texts.


Macroeconomics Principles and Practice with Student Resource Access 12 Months

$87.50 $83.40

Macroeconomics: Principles and Practice offers students concepts, intuition and understanding, supported by an ‘Economist’s toolkit’. This Toolkit consolidates appendix-style material into one section to show in a simple manner how calculations and models are used in the real world. This edition follows the same intuitive modular approach as the last and includes guidelines for instructors who prefer alternative, more traditional sequencing. Microeconomics concepts are explored throughout the text where needed, such as when reference is made to ‘supply and demand’. New chapters present macroeconomic theory more intuitively. Policy debates are explained in depth but in a simple and more modern way. The focus is on understanding concepts in a realistic context.

Globalizing Innovation


The impact of host country institutions and policy on innovation by multinational firms in emerging economies. In the past, multinational firms have looked to developing countries as sources of raw materials, markets, or production efficiencies, but rarely as locations for innovation. Today, however, R&D facilities and other indicators of multinational-linked innovation are becoming more common in emerging economies. In this book, Patrick Egan investigates patterns of inward foreign direct investment (FDI) in developing countries, considering the impact of host country institutions and policy on the innovative activities undertaken by multinational firms. He examines the uneven spread of innovation-intensive foreign direct investment and emerging sectoral distributions, then develops a number of arguments about the determinants of multinational innovation in developing countries. Firms are attracted by a country’s supply of skilled labor and are often eager to innovate close to new markets; but, Egan finds, host country institutions and the configuration of the host country’s investment policies have a strong impact on firm decisions and evolving country investment profiles. Egan uses econometric analysis to identify determinants of multinational innovation, and examines differences among state institutions as a key variable. He then offers a detailed case study, assessing Ireland’s attempts to use foreign direct investment in innovation as a catalyst for development. While FDI is a potential vehicle for industrial upgrading, Egan cautions, it is neither necessary nor sufficient for development. Furthermore, innovation-intensive investments are not likely to develop linkages with local actors or otherwise embed themselves in host economies in the absence of active, discriminating policies channeled through coherent and coordinated institutions.

When Things Don’t Fall Apart


Crises, change, and productive incoherence — Introduction: contesting continuity — Productive incoherence : a hirschmanian perspective — Setting the stage — The east asian financial crisis and neoliberalism : the beginning of the end of a unified regime — The global crisis and innovations in financial governance and developmental finance — Planting seeds, bearing fruit? : the group of 20 and the financial stability board — Imf stewardship of global finance — The changing institutional landscape of financial governance and developmental finance in emerging market and developing economies — Financial crisis, financial control — Where from here? — Conclusion: opportunities, challenges, and risks — Notes — Bibliography — Index

Macroeconomics 6th Global Edition


For courses in undergraduate Macroeconomics courses. A modern approach to teaching macroeconomics Macroeconomics uses a thoroughly modern approach by building macroeconomic models from microeconomic principles. As such, it is consistent with the way that macroeconomic research is conducted today. This approach allows for deeper insights into economic growth processes and business cycles-the key topics in macroeconomics. An emphasis on microeconomic foundations better integrates the study of macroeconomics with approaches learned in microeconomics and field courses in economics. By following an approach to macroeconomics that is consistent with current macroeconomic research, students become better prepared for advanced study in economics. The 6th Edition captures the latest developments in macroeconomic thinking, applied to recent economic events and developments in macroeconomic policy. With the financial crisis receding, new challenges that macroeconomists and policymakers currently need to address are covered in the text.


The Real Cost of Cheap Food 2nd Edition

$88.15 $71.20

This thought-provoking but accessible book critically examines the dominant food regime on its own terms, by seriously asking whether we can afford cheap food and by exploring what exactly cheap food affords us. Detailing the numerous ways that our understanding of food has narrowed, such as its price per ounce, combination of nutrients, yield per acre, or calories, the book argues for a more contextual view of food when debating its affordability. The first edition, published in 2011, was widely praised for its innovative approach and readability. In this new edition the author brings all data and citations fully up to date. Increased coverage is given to many topics including climate change, aquaculture, financialization, BRICS countries, food-based social movements, gender and ethnic issues, critical public health and land succession. There is also greater discussion about successful cases of social change throughout all chapters, by including new text boxes that emphasize these more positive messages. The author shows why today’s global food system produces just the opposite of what it promises. The food produced under this regime is in fact exceedingly expensive. Many of these costs will be paid for in other ways or by future generations and cheap food today may mean expensive food tomorrow. By systematically assessing these costs the book delves into issues related, but not limited, to international development, national security, healthcare, industrial meat production, organic farming, corporate responsibility, government subsidies, food aid and global commodity markets. It is shown that exploding the myth of cheap food requires we have at our disposal a host of practices and policies.