Based on Joseph Stiglitz's ground-breaking Economics--which set new standards in the teaching of the subject to undergraduates--adapted by John Driffill of Birkbeck College, this textbook will be suitable for introductory courses in Britain, the Republic of Ireland and South Africa as well as many European countries.

Part 1 Introduction: Economics and the motor industry; basic principles; trade; demand, supply and price; using demand and supply; time and risk; the public sector. Part 2 Perfect markets; the consumption division; labour supply and savings; the firm's costs; production; competitive equilibrium. Part 3 Imperfect markets: monopolies and imperfect competition; oligopolies; government policies towards competition; technological change; imperfect information in the product market; imperfections in the labour market. Part 4 Policy issues: externalities and the environment; taxes, transfers and redistribution; public decision making. Part 5 Full-employment macroeconomics: macroeconomics goals and measures; the full-employment model; using the full-employment model. Part 6 Unemployment macroeconomics: overview of unemployment macroeconomics; aggregate demand; consumption and investment; money, banking and credit; monetary theory; fiscal and monetary policy. Part 7 Dynamics and macro policy: inflation - wage and price dynamics; unemployment - understanding wage rigidities; inflation versus employment - approaches to policy. Part 8 Issues in macroeconomic policy: growth and productivity; economic integration - the European Union; trade policy; alternative economic systems; development.