ECONOMY, SOCIETY AND PUBLIC POLICY

In order to be well-governed, a democracy needs voters who are fluent in the language of economics and who can do some quantitative analysis of social and economic policy. We also need a well-trained cadre of researchers and journalists who have more advanced skills in these fields.

Many students in other disciplines are drawn to economics so that they can engage with policy debates on environmental sustainability, inequality, the future of work, financial instability, and innovation. But, when they begin the study of economics, they find that courses appear to have little to do with these pressing policy matters, and are designed primarily for students who want to study the subject as their major, or even for those destined to go on to post-graduate study in the field.

The result: policy-oriented students often find they have to choose between a quantitative and analytical course of study - economics - that is only minimally policy oriented in content and that downplays the insights of other disciplines, or a policy and problem-oriented course of study that gives them little training in modelling or quantitative scientific methods.

Economy, Society, and Public Policy changes this.

It has been created specifically for students from social science, public policy, business studies, engineering, biology, and other disciplines who are not economics majors. If you are one of these students, we want to engage, challenge, and empower you with an understanding of economics. We hope you will acquire the tools to articulate reasoned views on pressing policy problems. You may even decide to take more courses in economics as a result.

The book is also being used successfully in courses for economics, business, and public policy majors, as well as in economics modules for masters' courses in Public Policy and in Philosophy, Politics and Economics (PPE).

This textbook--the print complement to CORE's open-access online eBook--is the result of a worldwide collaboration among researchers, educators, and students who are committed to bringing the socially relevant insights of economics to a broader audience.

Unit 1 Capitalism and democracy: Affluence, inequality, and the environment
Unit 2 Social interaction and economic outcomes
Unit 3 Public policy for fairness and efficiency
Unit 4 Work, wellbeing, and scarcity
Unit 5 Institutions, power, and inequality
Unit 6 The firm: Employes, managers, and owners
Unit 7 Firms and markets for goods and services
Unit 8 The labour market and the product market: Unemployment and inequality
Unit 9 The credit market: Borrowers, lenders, and the rate of interest
Unit 10 Banks, money, housing, and financial assets
Unit 11 Market successes and failures
Unit 12 Governments and markets in a democratic society