Crops for biofuels drive up food prices
Falling dollar alarms exporters
Least affordable houses in the world
Government intervenes in sale of carbon credits
Many of the headlines we see every day are about Economics. They concern the production, distribution and consumption of goods and services in a world that has never had enough resources to meet all the needs and wants of human beings.
This is what Economists study: how the particular mix of goods and services that we do get is produced and distributed. They also study the national policies and rules we develop to make our systems of production and distribution work better (we hope).
Economics was the first social science, using the techniques of science to describe and explain how these aspects of society work. As with climate science, which also finds it difficult to carry out real-life experiments, mathematical models are used to help understand complicated reality, explain the past and predict the future: what happens if I change this variable....?
Senior Economics has been revised to make the language and ideas of Economics more accessible than ever, while retaining the intellectual rigour of the subject that is rewarding in its own right. Throughout the text, up-to-date examples and case studies are used to enhance students’ understanding, which is tested at frequent intervals by carefully written activities and exercises. Flowcharts, photographs, lists, learning objectives, graphs and tables, all in full colour, have been provided throughout for today’s visually sophisticated learners.