Principles of Economics in a Nutshell provides a succinct overview of contemporary economic theory. This key text introduces economics as a social science, presenting the discipline as an evolving field shaped within historical context rather than a fixed set of ideas. Chapters on microeconomics introduce concepts of scarcity and tradeoffs, market analysis (the Marshallian cross of supply and demand) and the theory of the firm and market structure. Chapters on macroeconomics begin with an explanation of national income accounting, followed by discussions of macroeconomic theory in the goods market and in the money market from both a Keynesian and Classical view. The text concludes with examples of how to expand upon core material, introducing the perspectives of feminist and ecological economics. This book will be of great importance to students new to economics and is ideal for use on single-semester Principles courses or as a primer on economics courses in other settings. The text is fully supported by online resources, which include a set of analytical questions and suggestions for further reading for each chapter.

Students and instructors are living through a pandemic that has changed how and what they teach, and how and where they learn. The COVID-19 Update of Principles of Economics, Third Edition, provides the information that students need to make sense of the impacts COVID-19 has had on the economy. The Update Edition has been completely revised to include new examples, new data, new policies, and more. All of NortonÕs digital resources fully integrate with most learning management systems, providing the flexibility instructors need in this changed world.

Principles of Economics in Context lays out the principles of micro- and macroeconomics in a manner that is thorough, up to date, and relevant to students, attuned to the economic realities of the world around them. It offers engaging treatment of important current topics such as new thinking in behavioral economics, financial instability and market bubbles, debt and deficits, and policy responses to the problems of unemployment, inequality, and environmental sustainability. This new, affordable edition combines the just-released new editions of Microeconomics in Context and Macroeconomics in Context to provide an integrated full-year text covering all aspects of both micro and macro analysis and application, with many up-to-date examples and extensive supporting web resources for instructors and students. Key features include: An eye-opening statistical portrait of the United States; Clear explanation of basic concepts and analytical tools, with advanced models presented in optional chapter appendices; Presentation of policy issues in historical, institutional, social, political, and ethical context--an approach that fosters critical evaluation of the standard microeconomic models, such as welfare analysis, labor markets, and market competition; Issues of human well-being, both domestic and global, are given central importance, enriching the topics and analytical tools to which students are introduced; The theme of sustainability--financial, social, and ecological--is thoroughly integrated in the book, with chapters on alternatives to standard GDP measurement, the environment, common property, public goods, and growth and sustainability in the twenty-first century; Full complement of instructor and student support materials online, including test banks and grading through Canvas.