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"Now in its fourth edition, Economics: The Basics continues to provide an engaging and topical introduction to the key issues in contemporary economics. The new edition has been fully updated to take into account recent world economic events and key developments, such as the impact of the COVID-19 pandemic and the war in Ukraine, recurring financial crises, deglobalization and changing patterns in international trade, the rise of China, the digital economy, rising inflation, and housing and currency markets. It covers fundamental issues, including: -How different economic systems function -The boom-and-bust cycle of market economies -The impact of emerging markets -How price, supply and demand interact -The role of the banking and finance industry -Whether we can reduce poverty and protect the environment With a glossary of terms, suggestions for further reading and new case studies, this comprehensive and accessible guide is essential reading for first-year undergraduate economics students and anyone who wants to understand how economics works"--

1. Going to market -- 2. Market failure and the great debate -- 3. Unemployment and inflation -- 4. Free trade, regional agreements and job losses -- 5. The trade in primary resources : blessing or curse? -- 6. Customs unions and common markets -- 7. Money, banking and international finance -- 8. Exchange rates and currency union -- 9. Financial crises, sovereign debt and future reform -- 10. Economic development, growth and inequality -- 11. The economics of terrorism -- 12. Environmental economics : sustaining spaceship earth -- 13. Conclusion : what future awaits us in the twenty-first century and beyond?