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Foundations of Economics

Fifth Edition

Andrew Gillespie

29 March 2019

ISBN: 9780198806523

720 pages

In Stock

Price: £54.99

The most accessible and user-friendly foundations of economics textbook available.


Foundations of Economics provides an engaging introduction to core economic concepts, consistently emphasising how and why an insight into economics helps us understand everything going on in the world today.

  • Provides full coverage of the economic concepts students need to know, with exceptional clarity
  • 'Economics in context' boxes and frequent case studies throughout clearly demonstrate the relevance and application of economic principles in the real world
  • The in-text features have been carefully crafted to help students develop the key skills employers are looking for, such as critical thinking and data analysis
  • Also available as an e-book with functionality, navigation features, and links that offer extra learning support

New to this edition

  • Brand new chapter on Behavioural Economics
  • Even more case studies and examples, to illustrate how economics works in the real world
  • Comprehensive online support has been further extended to include video solutions to exercises, and larger self-test questions and lecturer testbanks

About the Author(s)

Andrew Gillespie, Head of Business and Marketing Director, d'Overbroecks, Oxford and Associate Lecturer, Oxford Brookes University

Table of Contents

    Part 1: Microeconomics
    1:What is economics?
    2:The production possibility frontier (PPF)
    4:Behavioural economics
    5:The elasticity of demand
    7:Market equilibrium
    8:The free market system
    9:Intervening in the market system
    10:Costs: Short run and long run
    11:Revenues, costs, and profits
    12:Perfect competition
    15:Monopolistic competition and non-price competition
    16:The labour market
    Part 2: Macroeconomics
    17:Introduction to macroeconomics
    18:Equilibrium in the economy
    19:National income and the standard of living
    20:Demand side and supply side policies
    21:Influences on aggregate demand: Consumption
    22:Influences on aggregate demand: Investment
    23:Influences on aggregate demand: Government revenues and taxation
    24:Influences on aggregate demand: International trade, globalization, and exchange rates
    25:Government objectives: Economic growth and the economic cycle
    28:Government objectives: Managing inflation
    29:Government objectives: Achieving a favourable trade position
    30:Government policies to achieve objectives


"An excellent introduction to economics for beginners preparing to study the subject for the first time." - Keith Laker, Regent's University London

"This book is inspiring. The style is very attractive for beginners and the beautiful figures are easy to read and understand." - Ulla Lehmijoki, University of Helsinki

"The writing style is very clear, simpler, and precise. It is the ideal, concise introduction to economics for beginners." - Yioryos Makedonis, Queen Mary University of London

Additional Resources

The accompanying online resources include a wealth of free-to-access materials including:

Multiple choice questions
Advanced material
Author blog
Flashcard glossaries
Solutions to questions in the book
Visual walkthroughs of the trickier concepts in the book
Additional 'advise the government' questions to help draw together ideas on government policy and key economic issues
Additional chapter on Business Strategy for students wanting material on broader business issues, such as PESTEL and SWOT analysis
Web links

Adopting lecturers can also register to receive access to the following resources:
Dynamic PowerPoint slides
Instructor's manual
Test bank
Guide to the 'advise the government' questions