Principles of Economics

by Joseph E. Stiglitz, Carl E. Walsh, Jeffrey Gow

Principles of Economics, 2nd Australian edition, is an adaptation of an original work by internationally renowned economists Joseph Stiglitz and Carl Walsh. In addition to a thorough analysis of the contemporary economic landscape in Australia with updated statistics, figures, and political and business developments the second edition provides useful international comparisons with economies in Asia and Europe, as well as that of the United States. The adapting Australian author team has contextualised the content to suit the needs of Australian university students. Key introductory microeconomic and macroeconomics concepts are explained using the latest theory and research, with data relevant to the Australian economy. Throughout the text, these concepts are applied to contemporary local economic issues for businesses and individuals, such the Australian dollar the mining industry the National Broadband Network petrol prices privatisation the banking and finance sectors the automotive industry the carbon tax the ageing population skills shortages international trade. At an expanded 18 chapters for the second edition, this textbook is an ideal resource for a one semester university course in introductory economics.

528 pages, Paperback

First published February 13, 2014

About the author

Joseph Eugene Stiglitz, ForMemRS, FBA, is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is also the former Senior Vice President and Chief Economist of the World Bank. He is known for his critical view of the management of globalization, free-market economists (whom he calls "free market fundamentalists") and some international institutions like the International Monetary Fund and the World Bank.

In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. Since 2001, he has been a member of the Columbia faculty, and has held the rank of University Professor since 2003. He also chairs the University of Manchester's Brooks World Poverty Institute and is a member of the Pontifical Academy of Social Sciences. Professor Stiglitz is also an honorary professor at Tsinghua University School of Public Policy and Management. Stiglitz is one of the most frequently cited economists in the world.