Economics: An introduction

Since Economie. Een inleiding was first published in 1977, economics has undergone ceaseless change. Technology has transformed our lives, with new companies such as Microsoft, Apple, Amazon or Alphabet each now worth in excess of $1 trillion on the stock market. We have seen a surge in international economic traffic, in part driven by the spectacular economic growth of the Chinese economy. Since the first edition was published, the financial world has also experienced a number of major economic shocks. The 2007-2008 global financial crisis, the Eurozone debt crisis and, of course, the Covid pandemic are just a few more recent examples. Environmental pollution, and awareness of its potentially devastating human and economic impact has also risen exponentially since the first edition. This economic evolution, punctuated with unremitting crisis and calm has raised interesting questions. What consequences has the emergence of superstar companies had on market competition? How do we evaluate the impact of ever growing globalisation? Why was China’s economic growth such a stand out powerhouse performance, whilst other countries produced nothing more than stagnation throughout large parts of the period? Which mechanisms might have been significant causes of the major shocks the global economy underwent? How can governments address environmental issues? This handbook does not provide definitive answers to these questions, but instead, lays out a clear theoretical framework for understanding and analysing the key economic issues. Moreover, through the digital platform, we offer exercises, supplements and a deeper dive into all the subjects covered. The book is suitable for students, teachers, specialists and laypersons who want to master the basics of economics. Editors: Erwin Ooghe and Tom Verbeke Authors: Karolien De Bruyne, Simon De Jaeger, Hans Degryse, Johan Eyckmans, Marjan Maes, Erwin Ooghe, Nicky Rogge, Patrick Van Cayseele, Stijn Vanormelingen, Tom Verbeke, Dieter Verhaest and Andre Watteyne