Economics - Theory in Action

Economics by Ken Heather offers a vibrant exploration into the realm of economic theory, addressing pressing questions that impact our everyday lives. The text brings to the forefront issues such as the government’s concern over inflation, the debate over fair wages, and the challenges posed by changing economic policies, including the discourse on currency. This engaging introduction encourages readers to explore how these controversial subjects affect society. Using a distinctive case-study approach, the book presents twenty carefully chosen cases that connect abstract economic theories with real-world scenarios. For example, the concepts of Supply, Demand, and Elasticity are examined through an analysis of stock market trends, while studies on oligopoly shed light on pricing dynamics within the airline industry. Through these practical examples, Economics not only clarifies complex ideas but also challenges readers to think critically about the interplay between theory and everyday economic issues.