Practical Economics in an Ever-Changing World

No longer does economics have to be dull or frightening to students!

Practical Economics in an Ever-Changing World equips students with a working knowledge base of economics with a special focus on behavioral and psychological economics and economic applications and implications of the ever-growing field of sustainability. The interactive ebook impresses upon readers that regardless of their future career, economics will play some sort of role in their profession, because we live in a money-based society.

Students learn how understanding the science and philosophy behind the economy can provide them with a clearer picture of not only business, but politics, international relations, and more. They also learn how culture, psychology, subconscious games, strategic interaction, global and local politics, and human emotions all conspire to influence the economy in different ways.

The interactive ebook format allows students to read the text of each chapter and engage with digital learning activities throughout-including readings, videos, audio lectures, lecture transcripts, quizzes, homework assignments, and opportunities to create an ongoing student guide-all within a single system.

The book is organized into 25 chapters and features both original material from the author and editor, Rutherford Johnson, and readings and contributions from a variety of experts in the field. The opening chapter explains to students why they need to understand economics to understand other aspects of our world. Additional chapters discuss supply and demand, elasticity, cost and production, perfect competition, monopolies, and behavioral economics in action. Students read about public goods and public policy, making decisions under decisions of risk, financial markets, philosophies that influence the economy, macroeconomics, international trade, how banks work, poverty and economic inequality, and much more.

Providing readers with an engaging introduction, Practical Economics in an Ever-Changing World is an ideal textbook for foundational courses in economics.

Rutherford Johnson, Ph.D., ALM, M.Sc., FRGS is an international executive leader, behavioral scientist, economist, and sustainability specialist. Harvard and Georgia Tech educated with lifelong international, multicultural experience, he serves as a senior lecturer of economics at the University of Minnesota's Crookston campus and a fellow of the University of Minnesota Institute on the Environment. He holds a Ph.D. in agricultural economics with focus on behavioral/psychological economics from the University of Kentucky's College of Agriculture, Food, and Environment, a Master of Liberal Arts in the field of sustainability from the Harvard University Extension School, and a M.Sc. and B.Sc. in economics and applied physics respectively from the Georgia Institute of Technology (Georgia Tech). In 2018, he was elected a fellow of the Royal Geographical Society. In 2022, he was awarded the International Teaching Excellence Award for Region IV by the Accreditation Council for Business Schools and Programs. Outside of academia, he leads an international humanitarian corporation in special consultative status with the United Nations Economic and Social Council providing expert policy advice to the UN and government leaders around the world.