Microeconomics in Context

Microeconomics in Context, Fifth Edition
by Neva Goodwin, Jonathan Harris, Julie Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, & Mariano Torras

This text lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Macroeconomics in Context, the book is uniquely attuned to economic, social, and environmental realities. The “in Context” books offer affordability, accessible presentation, and engaging coverage of current policy issues from economic inequality and global climate change to taxes and globalization. The Fifth Edition of Microeconomics in Context provides updated material on behavioral economics, labor markets, inequality, and climate change.

Order the Fifth Edition via Routledge.

Paperback: $59.96   Hardback: $168.00   eBook: $59.96


For a free exam copy, please contact Routledge.

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Student Supplements
Access student study guide and PowerPoint Slides for the Fifth Edition and Fourth Edition

Preview the Fifth Edition 
In the new edition, all chapters have been revised and updated with new data tables and figures, and hundreds of new references to reflect current research and policy debates. Key changes include more international data and increased focus on issues of inequality and environmental sustainability, as well as new material on behavioral economics, labor markets, inequality, climate and environment, trade, and the impacts of the pandemic. The latest addition to the “in Context” series combines real-world relevance with a thorough grounding in multiple economic paradigms. A brief summary explains key features of the Fifth Edition.

Preview the Table of Contents and sample chapters:

Chapter 2: Markets and Society

  • Updated data on paid and unpaid work by gender
  • Updated data on the relative size of the different spheres of the economy, including the informal sphere in lower-income countries
  • More streamlined discussion of the different types of markets

Chapter 7: Economic Behavior and Rationality

  • Discussion of the most-recent research on behavioral economics, including neuroeconomics, the ultimatum game, and social trust
  • New box on the use of social comparisons to motivate energy conservation

Chapter 9: Markets for Labor

  • New material about the impact of the COVID-19 pandemic on labor markets
  • Discussion of new research on labor market discrimination by race and gender
  • Expanded discussion of gig workers
  • New box on the Great Resignation
  • New material on the relationship between work-life balance and well-being

Chapter 10: Economic and Social Inequality

  • Extensively updated data on national and international inequality 
  • New material on the relationship between economic inequality and well-being
  • Discussion of the impact of the COVID-19 pandemic on economic inequality
  • Expanded discussion of inequality in lower-income countries

Chapter 13: Common Property Resources and Public Goods

  • Extensively revised section on global climate change
  • Discussion of the 2021 Glasgow Climate Pact
  • Updated analysis of the dramatic decline of renewable energy costs
  • New box on the consistent inaccuracy of past renewable energy forecasts


Praise for Microeconomics in Context

“In my endorsement of the previous edition of Microeconomics in Context, I called it ’hands down
the best’. This new edition is even better. Not only is it still very accessible to students, but it is even
more highly relevant. The authors present the economy as fully embedded in its wider context – social,
political, historical, and environmental – and then bring in a rich understanding of economic theory
to help us not only to understand the world, but also to change it.”
– Professor Judith Robinson, Castleton State College

“This textbook shifts our thinking and teaching about microeconomics! The integration of cutting-edge economic insights and applications to underexplored issues of unpaid labor, inequality, climate change, and globalization makes the book relevant and engaging. With this contextual approach and the tools offered, we are better equipped to promote improvements in societal well-being.”
– Professor Fiona MacPhail, University of Northern British Columbia


Microeconomics in Context, Fourth Edition
by Neva Goodwin, Jonathan Harris, Julie Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, & Mariano Torras

Fourth Edition Materials
Preview the Table of Contents and sample chapters:

Student Supplements

Changes in the Fourth Edition
The Fourth Edition includes new material on economic inequality, environmental policies, behavioral economics, taxes, and labor issues. A brief summary explains key features of the Fourth Edition.

Microeconomics in Context, Third Edition
by Neva Goodwin, Jonathan Harris, Julie Nelson, Brian Roach, & Mariano Torras

Cover for Microeconomics in Context, Third EditionThird Edition Materials

See Table of Contents

Preview the first 24 pages

Sample chapters from the Third Edition:

Student Supplements

Changes to the Third Edition
The Third Edition is is thoroughly updated and corrected, printed in black-and-white in order to make it economically-priced. A one-page summary of changes that describes the nature of the most substantive updates and corrections is available.


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