Principles of Economics in Context 2nd Edition

Principles of Economics in Context, Second Edition
by Neva Goodwin, Jonathan Harris, Julie Nelson, Pratistha Joshi Rajkarnikar,
Brian Roach, & Mariano Torras

Principles of Economics in Context is designed as a single text for students in a full-year introductory course. This innovative, principles-level text takes a broad “contextual” approach to economics—including serious consideration of ecological, feminist, and social concerns—while still including coverage of the standard economic concepts and models. Emphasizing writing that is compelling, clear, and attractive to students, it addresses such critical concerns as ecological sustainability, distributional equity, the quality of employment, and the adequacy of living standards. Order the Second Edition now.

For a free exam copy, please contact Routledge.
Pre-Order Hardback: $120.00   

Principles of Economics in Context

Preview the book:
Access the Table of Contents.
Access the following sample chapters:

Instructors can access teaching materials, including test banks. Please indicate what course you teach and provide proof of your instructor status (e.g. a link to your bio).

Student Supplements
Access student study guide and PowerPoint Slides for the Second Edition and First Edition..

New Material in Second Edition
The first edition of this book was published in 2014; much has happened in the world since then— and many real-world events have been reflected in new ways of understanding and teaching about the economy. In addition to updating data in the text, tables, figures, and boxes, the second edition of Principles in Context has been extensively revised and refreshed in response to new economic developments. Some of the most significant revisions include:

  • Significantly revised chapters on globalization and trade, economic and social inequality, labor markets, financial instability, and environmental sustainability;
  • Expanded coverage of discussion on consumer behavior including insights from neuroeconomics and policy inferences from behavioral economics;
  • More coverage of global issues with new sections on global inequality, informal sphere in developing countries, and U.S./China trade relations;
  • New material on wage discrimination by race and gender and causes and consequences of inequality;
  • Updated discussion of fiscal and monetary policies to include more recent developments such as the Trump tax cuts and the changing Fed policy under Chairs Yellen and Powell;
  • New section on theories of financial instability, impacts of financialization, and updated data and information on deficits and debt;
  • Expanded discussion of the theories of sustainability and recent developments in environmental issues such as climate change.
  • View a detailed list of differences from the First Edition.

Key Features

    • Key terms are highlighted in boldface throughout the text, and important ideas and definitions are set off from the main text;
    • Discussion questions at the end of each section encourage immediate review of what has been read and relate the material to the students’ own experiences. The frequent appearance of these questions throughout each chapter helps students review manageable portions of material, and thus boosts comprehension. The questions can be used for participatory exercises involving the entire class or for small- group discussion;
    • Review questions at the ends of chapters are designed to encourage students to create their own summary of concepts. They also serve as helpful guidelines to the importance of various points;
    • Exercises at the ends of chapters encourage students to work with and apply the material, thereby gaining increased mastery of concepts, models, and investigative techniques;
    • Throughout the chapters, boxes enliven the material with real- world illustrations drawn from a variety of sources regarding applications of economic concepts and recent economic developments;
    • In order to make the chapters as lively and accessible as possible, some formal and technical material (suitable for inclusion in some but not all course designs) is carefully and concisely explained in chapter appendices;
    • A glossary at the end of the book contains all key terms, their definitions, and the number of the chapter(s) in which each was first used and defined.


Praise for Principles of Economics in Context

“This is the absolute hands-down, no-question-about-it best principles text I have ever seen or used.” 
– Professor Judith Robinson, Castleton State College

“I have adopted this text for the following reasons: (1) It’s reasonably priced if students buy it online. (2) It presents both the standard neoclassical information that I feel obligated to teach, BUT it is great on critique and alternative views. (3) It covers the environmental issues, which may be the world’s biggest challenge right now, better than any other text I’ve seen. (4) It gives serious space to behavioral economics and a multidisciplinary approach.”
Susan Jacobson, Regis College

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