Economics (3rd Edition, Volume 1 and 2)

Author: (American) Stiglitz, (American) Walsh, translated by Huang Xianfeng, Zhang Fan
Publisher:
Publish Date: 2005-06-01
Features: An Economics Reader for the Digital Age – Introduction to Stiglitz's Economics (3rd Edition)
Stiglitz's Economics is considered the most internationally influential principles of economics textbook since Samuelson's (same name textbook) was published. The 3rd edition of Economics not only inherits the characteristics of the previous two editions, emphasizing incomplete competition and information economics, and highlighting the microfoundations of macroeconomics and economic growth, but it is also a thoroughly revised and entirely new version. First, as strategic behavior has permeated modern economic analysis, the authors have added a chapter on "Game Theory." Second, significant adjustments have been made to the economic fluctuation models, such as using inflation and output to establish fluctuation models. Third, an in-depth analysis has been conducted on the 1997–1998 East Asian financial crisis, along with fair evaluations of the former Soviet Union and Eastern European countries, as well as China's economic transition. The biggest change in the 3rd edition may be the discussion on the "New Economy." The authors hope readers understand that "although the technology has changed, the economic laws have not." To this end, the authors have made substantial revisions to the 2nd edition, ensuring that readers systematically grasp modern economic theory while also focusing on how economic theory helps understand new economic phenomena and explain economic issues in the digital age. The authors hope this textbook can reflect the latest developments in economics and the way economists think about problems. Many of the new perspectives in the book are worth reflecting on and drawing inspiration from. As the authors state in "A Message to the Chinese Readers of Economics," "Although the main challenges faced by an economy may change over time, the underlying principles remain the same. Economics (3rd Edition) systematically and scientifically provides these principles to readers, enabling them not only to better understand China's current issues but also to anticipate future challenges."