Mockup of two printed books

The Economy 2.0

Economics for a changing world

An open-access textbook for any first course in economics, whether principles, micro, or macro.

Read The Economy 2.0: Microeconomics Read The Economy 2.0: Macroeconomics Read The Economy 1.0

The Economy 2.0 is a complete introduction to economics and the economy. It's student-centred and motivated by real-world problems and real-world data. The Economy 1.0 is CORE Econ’s original textbook, still available.

The Economy 2.0

Full table of contents
Building a scaffold with bamboo in Hong Kong.

Preface
We're changing the way economics is taught

Learn more about our mission and what makes The Economy 2.0 a unique textbook.

A giant bushfire burning out of control near Cape Town, South Africa in 2009

Unit 1
Prosperity, inequality, and planetary limits

How capitalism revolutionized the way we live, and how economics attempts to understand this and other economic systems.

Production of made-to-measure suits, at the KuteSmart firm in Shandong, China.

Unit 2
Technology and incentives

How improvements in technology happen, and how they sustain growth in living standards.

Commuters rushing to work across Reuters Square

Unit 3
Doing the best you can: Scarcity, wellbeing, and working hours

How individuals do the best they can within the options available, and how they resolve the trade-off between earnings and free time.

Irrigated Rice Terrace Fields in Yuanyang County, Yunnan Province, China

Unit 4
Strategic interactions and social dilemmas

How, when social dilemmas arise from self-interested behaviour, a combination of social norms, a regard for the wellbeing of others, and appropriate institutions may lead to more desirable social outcomes.

Suffragettes on their way to Boston

Unit 5
The rules of the game: Who gets what and why

How institutions influence the fairness and efficiency of the outcomes that result when people interact in the economy.

Woman working late from home

Unit 6
The firm and its employees

How the interactions among the firm’s owners, managers, and employees influence wages, work, and profits, and how this affects the entire economy.

Shelves full of bottled water for sale in supermarket

Unit 7
The firm and its customers

How a profit-maximizing firm producing a differentiated product interacts with its customers.

People buying vegetables from a vegetable market, Municipal Market, Panaji, North Goa, India

Unit 8
Supply and demand: Markets with many buyers and sellers

How markets work in competitive equilibrium, when all buyers and sellers act as price-takers.

A pawnbroker's building in Detroit, Michigan.

Unit 9
Lenders and borrowers and differences in wealth

How borrowing and lending expand opportunities for mutual gain, and the factors that limit their capacity to accomplish this.

Pacific ocean and plastic waste

Unit 10
Market successes and failures: The societal effects of private decisions

How credit, money, and banks expand opportunities for mutual gain, and the factors that limit their capacity to accomplish this.

Behind the book

We are a cooperative of knowledge producers committed to free digital access to The Economy.

We want as many people as possible to be able to reason about, and act to address, the challenges of the twenty-first century economy, society, and biosphere. Our hope is that the best of economics can become part of how all citizens understand and seek to address the problems that we confront.

Read more about the book
Thumbnail portrait of Camila Cea

We want to change the way economics is taught. Students in economics all over the world are asking: “Why has the subject of economics become detached from our experience of real life?”

Camila Cea

University of Chile

Thumbnail portrait of Wendy Carlin

New problems now challenge introductory courses: mounting inequalities, climate change, concerns about the future of work, and financial instability. The tools to address them are available, can be accessible, engaging, and coherent to first-year students.

Wendy Carlin

UCL, CORE director

Thumbnail portrait of Samuel Bowles

People today think that economics should be addressing inequality, climate change, instability, the future of work, and innovation. But none of these issues play any substantial role in what our introductory economics students are learning.

Samuel Bowles

Santa Fe Institute, CORE author

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