The Economy 2.0

The spirit of The Economy. The content of today.
 

This page at a glance. Click to jump to a section.

This page was last update on 16 April 2024.

When it arrives – The Economy 2.0: Macroeconomics timeline!

› The Economy 2.0: Microeconomics is available online.

Below is the publication timeline of The Economy 2.0: Macroeconomics:

  • Units 1-5 will be available online from May
  • Units 6-10 will be available online from August
  • The print book will be available to buy in late Autumn 2024

Consult the table of content of the The Economy 2.0: Macroeconomics

Updating CORE Econ’s flagship textbook The Economy 1.0

The world has changed since the first edition of The Economy 1.0 in 2017, and so have the ways to explain it.

CORE Econ has updated the tools students need to understand and address the challenges of today’s world, so we can continue in our mission to introduce students to what economists do now, and what we know.

What issues do students think economics should address?

The Economy 2.0 brings together the latest research in economics and related disciplines, with the feedback we’ve received over the years.

See how it will better meet your teaching and learning needs.

The Economy 2.0 retains CORE Econ’s distinguishing features

Content

We use simple ideas from game theory, behavioral economics and constrained optimization to study the decisions of owners, entrepreneurs, employers, workers, customers and governments – and how they interact. Inequality is embedded within the model because the interactions of the actors depend on the extent of their power and specific endowments. Sustainability and distributional concerns follow as straightforward applications of the models.

Today’s economics for today’s problems.
Developing economic intuition.

Pedagogy

Students experience economics as a powerful tool to understand their world and its problems. They develop an economic intuition and an understanding of how economists learn from facts. We bring to the foreground market and government failures and how changes in the rules of the game (whether policies or institutions) affect efficiency, inequality and sustainability.

Instructors supported from the onset

Instructors are supported with a full set of slides, games, step-by-step model-teaching videos, answers and test banks ready to go. Our open access digital-first content includes figures and data charts that students can manipulate, and instant-feedback review questions compatible with Moodle and Canvas, for ease of integration with instructors’ learning management systems.

Free for everyone. Really.

Compare The Economy 2.0 with The Economy 1.0, unit by unit

Microeconomics volume  
These units in The Economy 2.0: Microeconomics correspond to… …these units in The Economy 1.0
1. Prosperity, inequality, and planetary limits    1. The capitalist revolution
2. Technology and incentives 

Watch how Units 1 and 2 discuss the role of colonial rule and slavery in the British Industrial Revolution

2. Technology, population, and growth
3. Doing the best you can: Scarcity, well-being, and working hours  3. Scarcity, work, and choice
4. Strategic interactions and social dilemmas  4. Social interactions
5. The rules of the game: Who gets what and why  5. Property and power: Mutual gains and conflict
6. The firm and its employees 

The labour market model now integrates a search-and-matching model and the labour discipline model. CORE’s Margaret Stevens explains how.

6. The firm: Owners managers, and employees
7. The firm and its customers 7. The firm and its customers
8. Supply and demand: Markets with many buyers and sellers 8. Supply and demand: Price-taking and competitive markets
9. Lenders, borrowers, and differences in wealth  10. Banks, money, and the credit market (only the part about the credit market)
10. Market successes and failures: The societal effects of private decisions 12. Markets, efficiency, and public policy

 

Click on the    icon next to the unit titles to read more about how they’re changing.

Macroeconomics volume  
These units in The Economy 2.0: Macroeconomics correspond to… …these units in The Economy 1.0
1. The supply side of the macroeconomy: Unemployment and real wages   9. The labour market: Wages, profits, and unemployment
2. Unemployment, wages, and inequality: Supply side policies and institutions   New
3. Aggregate demand and the multiplier model   13. Economic fluctuations and unemployment

14. Unemployment and fiscal policy

4. Inflation and unemployment   15. Inflation, unemployment, and monetary policy
5. Macroeconomic policy: Inflation and unemployment   14. Unemployment and fiscal policy

15. Inflation, unemployment, and monetary policy

6. The financial sector: Debt, wealth, capital and money 10. Banks, money, and the credit market (only the part about banks and money)
7. Macroeconomic policies in the global economy New
8. Economic dynamics: Financial and environmental New
9. Global growth and inequality New
10. Creative destruction and the future of work, inequality and the planet New

 

Consult a more detailed version of the table of contents of The Economy 2.0: Macroeconomics

Adopt or switch to The Economy 2.0

Interested in adopting or switching to The Economy 2.0 but would like advice?

Would you like to hear from instructors who have adopted The Economy 2.0?

You can talk with us!

Email Giacomo Piccoli, Outreach & Adoptions, at [email protected]

We’re no longer updating The Economy 1.0

With The Economy 2.0 now available, we’re no longer updating The Economy 1.0. We last updated it on 31 March 2022, when:

  • the last batch of errata was implemented, and
  • the data charts were updated with the latest data available.

You can keep using The Economy 1.0, together with all its instructor and learner resources. It will always be free.