How do labour markets work? Is it better to aim for inflation or full employment? How can developing countries escape the poverty trap?

Economics explores how we produce, consume and distribute resources and the incentives, financial or otherwise, that motivate our behaviour. As our approach to money and markets has changed over the centuries, great thinkers have sought to explain their workings. In this beautifully illustrated book, the author introduces you to the fascinating world of economics and its greatest practitioners.

Ranging from demand and supply to globalization and international trade to game theory and featuring ideas from such esteemed economists as Adam Smith, John Maynard Keynes and Milton Friedman, this essential guide will bring you up to speed on the core themes and theories of this great subject.

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The 50 Essential Ideas series brings together entertaining, highly visual guides to different disciplines, from philosophy to physics. It explores the subject's 50 greatest ideas, giving readers an accessible overview of its defining theories and breakthroughs.