• Summary
  • Contents
  • Subject index

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful for readers interested in learning about economic analysis of an issue as well for students embarking on research projectsFeatures chapters focused on cutting-edge topics with appeal for economists seeking to learn about extensions of analysis into new areas as well as new approaches Presents models in graphical format and summarizes empirical evidence in ways that do not require much background in statistics or econometrics, so as to maximize accessibility to students.

Political Economy of Oil
Political economy of oil

In contrast to more narrow economic analyses of oil, where the focus lies on the price formation and the conditions under which the “right” price for this nonrenewable resource can be obtained, political economy of oil studies the conditions and consequences of the production, appropriation, distribution, and consumption of oil (and oil-related products) by taking into account social relations of power (at local, regional, and global scales), cultural codes of consumption, institutional structures of surplus extraction, and ecological impacts of human activity. In this sense, again in contrast to economics of oil, political economy of oil is decidedly interdisciplinary—moving beyond economics, it draws upon political science and international politics, sociology and cultural studies, geology and geography, and ecology. ...

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