Now in its fourth edition, Economics: The Basics continues to provide an engaging and topical introduction to the key issues in contemporary economics. The new edition has been fully updated to take into account recent world economic events and key developments, such as the impact of the Covid-19 pandemic and the war in Ukraine, recurring financial crises, deglobalisation and changing patterns in international trade, the rise of China, the digital economy, rising inflation, and housing and currency markets.It covers fundamental issues, including:How different economic systems functionThe boom-and-bust cycle of market economiesThe impact of multinational corporationsHow price, supply and demand interactThe role of the banking and finance industryWhether we can reduce poverty and protect the environmentWith a glossary of terms, suggestions for further reading and new case studies, this comprehensive and accessible guide is essential reading for first-year undergraduate economics students and anyone who wants to understand how economics works.