Book excerpt: This book considers recent advances in household economics, consumer behaviour and economic policy and examines their interrelationship and impact on growth, development, trade and welfare policy in world economies in the 21st century. Researched and written by authorities in these emerging areas from North America, the European Union and Australia/Oceania, the book has the timely advantage of bringing together in one place the development of diverse concepts and important applications in these areas. It is a must-have for academics, and will be used on advanced courses on household economics and production, demand analysis, economic policy, social security and welfare economics. It will also be of interest to trade and welfare policy-makers world-wide.