Principles of Microeconomics

Abstract

My goal in this book is to transmit this way of thinking to the widest possible audience and to convince readers that it illuminates much about their lives and the world around them. Economics aims to understand the world in which we live. Most chapters of this book include Case Studies that illustrate how the principles of economics can be applied. In the News boxes offer excerpts from newspapers, magazines, and online news sources to show how economic ideas shed light on current issues facing society. After students finish their first course in economics, they should think about news reports from a new perspective and with greater insight. To keep the study of economics fresh and relevant for each new cohort of students, I update each edition to keep pace with the ever-changing world