Author Description

The hallmark of this introduction to economics is its knack for making the material relevant to everyday life, presenting the economic way of thinking for those new to the subject. Highlights include an expanded emphasis on economic theory -- a new chapter on marginal reasoning and profit maximization is the unifying theme of the microeconomics chapters. The macro chapters are built around the framework of the aggregate demand-aggregate supply model. The new edition also features: additional discussion of game theory, new coverage of economies and diseconomies of scale, revised coverage of fiscal policy, and in-depth coverage of international trade and finance. Together, all these features offer a strong foundation for understanding economics today.