Significantly revised in light of sweeping changes in the economy and government, this book provides students with a grasp of basic economic tools through the analysis of important economic issues and their related policy perspectives. Economic theory is presented in a simple, market-oriented framework at a level of technicality that is deliberately appropriate for a basic first course in economics directed at non-majors. Complex topics more appropriate for a Principles of Economics course are left out or contained in appendices. In analyzing economic situations and the implications of policies, liberal and conservative viewpoints are effectively balanced. The text also encourages students to get involved in the issues discussed.
Part 1 Introduction to Economicsm Scarcity, Public Goods, and Spillovers
Part 2 The Economics of SocialIssues
Part 3 Global Poverty, Agriculture, and Trade
Part 4 Efficiency and Stability Issues
Part 5 You and the World Around You