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The effects of economic decision making are far-reaching. Economics is more than just business--the course of government, society, and more has been determined, to a large degree, by economic players. This comprehensive volume takes a three-pronged approach to introduce readers to the essentials of economics: after providing an overview of basic economic concepts, it chronicles the development of economics as a discipline and then launches into an examination of the various economic systems in existence. Key economic thinkers and critical concepts are spotlighted in sidebars throughout the text to provide readers with a complete foundation in this vital social science.

This text aims to introduce the beginning student to the ... theoretical knowledge that economists possess. It also illustrates the usefulness of economic theory with a wealth of applications ... This text takes the "internation evolution" a step further by covering such topics as comparative advantage, the strategic trade model, and exchange rate theory early in the text ... and then integrating the use of these ideas throughout.-Pref. [Cont. from TofC] Perfectly competitive labor markets; Imperfectly competitive labor markets; Markets for natural and capital resources; Personal distribution of income, riches vs. poverty -- Government in the microeconomy: Antitrust policy; Regulation; Externalities and environmental economics; Public goods and public choices; Redistribution of income -- Glossary

For students or anyone else who needs a refresher course in economics. This updated edition defines and distinguishes between macroeconomics and microeconomics. It demonstrates the uses of graphs and discusses the law of supply and demand, which is fundamental to understanding economic principles. A Macroeconomics section covers topics that include national output, inflation, types and costs of unemployment, aggregate demand and supply, the Keynesian model, fiscal and monetary policy, and open-market macroeconomics. Microeconomics topics covered include monopolies, forces that promote competition, game theory, labor markets and unions, economic profits, government spending, and taxation.--From publisher description