Offering a unique blend of solid theoretical content and student accessibility, this text: 1) covers all the basics of macroeconomics and microeconomics, 2) gives students a clear idea of how economists think about the world, 3) stresses the key concepts in economics, and 4) is extremely rich in intriguing applications that convey the prevalence of economics in everyday life. Many principles instructors are constantly challenged with the goal of getting students excited about realization that economics iseverywhere! Arnold has taken this to another level. He is so passionate about touching his students that he felt the need to write aprinciples book that is dedicated to opening the science of economics through the pictures and applications of our lives. Arnold isconsidered the most innovative author in this market to meet the fast pace interests of both instructors and students. His five themes ofTheory and Model building, Key Concepts, Primary and Secondary Consequences, Real-World Applications, and the idea that Economics isabout gifts, exchanges, and transfers, set the tone for a teaching text that is extremely approachable by instructors and students.

Since introducing the aggregate supply/aggregate demand model as a fundamental tool for learning economics in the first edition of their textbook, William Baumol and Alan Blinder have, for over two decades, led the teaching and learning of economic with their authoritative and timely discussion of the field. Now in its eighth edition 2001 Update, Microeconomics: Principles and Policy remains a time-tested tool in teaching and learning the ever-evolving field of economics.