This is a book about economics as the study of what people do and how they interact, a study very much informed by real-
Dear Students and Instructors,
These words, this spirit, have served as a guiding principle for us in every edition. While we were driven to write this book by many small ideas about particular aspects of economics, we also had one big idea: an economics textbook should be built around narratives, many of them pulled from real life, and it should never lose sight of the fact that economics is, in the end, a set of stories about what people do.
Many of the stories economists tell take the form of models—
You’ll find a rich array of stories in every chapter, in the chapter openers, Economics in Actions, For Inquiring Minds, Global Comparisons, and the end-
We also include pedagogical features that reinforce learning. For example, each major section ends with three related elements devised with the student in mind: (1) the Economics in Action: a real-
Students also benefit from the impressive set of online resources in
that are linked to specific chapter content. These include adaptive quizzing, tutorials, interactive activities, and much more. All have been devised with the goal of supporting instructor teaching and student learning in the one-
We hope that your experience with this text is a good one. Thank you for introducing Essentials of Economics into your classroom.