Principles of Economics

Principles of Economics by Betsey Stevenson (University of Michigan), and Justin Wolfers (University of Michigan) emphasises that every decision is an economic decision.

The authors’ focus on useful economics uses compelling explanations and real-life examples to help students develop and apply economic intuition to their everyday decisions. They provide a thoroughly fresh take on a wide range of foundational topics in an engaging presentation that has drawn enthusiastic feedback from both instructors and students.

Features:

• An intuitive decision-making framework based on four key principles is referenced throughout the text and guides students to make better choices in all aspects of their lives.
• With an unparalleled presentation of the basics, there are dedicated, full chapters on supply, demand, and equilibrium that walk students patiently through these topics. This aligns with how many instructors already teach – by working through these foundational concepts over several lectures.
• A modern approach to Microeconomics integrates the current economic insights into the principles curriculum, with emphasis on empirical data and behavioral economics, labor and personnel economics, industrial organization, strategic decision making, and information asymmetries.