Summary

Based on the comprehensive two-semester text by the same authors, this version of Economics "boils down" the formal economic theories and concepts into their essential parts, emphasizing domestic and international applications and policy issues. Fundamentals of Economics is a concise but thorough survey of economics for instructors desiring a brief, practical text. Each chapter focuses on core economic concepts and provides a link between theory and real-world relevance, making the content more meaningful for students. The Fourth Edition provides a convenient, integrated learning experience by including a Study Guide after each chapter, which allows students to review key concepts and practice new skills before they go on to read the next chapter. Fundamental Questions at the beginning of each chapter preview key points, reappear next to the relevant in-text discussion, and form the basis of chapter-ending Summary sections. The design highlights these Fundamental Questions, making them easier to find within a chapter. Economic Insight and Global Business Insight boxes focus on the policies of today's leaders and the business decisions of real companies and governments around the world, adding real-world relevance to the material.