Principles of Economics

This third edition teaches the tools and principles that are standard for introductory economics, in a way that students can see the applications for the U.S. and world economy. The facts, anecdotes, and explanations have been scrutinized and updated throughout. In addition, this book has been structured since the first edition to mix in international topics and to consider product, labor, and capital markets side by side, which helps it apply easily to so many of the topics now in the news: effects of globalization on growth and labor markets, budget deficits, the minimum wage, health insurance, and many more. As an adopter of the second edition said, “I have listened to all of Tim's programs for The Teaching Company and find him to be an extremely knowledgeable economist, who has the ability to take complex issues and make them come alive. His book is really an extension of his rather amazing style.”