The second edition of Economics builds on the foundation of success of its first edition. I remain convinced that students have an innate interest in the subject of economics that can be stimulated by a text that applies and uses economic theory, showing how the economy functions. In this new edition I have added features that help students fathom the modern global economy. I have also added many more applications that demonstrate how the discipline of economics is relevant to students’ personal lives and to tye business, managerial, and policy issues that they read and hear about.
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