This comprehensive introduction to economic principles covers all of the major topics in an introductory micro and macro principles course. Although the book prides itself on its concise approach, it maintains an appropriate degree of economic rigour, enabling students of all ability levels to develop a full understanding of the issues being discussed. The economic theory here is presented both graphically and, where appropriate, mathematically to ensure that students of all ability levels are able to develop a full understanding of the issues being discussed. The book is policy oriented, and it introduces welfare economics early on to allow a sophisticated discussion of a wide range of policy issues so that students understand the real world implications of economic theory. *Mathematical appendices. *Learning objectives and summaries for each chapter. *Definitions of key concepts. *Chapter on environmental economics. *Coverage of the transition to market economies in central and eastern Europe. *Discussion of open economy macroeconomic policy.