This textbook is designed to meet the needs of a wide range of economics students, from those new to the subject to those who have been grounded in the basics. There are starred sections for more advanced students, summaries at the end of each section, definitions in the margin questions throughout the text to prompt student learning, case studies, person profiles, institutional material, advanced topics and coverage of contemporary and historical controversies. The book covers a range of topics in microeconomics and macroeconomics including marginal utility theory and indifference curve analysis, alternative theories of the firm, game theory and contestable markets, distribution of income and poverty and inequality. There is also material on the examination of the effects of the 1992 single market initiative, the costs and benefits of alternative exchange rate regimes, international macroeconomic policy harmonization, European Monetary Union, and a chapter on the problems of economic development.