Staying at the forefront of what modern economic science has to offer in a classic handbook, the Introduction to Economics includes in simplified form the basic topics of Economics.

Volume I primarily focuses on microeconomics and the economics of welfare. The updates in the 4th (12th American) edition include two new chapters: Chapter 6 introduces choice under uncertainty and the main features of behavioral economics, while Chapter 16 analyzes how governments intervene in the economy through competition policy, regulations, and industrial policy.

It also includes a more detailed analysis of asymmetric information and an entirely new section on the digital economy; a complete revision of charts and tables to include the most recent economic data; new, contemporary case studies, activities, concept presentations, and mathematical examples; as well as boxes with economic concepts and their corresponding applications.