The Joy of Economics: Making Sense out of Life

Robert J. Stonebraker

Principles of Economics

Online Book

The book is divided into three sections. The first takes a traditional, though non-technical, approach to develop such core economic concepts as comparative advantage, demand and supply, and economic efficiency. The second section applies these concepts to a wide range of microeconomic issues and the third section tackles macroeconomic issues. These last sections, especially the microeconomic one, are less traditional. Rather than than trying to explain economics, their emphasis is on using economics to explain everyday phenomena. The recurring theme is that differences in behavior across individuals and/or across time are the result of differences in perceived costs and benefits. To understand behavior, both good and bad, we must uncover the underlying costs and benefits that create it.