Abstract
<jats:p>Principles of Economics equips students with the analytical tools to interpret individual and firm behavior within competitive and imperfect markets. Beginning with foundational models of supply and demand, the book moves through consumer and producer theory, market structures (perfect competition, monopoly, oligopoly), factor markets, and welfare analysis, highlighting how economic agents respond to incentives and constraints. The text then takes student through broad-scale dynamics of macroeconomics, including national output, inflation, unemployment, and monetary and fiscal policy. By connecting theory to contemporary policy questions and real-world phenomena, the text supports students in developing critical thinking and decision-making skills applicable across business, public policy, and personal finance contexts.</jats:p>