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Introducing Principles of Economics

Betsey Stevenson and Justin Wolfers present the principles of economics for a new generation of students. Their unique focus on useful economics, compelling explanations, and real-life examples will help students use the basic tools of economics to develop economic intuition and apply it to everyday decisions—from personal and professional goals to public policy and the broader economy.
  • Should you buy a car or rely on Uber?
  • Get a job, or go to graduate school?
  • Spend or save?
  • Start a business, or shut it down?
  • Worry about inflation or unemployment?
With verve and clarity, the authors provide a fresh take on fundamental principles topics and develop Macroeconomics from its Micro foundations, in an engaging and student-focused presentation. Principles of Economics is available with SaplingPlus, our integrated online learning system that features effective tools for each step of the learning path: pre-class, in-class, and post-class. The unique Decision Points digital features move students step-by-step through decision-making scenarios and offer feedback on how economic principles did (or did not) play into their choices.


Browse sample material:

In Chapter 1, students learn about the four core principles that provide the foundation of all economic analysis, and use them to analyze choices and make better decisions.

Chapter 2 helps students understand people's buying, or demand, decisions.

Table of Contents:

  • Principles of Economics
  • Principles of Macroeconomics
  • Principles of Microeconomics


Interactive Decision Points activities:

Our unique Decision Points digital features move students step-by-step through decision-making scenarios and offer feedback on how economic principles did (or did not) play into their choices.

Double-click to edit lin

Author Videos:

About the Authors:

Betsey Stevenson

Betsey is a professor of economics and public policy at the University of Michigan. She serves on the Executive Committee of the American Economic Association, and is a research associate with the National Bureau of Economic Research, a fellow of the Institute for Economic Research in Munich, a visiting associate professor of economics at the University of Sydney, and a research Fellow with the Centre for Economic Policy Research in London. She served as a member of the Council of Economic Advisers from 2013 to 2015, where she advised President Obama on social policy, labor market, and trade issues. She also served as the chief economist of the U.S. Department of Labor from 2010 to 2011.

Justin Wolfers

Justin is a professor of economics and public policy at the University of Michigan. He is a research associate with the National Bureau for Economic Research, a fellow of the Brookings Institution, a fellow of the Peterson Institute for International Economics, a research fellow with the Centre for Economic Policy Research in London, a fellow of the Institute for Economic Research in Munich, a visiting professor of economics at the University of Sydney, and an international research fellow at the Kiel Institute for the World Economy in Germany. He has been an editor of the Brookings Papers on Economic Activity and has held many board member and advisory positions.

“This book gives a thorough and insightful presentation of microeconomics foundation topics. There are many real-world applications throughout the text that are both explained and shown in economic modeling formats. The writing is also very clear and almost conversational, which will help to engage students in the material.”
- Anastasia Smith, Pfeiffer University