Principles of Microeconomics

A Fresh Take on Introductory Microeconomics

Principles of Microeconomics by Betsey Stevenson and Justin Wolfers is a college-level introduction to microeconomics built around a simple idea: economics should help students understand the choices people actually make. Rather than treating the field as an abstract set of formulas, the authors write for students who want to see how economic reasoning applies to work, family, public policy, and everyday decisions.

Economics as a Toolkit for Real Decisions

The book presents microeconomics as a practical toolkit, with an emphasis on intuition and real-world relevance. The authors write for readers who want to understand how economic tools can inform the many roles they play in the economy, their communities, and their careers. The result is a textbook that aims to be readable and meaningful, not merely technical.

What Students Will Encounter

• An intuitive introduction to microeconomic principles
• Real-world applications that connect economic ideas to decisions
• A writing style designed to be readable and engaging
• A framing of economics as relevant to a diverse population of students
• A focus on how economic tools can inform personal, professional, and civic choices

Who This Edition Is For

This textbook is aimed at introductory microeconomics courses and students encountering the subject for the first time. It can also serve anyone seeking a structured, accessible route into microeconomic thinking. Instructors looking for a text that emphasizes relevance and student engagement will find a clear pedagogical voice throughout.

About the Authors

Betsey Stevenson and Justin Wolfers are professors of economics and public policy at the University of Michigan. Stevenson served as a member of the Council of Economic Advisers from 2013 to 2015, advising on social policy, labor market, and trade issues. Wolfers is a widely cited economist and contributing columnist for the New York Times who has held fellowships and advisory roles with major economic institutions. Their combined experience shapes a textbook that aims to make economics meaningful to more people.

Why This Edition Belongs on Your Shelf

For students who want an introductory microeconomics text with a human voice and a strong sense of relevance, this edition offers a thoughtful starting point. It treats economics as a way to understand the world, and to make better decisions within it.