Economics is a subject in which a little knowledge goes a long way. Studying economics helps students to understand the world in which they live in. The aim of this book is to introduce the discipline of economics for students to learn as their first course in economics. To boil economics down to its essentials, the authors had to consider what is truly important for students to learn. As a result, this book differs from others not only in its length but also in its orientation. This book has been designed particularly for students in Malaysia. One of the key features in this book is that the book has a distinctively Malaysian focus. Students learn to apply economic principles best if they are taught in a familiar context. When choosing examples and applications to illustrate the underlying economic principles, the authors have used Malaysian examples and Malaysian institutions whenever possible. The case studies and “In the News” articles also draw largely, but not exclusively, on Malaysian contexts.
The other key features of this book are devoted to applications and policy, and less is devoted to formal economic theory, as is the case with many other books written for the principles course. Most chapters include case studies illustrating how the principles of economics are applied. In addition, “In The News” boxes offer excerpts from newspaper articles showing how economic ideas shed light on current issues facing society. After students finish their first course in economics, they should think about new items from a new perspective and with greater insight.