Get students to think like an Economist using the latest policy and data while incorporating global issues. Economics, Twelfth Edition builds on the foundation of the previous edition and retains a thorough and careful presentation of the principles of economics. Economics emphasizes real-world applications, the development of critical thinking skills, diagrams renowned for pedagogy and clarity, and path-breaking technology. What Is Economics?;The Economic Problem; How Markets Work; Households' Choices;  Firms and Markets; Market Failure and Government; Factor Markets, Inequality, and Uncertainty; Monitoring Macroeconomic Performance; Macroeconomic Trends; Macroeconomic Fluctuations; Macroeconomic Policy   For all readers interested in economics.