Bring the study of economics to life with PRINCIPLES OF MICROECONOMICS, 7TH EDITION. Award-winning educator and author Fred Gottheil speaks directly to student experience through a conversational writing style and narrative that uses stories, familiar examples, engaging scenarios, and relevant examples from literature emphasizing that economic principles can be found in all aspects of modern life. The text focuses on the key questions and presents the basic concepts-developing economic analysis step-by-step. The result is a more interactive and enjoyable learning experience when compared to the pedantic approaches often found in texts. Each chapter in the seventh edition has been thoroughly revised to reflect the most relevant data and critical issues, such as how the rash of foreclosures that continues to plague our economy today is related to the repeal of the 1933 Glass-Steagall Act in 1999, as well as emerging issues such as the current research on the Economics of Happiness and its integration into utility analysis. The Keynesian concept of the liquidity trap is new to the text and is added to help explain the factors that undermine the effectiveness of current monetary policy. We invite you to see for yourself how Fred Gottheil's approach will help to shorten the distance between students and the exciting study of economics.