Showing the power of economic tools and the importance of economic ideas, this 4th edition of Principles of Mircoeconomics continues to focus on what is truly important for students to learn in their first microeconomics course. With an engaging approach to the study of the economy, the text returns to applications and policy questions as often as possible, encouraging students to relate ecomonic theory to their own experiences. Designed particularly for students in Australia and New Zealand, the new edition incorporates contemporary topics such as global warming, outsourcing, work quality, poverty and immigration. Comprehensively revised and updated, the text enables students to understand the important foundations of economic analysis in a practical real-world context.