Principles of Economics, 1st Australian edition, is an adaptationof an original work by internationally renowned economists Joseph Stiglitz and Carl Walsh. The adaptingAustralian author team have contextualised the content to suit the needs of Australianuniversity students. Key introductory microeconomic and macroeconomics concepts areexplained using the latest theory and research, with data relevant to the Australian economy.Throughout the text, these concepts are applied to contemporary local economic issues for businesses andindividuals, such as: * The Australian dollar * The mining industry * The National Broadband Network * Petrol prices * Privatisation * The banking and finance sectors * The automotive industry * The carbon tax * The ageing population * Skills shortages * International trade In addition to a thorough analysis of the contemporary economiclandscape in Australia, the text provides useful international comparisons with economies in Asiaand Europe, as well as that of the United States. At a concise 15 chapters, this textbook is an ideal resource for aone semester university course in introductory economics