The third edition of Principles of Economics provides students with an in-depth understanding of basic microeconomics and macroeconomics concepts. This book is targeted at students pursuing economics courses at local institutions of higher learning. In keeping with the latest developments in the field, this revised edition includes new topics and subtopics. Additionally, case studies have been provided for critical chapters to enable students to relate and apply what they have learnt to real-world contexts. Key Features • Complies with the Economics syllabi of the institutions of higher learning • Opens with a chapter overview for each chapter to give students an at-a-glance view of the topic coverage • Presents the content in easy-to-understand language, complemented with numerous graphs to make economics concepts accessible to students • Reinforces student’s understanding of the economics concepts leant through sample questions with answers and a chapter summary at the end of each chapter • Provides formative and summative assessments through various question types • Includes suggested solutions at the end of the book, which makes this book suitable for both classroom leaning and self-study New to This Edition: • New key topics and subtopics - the Islamic Economy System, Derived Demand and Composite Demand, Joint Supply; Consumer Surplus, Producer Surplus and Economic Efficiency; Factors Affecting Aggregate Demand and Aggregate Supply, Money Market Equilibrium, the LM curve and factors that shift the LM curve.• Update multiple-choice questions, structured questions and essay questions • Case studies for critical chapters