The book provides a comprehensive introduction to economics, covering both microeconomics and macroeconomics, and applies economic principles to real-world policy issues. It introduces the basic principles of microeconomics, including scarcity, opportunity cost, and supply and demand, and examines the behavior of individual economic units, such as consumers and firms. The book also covers macroeconomics, including GDP, inflation, and unemployment, and discusses the determinants of economic growth, fiscal and monetary policy, and international trade and finance. Throughout the book, Baumol uses a combination of theoretical models, empirical evidence, and policy applications to provide a comprehensive understanding of economics and its relevance to real-world issues, including poverty, inequality, and environmental degradation.