This book is designed for a one-semester issues-based general education economics course, and its purpose is to interest the nonbusiness, noneconomics major in what the discipline of economics can do. Students of the “issues approach” will master the basic economic theory necessary to explore a variety of real-world issues. If this is the only economics class they ever take, they will at least gain enough insight to be able to intelligently discuss the way economic theory applies to important issues in the world today.

Until the first edition of this book was published, instructors who chose the issues approach to teaching a one-semester general economics course have had to compromise in one of the following ways: they could (1) pick a book that presents the issues but that is devoid of economic theory; (2) pick a book that intertwines the issues with the theory; (3) ask students to buy two books; or (4) place a large number of readings on library reserve.

Each of these alternatives presents problems. If the course is based entirely on an issues text, students will leave with the incorrect impression that economics is a nonrigorous discipline that offers opinions devoid of a theoretical basis. A book that intertwines issues and theory implicitly assumes that all the issues are relevant to all students in the course. In fact, some issues are not relevant to some students and others are relevant only when the issue makes news. For example, at Syracuse my students never understood why farm price supports were interesting, whereas at Indiana State no student that I have met has ever lived in a rent-controlled apartment. Other issues are of interest only at particular times. Oil prices were of little consequence to students during the bulk of the 1990s, but students are very interested today. Student interest in Social Security rose during 2005 when President Bush pushed his version of reform but may again wane. Similarly, the minimum wage is of interest to students when there is a debate over an increase. Finally, some issues are white hot for a brief moment in time, like the 2003–2005 housing bubble, and do not survive the lead time necessary to make it into a regular economics text.

The problem associated with using multiple books is the obvious one of expense. Having multiple reserve readings, still a legitimate option, requires a great deal of time on the part of students, teachers, and librarians, and it is usually not convenient for students. This book meets both student and instructor needs simultaneously. By regularly updating the material, regularly adjusting the portfolio of topics, and using a Web platform for “white hot” issues and as an archive of discarded issues, this book allows instructors of economics to keep students interested.