Microeconomics is the study of the decisions of individual people and businesses and the interaction of those decisions in markets. The strengths of the 2nd edition have been the basis for the evolution of the text from a simple principles approach to a more integrated and focused approach with the content now rearranged into six parts. Economic efficiency is a core theme throughout and there is the addition of new material on market applications, producer choice, government and markets and competition policy and microeconomic reform. Examples and case studies are also drawn from Australia and the Asia-Pacific region ensuring relevance to local students. There is also major improvement in the design, especially the presentation of graphs making the text more accessible and engaging for students. The familiar features of the 2nd edition also remain, including text-linked learning objectives, full-colour graphics, margin definitions, chapter summaries, review questions and problem sets.