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8 Preface

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Welcome to Economics!

1

FIGURE 1.1 Do You Use Facebook? Economics is greatly impacted by how well information travels through

society. Today, social media giants Twitter, Facebook, and Instagram are major forces on the information super

highway. (Credit: modification of "Social Media Mixed Icons - Banner" by Blogtrepreneur/Flickr, CC BY 2.0)

CHAPTER OBJECTIVES

In this chapter, you will learn about:

• What Is Economics, and Why Is It Important?

• Microeconomics and Macroeconomics

• How Economists Use Theories and Models to Understand Economic Issues

• How Economies Can Be Organized: An Overview of Economic Systems
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