This introduction, presented in the style of an international textbook, has long since become a standard in the field. It provides a basic outline of microeconomic and macroeconomic approaches in a comprehensible manner and explains economic interrelationships in an application-oriented way on the basis of concrete problems. The focus is on German and European example applications, so that it also provides good orientation on economic policy issues. This sixteenth edition has been completely revised and updated. The contents have been restructured and illustrated with numerous practical examples, giving readers even easier access to the subject matter. Useful supplementary materials to the textbook are also available for lecturers with an interest in the field.

Autorentext

Prof. Horst Siebert (1938&2009) was president of the Institute for World Economics at the University of Kiel and also taught at Johns Hopkins University in Bologna. His student, the current lead author, Dr. Oliver Lorz, is Professor of International Economic Relations at RWTH Aachen University, where Dr. Morten Endrikat is a research associate.