In Asia and many parts of the world, students taking
introductory economics usually read principles of economics textbooks written by
American professors. Naturally, these professors used cases and examples that
their students are most familiar with to illustrate core economics concepts. In
general, Asian readers have little knowledge about American cases and examples,
which in turn hinders their ability to apprehend the applications of core
economics principles to real life examples. For example, baseball is a popular
sport in North America but not so in Asia. While Americans often eat pizza,
Asians do not have a strong preference for pizza. However, as the United States
is one of the most important economic powers in the world, it is instrumental
for all economics students, Americans and Asians alike, to understand its market
structure and financial system. Moreover, famous U.S. television programs are
broadcasted through television stations around the world with or without
With the advancement in information technology and the high
penetration of smartphone with internet access, people around the world are
becoming closer to one another. Local news may spread across the globe within
hours and a trendy product originated from a city may become a worldwide hit in
weeks. For example, pearl milk tea, which used to be a popular local drink in
Taiwan, is widely available in many parts of the world today. Therefore,
students taking introductory economics in any country should take a global
perspective and can benefit from studying real life examples selected from
different parts of the globe.
Cases and examples included in this book are carefully selected
to arouse the interest of target readers. All products and services discussed,
such as donuts and smartphones, are familiar to youngsters worldwide.
Celebrities chosen to illustrate core concepts, such as Lebron James, are
household names around the world. Although this book is targeted at economics
students in Asia, it is also equally appealing to youngsters around the globe.
In short, Principles of Economics: Asia Global Edition, 1/e provides
students with a lens through which to view, understand, and analyze current
economic scenarios by eliminating overwhelming detail. It makes extensive use of
examples from Asia and North America to explain the Seven Core Principles.