This book offers the reader an opportunity to learn about the major ideas of formal, classical microeconomics. It allows the reader to put a critical perspective on economics and their immediate and long-term impact on people. The theoretical “free market” model, as it was understood and described by the early liberal economists, is compared with the functioning of the “real” market today. The state intervenes to strengthen or weaken the power of some of the major economic actors such as households, businesses and organized labour, and to protect those who are completely excluded from the market.

Complete with key word listings, student exercises, index and suggestions for lecturers.