Understanding Economics" presents an interesting introduction to key economic ideas. The book clearly shows the relevance of economics to everyday situations. Examples are drawn from the internal workings of households, business firms and non-profit organizations. The book is user-friendly in both style and content and requires no prior knowledge of economics and minimal mathematics. With an emphasis on key microeconomic principles it is distinguished by the central role it gives to time and uncertainty in the economic process and by a balanced view of the economy which does not merely focus on the corporate sector.