Principles of Economics

Economics is part of our daily life. It helps us understand problems and make better decisions—at home, in business, and in government. In today’s world, knowing some economics is important for everyone.Learning economics helps us understand the world better. It shows us how things worked in the past, what’s happening now, and what might happen in the future.This book is made for first-semester economics students at the University of Calicut, based on the 2024 Four Year Undergraduate Programme (FYUGP). The ideas are explained in a simple and clear way, using trusted books and online sources.