This book provides a brand new approach to the teaching and study of microeconomics. It is an elementary guide to the fundamental principles of the subject, but without sacrificing rigor. It differs from previous texts in allowing students from all parts of the world to understand and appreciate the value of microeconomic tools and concepts for analyzing market processes in their economic environment, as well as maintaining a perspective on issues of trade and competitiveness, thus drawing attention to the relevance of microeconomic theory beyond the domestic scene to issues of trade and competitiveness in the international arena. The book is packed full of case studies from every part of the globe, with particular emphasis placed on developing countries in Asia, Africa and the Americas, as well as an accompanying website and other learning features.