First Principles of Economics is an introduction to economics by Richard Lipsey, the world renowned author of An Introduction to Positive Economics, and by Professor Colin Harbury, Emeritus Professor of Economics at City University. London. First Principles of Economics has the needs and abilities of A-level candidates continually in mind. Throughout the book priority is given to providing thoroughly understandable explanations of basic economic principles. Anything that might confuse or mislead is covered slowly and helpfully with the aid of clear diagrams, so that the student can understand exactly what each economic concept does and does not involve. First Principles of Economics is also suitable for those preparing for the economics examinations of the major professional bodies, and for first year undergraduates without A-level economics.