The Seventh Edition of Economics: A Tool for Critically Understanding Society develops fundamental economic analysis tools in clear, simple, and understandable terms. This one-semester text introduces students to economic theories and ideas, and how those theories and ideas have changed over time. The overarching goal of this text is to encourage critical thinking and to challenge students to examine preconceived ideas and beliefs. It explores various and contending schools of economic thought and successfully gives students perspective on the historical changes in the material conditions, economic institutions, and social relations of human society. By providing students with an opportunity to use economic concepts to solve real-world problems, Economics: A Tool for Critically Understanding Society creates a foundation for future and continued learning.