Microeconomics in Context provides a thorough introduction to the principles of microeconomics, updated and broadened to reflect the economic realities of the 21st century. The text builds upon the strengths of standard, neoclassical economics, but takes into account environmental, institutional, political, psychological, ethical, and social issues that are neglected in other introductory Principles textbooks. It is a book that encourages engaged and critical thinking about economics topics. It introduces students to the standard topics and tools taught in most introductory courses, and to a broader and richer set of topics and tools. The authors highlight how goals and values shape all aspects of people's lives, including on economic related issues. The discussion of physical and social/psychological contexts covers human motivation, ethics, culture, history and politics, built and natural environments, as well as institutions. The text focuses on three spheres of economic activity: the business sphere involving commercial firms; the public purpose sphere focusing on government, non-profit, and non-governmental organizations (including international agencies); and the core sphere of households and communities.