Since introducing the aggregate supply/aggregate demand model as a fundamental tool for learning economics in the first edition of their textbook, William Baumol and Alan Blinder have, for over two decades, led the teaching and learning of economic with their authoritative and timely discussion of the field. Now in its eighth edition 2001 Update, Microeconomics: Principles and Policy remains a time-tested tool in teaching and learning the ever-evolving field of economics.