The second edition of this book adopts a similar problem solving approach to the first edition. There are over 300 problems and activities of one kind or another, and about half of these are new or substantially modified from those appearing in the previous edition.

The Second edition devotes more attention to particular problems. Since the first edition was published soaring inflation, rising unemployment, falling growth rates and international monetary problems have become problems of more concern. These problems and recent responses by economists are given more emphasis in this edition. During the 1970s increasing attention has been paid to social welfare problems and this edition contains additional material on the distribution of income, poverty, health care, the environment, and consumer and industry protection.