This introduction, presented in the style of an international textbook, has long since become a standard in the field. It provides a basic outline of microeconomic and macroeconomic approaches in a comprehensible manner and explains economic interrelationships in an application-oriented way on the basis of concrete problems. The focus is on German and European example applications, so that it also provides good orientation on economic policy issues. This sixteenth edition has been completely revised and updated. The contents have been restructured and illustrated with numerous practical examples, giving readers even easier access to the subject matter. Useful supplementary materials to the textbook are also available for lecturers with an interest in the field.