This textbook acquaints readers with the way modern society’s economic life is arranged, the way individuals, enterprises, and institutions act, and the forms of cooperation established among them. This is the 5-th edition of the textbook and evidence of its wide popularity and readers’ recognition. The textbook was published in foreign countries as well, but this is the first edition in English. One of the important advantages of this textbook lies in authors’ ability to combine such peculiarities as well-grounded, comprehensive, and detailed research of issues with simplicity, liveliness, and graphic description of information. This textbook is intended for students of higher educational institutions studying such disciplines as “Bases of Economic Theory” and “Political Economy”. This textbook will be helpful for all those interested in problems of modern economy.