The book provides a new approach in economic education that is called real life economics. Several studies evaluate an inadequate knowledge and a lack of skills for addressing the economic needs. This holds true for the population in general as well as for adolescents with an economic education in school. One reason can be seen in the conventional economic education that is grounded on the economic standard theory which is not appropriate for the real life economy. In real life people are embeded in the primary context of the household and family. They are basic actors as well as basic resources to design the everyday living in an economic dimension of the life process. This is especially true for liberal market economies. With an expanded micro economic theory, empirical data and formulated educational concepts a new foundation for economic education is developed. The expansions come from institutional economics, household and family economics, economics of associations, evolutionary economics, behavioral economics, environmental economics and ecological economics.