This study examined 16 high school economics textbooks commonly used in Michigan. The textbooks were graded for 12 criteria that form the basis for the sound study of economics: (1) the price system and production; (2) competition and monopoly; (3) comparative economic systems; (4) the distribution of income and poverty; (5) the role of government; (6) the role of the entrepreneur; (7) public choice; (8) taxation; (9) the business cycle; (10) wages and unions; (11) trade and tariffs; and (12) money and banking. Of the 16 textbooks examined, three received A's and three received B's; however, three received C's, five received D's, and two received F's. Assessment findings revealed that most texts do a decent job of describing trade, the failure of communism, and the impact of entrepreneurs; however, most are deficient in three areas: competition and monopoly, the economics of taxation, and the lesson of the Great Depression. The report describes the methodology and evaluation criteria, explains the grade for each textbook examined, and provides recommendations. (BT)