The only critical point is \((0,0)\) (a saddle, \(f=0\)). On the boundary \(x=\cos t\), \(y=\sin t\) and \(f=\cos 2t\), which ranges from \(-1\) to \(1\). The absolute minimum is \(-1\), at \((0,\pm1)\); a critical point need not be an extremum.
The absolute extrema of a function \(f\) on a closed, bounded region \(D\) are the minimum \(m\) and the maximum \(M\) of the values \(f\) takes on \(D\).
\[m=\min_{D} f,\qquad M=\max_{D} f\]
More practice problems: absolute extrema on a region