Microeconomics

PART ONE: Introduction to Economics and the Economy 1 Limits, Alternatives, and Choices 2 The Market System and the Circular Flow PART TWO: Price, Quantity, and Efficiency 3 Demand, Supply, and Market Equilibrium 4 Market Failures Caused by Externalities and Asymmetric Information 5 Public Goods, Public Choice, and Government Failure PART THREE: Consumer Behavior 6 Elasticity 7 Utility Maximization 8 Behavioral Economics PART FOUR: Microeconomics of Product Markets 9 Businesses and the Costs of Production 10 Pure Competition in the Short Run 11 Pure Competition in the Long Run 12 Pure Monopoly 13 Monopolistic Competition 14 Oligopoly and Strategic Behavior 15 Technology, R&D, and Efficiency (available online) PART FIVE: Microeconomics of Resource Markets and Government 16 The Demand for Resources 17 Wage Determination 18 Rent, Interest, and Profit 19 Natural Resource and Energy Economics (available online) 20 Public Finance: Expenditures and Taxes (available online) PART SIX: Microeconomic Issues and Policies 21 Antitrust Policy and Regulation 22 Agriculture: Economics and Policy 23 Income Inequality, Poverty, and Discrimination 24 Health Care 25 Immigration

Microeconomics is seen as one of the most innovative and popular book in the subject area across the globe. This revised edition of the book offers comprehensive discussion on all major areas of micro aspects of economics, with inclusion of insightful new content around latest trends. From real-life examples to cutting-edge learning resources, Microeconomics offers a student-centered learning environment that presents content in new, engaging ways. With its modern approach and inclusion of new data, examples, and cases from global as well as Indian context, the book makes learning and applying economics easier for instructors and students alike • A simple and engaging read that offers comprehensive discussion on basic to advance topics in economics • Includes new chapters on Market Failures Caused by Externalities and Asymmetric Information, and Public Goods, Public Choice, and Government Failure • Balances theory with practice through innovative in-chapter features, like Key Graphs and Quick Review • Features new Consider This and Last Word elements that focus on real-life examples and cases in global as well as Indian context.