Microeconomics

Part1 Basic Concept 1.The Central Concepts of Economics ? Appendix 1 2. The Modern Mixed Economy 3. Basic Elements of Supply and Demand ? Appendix 3 Part 2 Microeconomics: Supply, Demand, and Product Markets 4. Supply and Demand: Elasticity and Applications 5. Demand and Consumer Behavior ? Appendix 5 6. Production and Business Organization 7. Analysis and Costs ? Appendix 7 8. Analysis of Perfectly Competitive Markets 9. Imperfect Competition and Monopoly 10. Competition Among the Few 11. Economics of Uncertainty Part 3 Factor Markets: Labor, Land, and Capital 12. How Markets Determine Incomes 13. The Labor Market 14. Land, Natural Resources, and the Environment 15. Capital, Interest, and Profits Part 4 Applications of Economic Principles 16. Government Taxation and Expenditure ? Appendix 16 17. Efficiency vs. Equality: The Big Tradeoff ? Appendix 17 18. International Trade ? Appendix 18

Overview Already established as a seminal textbook on microeconomics, the 20th edition of Microeconomics continues to take the legacy forward with recent updates. This new edition presents the latest thinking of modern economists and emphasizes the analytical core of economics with particular attention to analysis of market economics. The text is designed to cover syllabi requirements of graduates taking up microeconomics. To enrich the book further for its Indian readers, Indian content has been added at relevant places to relate the concepts more specifically to the Indian context. This edition is a thoroughly updated version, and feedback from readers and academicians have been incorporated.