Principles of microeconomics
- 2nd ed.
- New York Macmillan Learning 2023
- 535p.
1. The Four Core Principles of Economics 2. Demand and Consumer Choice 3. Supply and Producer Choice 4. Equilibrium: Where Supply Meets Demand 5. Elasticity: Measuring Responsiveness 6. Taxes, Price Controls, and Quantity Regulations 7. Welfare Economics: Evaluating Market Efficiency and Market Failure 8. Comparative Advantage and Gains from Trade 9. International Trade 10. Externalities and Public Goods 11. The Labor Market 12. Why Wages Vary: Workers, Jobs, Institutions, and Discrimination 13. Inequality, Poverty, and Social Insurance 14. Market Structure and Degrees of Market Power 15. Entry, Exit, and Long-Run Profitability 16. Price Discrimination and Sophisticated Pricing Strategies 17. Economics of Strategic Management 18. Game Theory and Strategic Choices 19. Decisions Involving Uncertainty 20. Decisions Involving Private Information
In this book, the author emphasises that every decision is an economic decision. The authors' focus on useful economics uses compelling explanations and real-life examples to help students develop and apply economic intuition to their everyday decisions. They provide a thoroughly fresh take on a wide range of foundational topics in an engaging presentation that has drawn enthusiastic feedback from both instructors and students.