Microeconomics: Principles and Tools

by O'Sullivan, Arthur; Sheffrin, Steven M.

ISBN13:
9780130358127
ISBN10:
0130358126
Edition: 3rd
Format: Paperback
Copyright: 2003-01-01
Publisher: Pearson College Div
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Microeconomics: Principles and Tools > ISBN13: 9780130358127

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Summary

The book provides a clear, concise, and accessible presentation of key points. Its hallmark feature includes a focus on the 5 Key Principles of Economics 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), 5) The Reality Principle (distinguishing real from nominal magnitudes). For financial professionals and analysts.

Preface

xxi

PART 1: Introduction and Key Principles

(94)

Introduction: What Is Economics?

(22)

Key Principles of Economics

(18)

Markets and Government in the Global Economy

(22)

Supply, Demand, and Market Equilibrium

(32)

PART 2: A Closer Look at Supply and Demand

(68)

Elasticity: A Measure of Responsiveness

(24)

Market Efficiency and Government Intervention

119

(26)

Consumer Choice

145

(18)

PART 3: Market Structures and Pricing

163

(148)

Production and Cost

163

(24)

Perfect Competition: Short Run and Long Run

187

(26)

Monopoly

213

(22)

Entry and Monopolistic Competition

235

(16)

Oligopoly and Strategic Behavior

251

(26)

Using Market Power: Price Discrimination and Advertising

277

(16)

Controlling Market Power: Antitrust Policy and Deregulation

293

(18)

PART 4: Spillovers and Information

311

(60)

Imperfect Information and Disappearing Markets

311

(18)

Public Goods, Taxes, and Public Choice

329

(20)

Environmental Policy

349

(22)

PART 5: The Labor Market and Economic Challenges

371

(1)

The Labor Market

371

(28)

Economic Challenges: Poverty, Aging, and Health Care

399

(18)

International Trade and Public Policy

417

Glossary

(1)

Photo Credits

(1)

Answers to Odd-Numbered Problems and Discussion Questions

(1)

Index

Supplemental Materials

What is included with this book?

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The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.