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Economics Today: The Micro View plus MyEconLab Student Access Kit,9780321278982
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Economics Today: The Micro View plus MyEconLab Student Access Kit

by
Edition:
13th
ISBN13:

9780321278982

ISBN10:
0321278984
Format:
Package
Pub. Date:
1/1/2006
Publisher(s):
Addison Wesley
List Price: $114.35
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Table of Contents

Preface xxii
PART I INTRODUCTION
1(464)
The Nature of Economics
1(24)
The Power of Economic Analysis
2(1)
Defining Economics
2(1)
Microeconomics versus Macroeconomics
3(1)
The Economic Person: Rational Self-Interest
3(4)
Economics as a Science
7(3)
Positive versus Normative Economics
10(1)
Case Study: Economics Front and Center Confronting a New Week---And Assessing Self-Interest
11(1)
Issues and Applications Applying Economics to the Problem of Childhood Obesity
12(1)
Summary Discussion of Learning Objectives
13(1)
Key Terms and Concepts
14(1)
Problems
14(1)
Economics on the Net The Usefulness of Studying Economics
15(1)
Media Resources
16(1)
Appendix A Reading and Working with Graphs
17(1)
Direct and Inverse Relationships
17(1)
Constructing a Graph
18(1)
Graphing Numbers in a Table
19(2)
The Slope of a Line (A Linear Curve)
21(2)
Appendix Summary
23(1)
Key Terms and Concepts
24(1)
Problems
24(1)
Scarcity and the World of Trade-Offs
25(23)
Scarcity
26(1)
Wants and Needs
27(1)
Scarcity, Choice, and Opportunity Cost
28(2)
The World of Trade-Offs
30(2)
The Choices Society Faces
32(3)
Economic Growth and the Production Possibilities Curve
35(1)
The Trade-Off Between the Present and the Future
36(2)
Specialization and Greater Productivity
38(1)
The Division of Labor
39(1)
Comparative Advantage and Trade Among Nations
40(1)
Case Study: Economics Front and Center Missing Class but Catching the Lecture
41(1)
Issues and Aplications The Trade-Off Between Fighting Terrorism and Catching Bank Robbers
42(2)
Summary Discussion of Learning Objectives
44(1)
Key Terms and Concepts
44(1)
Problems
45(1)
Economics on the Net Opportunity Cost and Labor Force Participation
46(1)
Media Resources
47(1)
Demand and Supply
48(29)
The Law of Demand
49(2)
The Demand Schedule
51(4)
Shifts in Demand
55(4)
The Law of Supply
59(1)
The Supply Schedule
60(2)
Shifts in Supply
62(3)
Putting Demand and Supply Together
65(5)
Case Study: Economics Front and Center The Economics of a Tornado Cleanup Can Hit Close to Home
70(1)
Issues and Applications Why Your Economics Instructor's Salary May Be Lagging
71(1)
Summary Discussion of Learning Objectives
72(1)
Key Terms and Concepts
73(1)
Problems
73(2)
Economics on the Net The U.S. Nursing Shortage
75(1)
Media Resources
76(1)
Extensions of Demand and Supply Analysis
77(21)
The Price System
78(1)
Exchange and Markets
78(1)
Changes in Demand and Supply
79(3)
Price Flexibility and Adjustment Speed
82(1)
The Rationing Function of Prices
82(2)
The Policy of Government-Imposed Price Controls
84(1)
The Policy of Controlling Rents
85(2)
Price Floors in Agriculture
87(2)
Price Floors in the Labor Market
89(2)
Quantity Restrictions
91(1)
Case Study: Economics Front and Center A Full-Court Press for Season Tickets
92(1)
Issues and Applications Why Ships Face Traffic Jams
93(1)
Summary Discussion of Learning Objectives
94(1)
Key Terms and Concepts
95(1)
Problems
95(2)
Economics on the Net The Floor on Milk Prices
97(1)
Media Resources
97(1)
The Public Sector and Public Choice
98(23)
What a Price System Can and Cannot Do
99(1)
Correcting for Externalities
99(4)
The Other Economic Functions of Government
103(3)
The Political Functions of Government
106(1)
Paying for the Public Sector
107(2)
The Most Important Federal Taxes
109(3)
Spending, Government Size, and Tax Receipts
112(3)
Collective Decision Making: The Theory of Public Choice
115(2)
Case Study: Economics Front and Center Too Few Opportunities to Play Table Tennis, or Too Many?
117(1)
Issues and Applications Can Computer Software Be a Public Good?
118(1)
Summary Discussion of Learning Objectives
119(1)
Key Terms and Concepts
120(1)
Problems
120(2)
Economics on the Net Putting Tax Dollars to Work
122(1)
Media Resources
122
Taxes, Transfers, and Public Spending
121(344)
Taxation from the Government's Point of View
124(4)
Taxation from the Point of View of Producers and Consumers
128(2)
Public Spending and Transfer Programs
130(4)
Social Security
134(4)
Case Study: Economics Front and Center To Boost Drug Sales, Is It Time to Raise the Price?
138(1)
Issues and Applications Why Activities Are No Longer ``Free'' at Many Public Schools
139(1)
Summary Discussion of Learning Objectives
140(1)
Key Terms and Concepts
141(1)
Problems
141(2)
Economics on the Net Social Security Privatization
143(1)
Media Resources
144(321)
PART V DIMENSIONS OF MICROECONOMICS
465(77)
Consumer Choice
465(29)
Utility Theory
466(1)
Graphical Analysis
467(2)
Diminishing Marginal Utility
469(1)
Optimizing Consumption Choices
470(3)
How a Price Change Affects Consumer Optimum
473(2)
The Demand Curve Revisited
475(2)
Case Study: Economics Front and Center Can ``Happiness Surveys'' Reveal an Individual's Satisfaction?
477(1)
Issues and Applications Altering the Marginal Utility of Web Shopping by Consumers with Disabilities
478(1)
Summary Discussion of Learning Objectives
479(1)
Key Terms and Concepts
480(1)
Problems
480(1)
Economics on the Net Book Prices and Consumer Optimum
481(1)
Media Resources
482(1)
Appendix E More Advanced Consumer Choice Theory
483(1)
On Being Indifferent
483(1)
Properties of Indifference Curves
484(2)
The Marginal Rate of Substitution
486(1)
The Indifference Map
486(1)
The Budget Constraint
487(1)
Consumer Optimum Revisited
488(1)
Effects of Changes in Income
489(1)
The Price-Consumption Curve
490(1)
Deriving the Demand Curve
491(1)
Appendix Summary
492(1)
Key Terms and Concepts
492(1)
Problems
492(2)
Demand and Supply Elasticity
494(23)
Price Elasticity
495(2)
Price Elasticity Ranges
497(2)
Elasticity and Total Revenues
499(4)
Determinants of the Price Elasticity of Demand
503(3)
Cross Price Elasticity of Demand
506(1)
Income Elasticity of Demand
507(2)
Elasticity of Supply
509(2)
Case Study: Economics Front and Center Elasticities and Revenues in College Textbook Publishing
511(1)
Issues and Applications The Inelastic Demand for Health Care---With One Striking Exception
512(1)
Summary Discussion of Learning Objectives
513(1)
Key Terms and Concepts
514(1)
Problems
514(2)
Economics on the Net Price Elasticity and Consumption of Illegal Drugs
516(1)
Media Resources
516(1)
Rents, Profits, and the Financial Environment of Business
517(25)
Rent
518(3)
Firms and Profits
521(6)
Interest
527(4)
Corporate Financing Methods
531(1)
The Markets for Stocks and Bonds
532(4)
Case Study: Economics Front and Center A Hometown Bank Considers Joining the Inflation-Adjusted Bandwagon
536(1)
Issues and Applications Investors Line Up to Get More TIPS from the U.S. Treasury
537(1)
Summary Discussion of Learning Objectives
538(1)
Key Terms and Concepts
539(1)
Problems
539(2)
Economics on the Net How the New York Stock Exchange Operates
541(1)
Media Resources
541(1)
PART VI MARKET STRUCTURE, RESOURCE ALLOCATION, AND REGULATION
542(141)
The Firm; Cost and Output Determination
542(26)
Short Run versus Long Run
543(1)
The Relationship Between Output and Inputs
544(1)
Diminishing Marginal Returns
545(3)
Short-Run Costs to the Firm
548(6)
The Relationship Between Diminishing Marginal Returns and Cost Curves
554(1)
Long-Run Cost Curves
555(3)
Why the Long-Run Average Cost Curve Is U-Shaped
558(2)
Minimum Efficient Scale
560(2)
Case Study: Economics Front and Center Short-Run Adjustments at a Web-Based Firm
562(1)
Issues and Applications The Latest Thing in High-Tech Gadgets: Railroad Locomotives?
563(1)
Summary Discussion of Learning Objectives
564(1)
Key Terms and Concepts
565(1)
Problems
565(2)
Economics on the Net Industry-Level Capital Expenditures
567(1)
Media Resources
567(1)
Perfect Competition
568(26)
Characteristics of a Perfectly Competitive Market Structure
569(1)
The Demand Curve of the Perfect Competitor
570(1)
How Much Should the Perfect Competitor Produce?
571(2)
Using Marginal Analysis to Determine the Profit-Maximizing Rate of Production
573(1)
Short-Run Profits
574(2)
The Short-Run Shutdown Price
576(2)
The Meaning of Zero Economic Profits
578(3)
Competitive Price Determination
581(1)
The Long-Run Industry Situation: Exit and Entry
581(5)
Long-Run Equilibrium
586(1)
Competitive Pricing: Marginal Cost Pricing
586(2)
Case Study: Economics Front and Center Cardiologists Give Heart Surgeons Chest Pains
588(1)
Issues and Applications Full-Body Medical Scanning Goes on Life Support
589(1)
Summary Discussion of Learning Objectives
590(1)
Key Terms and Concepts
591(1)
Problems
591(2)
Economics on the Net The Cost Structure of the Movie Theater Business
593(1)
Media Resources
593(1)
Monopoly
594(23)
Definition of a Monopolist
595(1)
Barriers to Entry
595(4)
The Demand Curve a Monopolist Faces
599(3)
Elasticity and Monopoly
602(1)
Costs and Monopoly Profit Maximization
603(4)
Calculating Monopoly Profit
607(2)
On Making Higher Profits: Price Discrimination
609(1)
The Social Cost of Monopolies
610(2)
Case Study: Economics Front and Center The Collegiate Cartel Restricts Output of Postseason Games
612(1)
Issues and Applications The Run on Business Method Patents
613(1)
Summary Discussion of Learning Objectives
614(1)
Key Terms and Concepts
615(1)
Problems
615(1)
Economics on the Net Patents, Trademarks, and Intellectual Property
616(1)
Media Resources
616(1)
Monopolistic Competition
617(20)
Monopolistic Competition
618(3)
Price and Output for the Monopolistic Competitor
621(2)
Comparing Perfect Competition with Monopolistic Competition
623(1)
Brand Names and Advertising
624(3)
Information Products and Monopolistic Competition
627(4)
Case Study: Economics Front and Center Will Viral Marketing Work Wonders?
631(1)
Issues and Applications Selling Identical Songs as Different Products Online
632(1)
Summary Discussion of Learning Objectives
633(1)
Key Terms and Concepts
634(1)
Problems
634(2)
Economics on the Net Legal Services on the Internet
636(1)
Media Resources
636(1)
Oligopoly and Strategic Behavior
637(22)
Oligopoly
638(4)
Strategic Behavior and Game Theory
642(3)
Price Rigidity and the Kinked Demand Curve
645(3)
Strategic Behavior with Implicit Collusion: A Model of Price Leadership
648(1)
Deterring Entry into an Industry
649(2)
Network Effects
651(1)
Comparing Market Structures
652(1)
Case Study: Economics Front and Center Confronting the Temptation to Collude
653(1)
Issues and Applications Oligopoly in the Ground-Shipping Business
654(1)
Summary Discussion of Learning Objectives
655(1)
Key Terms and Concepts
656(1)
Problems
656(1)
Economics on the Net Current Concentration Ratios in U.S. Manufacturing Industries
657(1)
Media Resources
658(1)
Regulation and Antitrust Policy in a Globalized Economy
659(24)
Forms of Industry Regulation
660(3)
Regulating Natural Monopolies
663(2)
Regulating Nonmonopolistic Industries
665(3)
Incentives and Costs of Regulation
668(4)
Antitrust Policy
672(2)
Antitrust Enforcement
674(3)
Case Study: Economics Front and Center Time to Take a Stand on Utility Rates
677(1)
Issues and Applications A Model Case of Collusive Price Fixing?
678(1)
Summary Discussion of Learning Objectives
679(1)
Key Terms and Concepts
680(1)
Problems
680(2)
Economics on the Net Guidelines for U.S. Antitrust Merger Enforcement
682(1)
Media Resources
682(1)
PART VII LABOR RESOURCES AND THE ENVIRONMENT
683(94)
The Labor Market: Demand, Supply, and Outsourcing
683(22)
Labor Demand for a Perfectly Competitive Firm
684(5)
The Market Demand for Labor
689(2)
Wage Determination in a Perfectly Competitive Labor Market
691(3)
Labor Outsourcing, Wages, and Employment
694(5)
Monopoly in the Product Market
699(2)
The Utilization of Other Factors of Production
701(2)
Case Study: Economics Front and Center Outsourcing Can Be a Win-Win Situation
703(1)
Issues and Applications How a Federal Labor Rule Boosted Truckers' Wages
704(1)
Summary Discussion of Learning Objectives
705(1)
Key Terms and Concepts
706(1)
Problems
707(1)
Economics on the Net Current Trends in U.S. Labor Markets
708(1)
Media Resources
708
Union and Labor Market Monopoly Power
705(25)
Industrialization and Labor Unions
710(4)
Union Goals and Strategies
714(4)
Economic Effects of Labor Unions
718(3)
Monopsony: A Buyer's Monopoly
721(4)
Case Study: Economics Front and Center Time for New Union Members, or Not?
725(1)
Issues and Applications Why Union Bargaining Talks Have Become Marathon Undertakings
726(1)
Summary Discussion of Learning Objectives
727(1)
Key Terms and Concepts
728(1)
Problems
728(1)
Economics on the Net Evaluating Union Goals
729(1)
Media Resources
729(1)
Income, Poverty, and Health Care
730(28)
Income
731(4)
Determinants of Income Differences
735(5)
Theories of Desired Income Distribution
740(1)
Poverty and Attempts to Eliminate It
741(5)
Health Care
746(6)
Case Study: Economics Front and Center A Canadian Doctor Faces a Tough Career Choice
752(1)
Issues and Applications Should U.S. Health Care Copy Other Nations' Programs?
753(1)
Summary Discussion of Learning Objectives
754(1)
Key Terms and Concepts
755(1)
Problems
755(2)
Economics on the Net Measuring Poverty
757(1)
Media Resources
757(1)
Environmental Economics
758(19)
Private versus Social Costs
759(1)
Correcting for Externalities
760(2)
Pollution
762(3)
Common Property
765(3)
Wild Species, Common Property, and Trade-Offs
768(1)
Recycling
769(2)
Case Study: Economics Front and Center Confronting Potential Nanotechnology Externalities
771(1)
Issues and Applications Protecting the Komodo Islands
772(1)
Summary Discussion of Learning Objectives
773(1)
Key Terms and Concepts
774(1)
Problems
774(2)
Economics on the Net Economic Analysis at the Environmental Protection Agency
776(1)
Media Resources
776(1)
PART VIII GLOBAL ECONOMICS
777
Comparative Advantage and the Open Economy
777(22)
The Worldwide Importance of International Trade
778(1)
Why We Trade: Comparative Advantage and Mutual Gains from Exchange
778(6)
The Relationship Between Imports and Exports
784(1)
International Competitiveness
784(2)
Arguments Against Free Trade
786(2)
Ways to Restrict Foreign Trade
788(3)
International Trade Organizations
791(1)
Case Study: Economics Front and Center A Looming Tequila Battle
792(1)
Issues and Applications Agricultural Subsidies Derail the WTO
793(2)
Summary Discussion of Learning Objectives
795(1)
Key Terms and Concepts
795(1)
Problems
796(2)
Economics on the Net How the World Trade Organization Settles Trade Disputes
798(1)
Media Resources
798(1)
Exchange Rates and the Balance of Payments
799
The Balance of Payments and International Capital Movements
800(7)
Determining Foreign Exchange Rates
807(8)
The Gold Standard and the International Monetary Fund
815(1)
Fixed versus Floating Exchange Rates
816(4)
Case Study: Economics Front and Center Can Government Statements Move Exchange Rates?
820(1)
Issues and Applications Japan's Finance Ministry Learns a New Currency Trick
821(1)
Summary Discussion of Learning Objectives
822(1)
Key Terms and Concepts
823(1)
Problems
823(2)
Economics on the Net Daily Exchange Rates
825(1)
Media Resources
825
Answers to Odd-Numbered Problems 1(1)
Glossary 1(1)
Index 1


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