9780077924751

Looseleaf Principles of Microeconomics + Connect Access Card

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  • ISBN13:

    9780077924751

  • ISBN10:

    0077924754

  • Edition: 5th
  • Format: Loose-leaf
  • Copyright: 11/14/2011
  • Publisher: McGraw-Hill Education
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Summary

In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of teaching a shorter list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. The authors introduce a coherent short list of core principles and reinforce them by illustrating and applying each in numerous contexts. With engaging questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. Throughout this process, the authors encourage students to become economic naturalists: people who employ basic economic principles to understand and explain what they observe in the world around them.

Principles of Microeconomics, fifth edition, is thoroughly updated with examples that connect to current events such as the financial crisis of 2008 and Great Recession of 2007-2009 as well as other topics commonly discussed in the media. In addition, the text is paired with McGraw-Hill–s market-leading online assignment and assessment solution Connect Economics, providing tools to enhance course management and student learning.

Table of Contents

Part 1 Introduction

Chapter 1. Thinking Like an Economist

Chapter 2. Comparative Advantage

Chapter 3. Supply and Demand

Part 2 Competition and the Invisible Hand

Chapter 4. Elasticity

Chapter 5. Demand

Chapter 6. Perfectly Competitive Supply

Chapter 7. Efficiency, Exchange, and the Invisible Hand in Action

Part 3 Market Imperfections

Chapter 8. Monopoly, Oligopoly, and MonopolisticCompetition

Chapter 9. Games and Strategic Behavior

Chapter 10. Externalities and Property Rights

Chapter 11. The Economics of Information

Part 4 Economics of Public Policy

Chapter 12. Labor Markets, Poverty, and Income Distribution

Chapter 13. The Environment, Health, and Safety

Chapter 14. Public Goods and Tax Policy

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