Microeconomics

by Boyes, William; Melvin, Michael

• ISBN13: 9780618761265
• ISBN10: 0618761268
• Edition: 7th
• Format: Paperback
• Copyright: 2007-01-22
• Publisher: South-Western College Pub

Summary

The Seventh Edition of Microeconomics maintains the hallmarks of the Boyes/Melvin series--accessible writing, strong pedagogy, and integration of global economic issues--with the revision focused on faithfully representing the latest thinking of economists on important microeconomic and macroeconomic phenomena. The authors have improved the integration of their popular pedagogy, technology, and supplements for a complete program that clearly illustrates the connection between the study of economics and the world of business. The text has been thoroughly updated to include the economic effects of the war in Iraq, the devastation of New Orleans by the Gulf Coast Hurricanes, and China's emergence as an economic power.Microeconomics, 7/e, also provides in-depth coverage of one of today's most significant issues--globalization--and how it affects economic growth and poverty. The authors examine standards of living around the world, comparing the poverty of Sub-Saharan Africa to the wealth of industrial nations. Global Business Insight boxes illustrate economic concepts with examples from around the world; corresponding thumbnail maps provide a sense of economic geography and orient students visually. In addition, all available data up to 2005, and in many cases 2006, has been included.

Table of Contents

Economics: The World Around You

Choice, Opportunity Costs, and Specialization

Markets, Demand and Supply, and the Price System

The Market System and the Private Sector

The Public Sector

Elasticity: Demand and Supply

Consumer Choice

Supply: The Costs of Doing Business

Profit Maximization

Perfect Competition

Monopoly

Monopolistic Competition and Oligopoly

Antitrust and Regulation

Government and Market Failure

Resource Markets

The Labor Market

Capital Markets

The Land Market and Natural Resources

Aging, Social Security, and Health Care

Income Distribution, Poverty, and Government Policy

World Trade Equilibrium

International Trade Restrictions

Exchange Rates and Financial Links Between Countries

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