9780538453257

Microeconomics An Intuitive Approach with Calculus (with Study Guide)

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  • ISBN13:

    9780538453257

  • ISBN10:

    0538453257

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 1/8/2010
  • Publisher: South-Western College Pub

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Summary

Is it more efficient to rent a car or take taxis while on vacation? How do coupons change demand? MICROECONOMICS: AN INTUITIVE APPROACH WITH CALCULUS explains the economic theory underlying day-to-day choices. The A sections of each chapter introduce concepts using intuition, a conversational writing style, everyday examples, and graphs. The B sections cover the same concepts with accessible mathematical analyses. Each copy includes access to online LiveGraphs -- a suite of interactive, animated graphs that allows you to view dimensional graphs and functions illustrated in the book, as well as some additional graphs that are not in the printed text.

Table of Contents

Introduction
Utility-Maximizing Choice: Consumers, Workers, and Savers
A Consumer's Economic Circumstances
Economic Circumstances in Labor and Financial Markets
Tastes and Indifference Curves
Different Types of Tastes
Doing the "Best" We Can
Income and Substitution Effects in Consumer Goods Markets
Wealth and Substitution Effects in Labor and Capital Markets
Demand for Goods and Supply of Labor and Capital
Consumer Surplus and Deadweight Loss
Profit-Maximizing Choice: Producers (or "Firms")
One Input and One Output: a Short-Run Producer Model
Production with Multiple Inputs
Production Decisions in the Short and Long Run
Competitive Markets and the "Invisible Hand"
Competitive Market Equilibrium
The "Invisible Hand" and the First Welfare Theorem
General Equilibrium
Choice and Markets in the Presence of Risk
Distortions of the "Invisible Hand" in Competitive Markets
Elasticities, Price-Distorting Policies, and Non-Price Rationing
Distortionary Taxes and Subsidies
Prices and Distortions across Markets
Externalities in Competitive Markets
Asymmetric Information in Competitive Markets
Distortions of the "Invisible Hand" from Strategic Decisions
Monopoly
Strategic Thinking and Game Theory
Oligopoly
Product Differentiation and Innovation in Markets
Public Goods
Governments and Politics
Considering How to Make the World a Better Place
What Is Good? Challenges from Psychology and Philosophy
Balancing Government, Civil Society, and Markets
Table of Contents provided by Publisher. All Rights Reserved.

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