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Adapted by Paul Krugman and Robin Wells from their bestselling microeconomics textbook, Microeconomics in Modules is the only text for the principles of microeconomics course organized in the supremely accessible, highly effective modular format. Instead of chapters of standard length, the book covers the fundamentals of microeconomics in 45 brief (4-10 page) modules divided into 14 sections. Microeconomics in Modules offers the best of what makes Krugman/Wells a classroom favorite (story-telling approach, engaging writing, fascinating examples and cases), in a format students and instructors will love. Extensive educational research shows that students absorb more from shorter reading assignments than longer ones. And with coverage in self-contained modules, instructors can assign specific topics without asking students to read entire chapters.
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Table of Contents
Section 1 Basic Economic Concepts Module 1 The Study of Economics Module 2 Models and the Circular Flow Module 3 The Production Possibility Frontier Model Module 4 Comparative Advantage and Trade
Section 2 Supply and Demand Module 5 Demand Module 6 Supply and Equilibrium Module 7 Changes in Equilibrium
Section 3 Elasticity and the Law of Demand Module 8 Income Effects, Substitution Effects, and Elasticity Module 9 Interpreting Price Elasticity of Demand Module 10 Other Elasticities
Section 4 Market Efficiency Module 11 Consumer and Producer Surplus Module 12 Efficiency and Markets
Section 5 Government Policy and Taxes Module 13 Price Controls (Ceilings and Floors) Module 14 Quantity Controls (Quotas) Module 15 Taxes
Section 6 International Trade Module 16 Gains from Trade Module 17 Supply, Demand, and Trade
Section 7 Economics and Decision Making Module 18 Making Decisions Module 19 Behavioral Economics Module 20 Maximizing Utility
Section 8 Production and Costs Module 21 The Production Function Module 22 Firm Costs Module 23 Long-Run Costs and Economies of Scale
Section 9 Market Structure and Perfect Competition Module 24 Market Structure Module 25 Perfect Competition Module 26 Graphing Perfect Competition Module 27 Long-Run Outcomes in Perfect Competition Section 10 Monopoly Module 28 Monopoly in Practice Module 29 Monopoly and Public Policy Module 30 Price Discrimination
Section 11 Imperfect Competition Module 31 Oligopoly Module 32 Game Theory Module 33 Oligopoly in Practice Module 34 Monopolistic Competition Module 35 Product Differentiation and Advertising Section 12 Market Failure and the Role of Government Module 36 Externalities Module 37 Externalities and Public Policy Module 38 Public Goods and Common Resources Module 39 The Economics of the Welfare State
Section 13 Factor Markets and the Distribution of Income Module 40 Factor Markets Module 41 Marginal Productivity Theory Module 42 The Market for Labor Section 14 Additional Topics in Microeconomics Module 43 The Cost-Minimizing Input Combination Module 44 The Time Value of Money Module 45 The Economics of Information Appendix Graphs in Economics Solutions to Module Review Questions Glossary Index