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Offering a unique blend of solid theoretical content and student accessibility, this text: 1) covers all the basics of microeconomics, 2) gives student a clear idea of how economists think about the world, 3) stresses the key concepts in economics, and 4) is extremely rich in intriguing applications that convey the prevalence of economics in everyday life. By applying economics to phenomenon that students are familiar with and interested in, this book demonstrates like no other text how economic analysis can be applied to virtually anything of interest, thus helping students develop true economic intuition. Additional student-oriented features include a unique active-learning format, an emphasis on developing economic analysis skills, and an outstanding visual program for exhibits and graphs.
Table of Contents
|AN INTRODUCTION TO ECONOMICS|
|PART 1. ECONOMICS: THE SCIENCE OF SCARCITY|
|1. What Economics is About|
|Working with Diagrams|
|Should You Major in Economics? 2. Economic Activities: Producing and Trading|
|3. Supply and Demand: Theory|
|4. Supply and Demand: Practice|
|PART 2. MICROECONOMIC FUNDAMENTALS|
|6. Consumer Choice: Maximizing Utility and Behavioral Economics|
|Budget Constraint and Indifference Curve Analysis|
|7. The Firm|
|8. Production and Costs|
|PART 3. PRODUCT MARKETS AND POLICIES|
|9. Perfect Competition|
|11. Monopolistic Competition, Oligopoly, and Game Theory|
|12. Government and Product Markets: Antitrust and Regulation|
|PART 4. FACTOR MARKETS AND RELATED ISSUES|
|13. Factor Markets: With Emphasis on the Labor Market|
|14. Wages, Unions, and Labor|
|15. The Distribution of Income and Poverty|
|16. Interest, Rent, and Profit|
|PART 5. MARKET FAILURE AND PUBLIC CHOICE|
|17. Market Failure: Externalities, Public Goods, and Asymmetric Information|
|18. Public Choice: Economic Theory Applied to Politics|
|THE WORLD ECONOMY|
|PART 6. INTERNATIONAL ECONOMICS: THEORY AND POLICY|
|19. International Trade|
|20. International Finance|