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  • Edition: 6th
  • Format: Paperback
  • Copyright: 2005-07-08
  • Publisher: McGraw-Hill/Irwin
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An examination of microeconomic models in practical use Microeconomics explores the strengths and weaknesses of standard models of microeconomics and how they are actually used in policy. Chapters discuss the basics of microeconomics; foundations of supply and demand; market structure and policy; monopolistic competition; distribution of income; and the ways economic reasoning is applied to real-world policy. Sidebars reinforce the economic tools presented, while more then four hours of website-accessible video provide interactive exercises and animated tutorials.

Table of Contents

Introduction: Thinking Like An Economist
Economics and Economic Reasoning
Trade, Trade-off's and Government Policy
The Evolving U.S. Economy in Perspective
Supply and Demand
Using Supply and Demand
Microeconomics I: Microeconomics: The Basics
Describing Supply and Demand: Elasticities
Taxation and Government Intervention II: Foundations of Supply and Demand
The Logic of Individual Choice: The Foundation of Supply and Demand
Production and Cost Analysis I
Production and Cost Analysis II
Market Structure and Policy
Perfect Competition
Monopolistic Competition, Oligopoly, and Strategic Pricing
Real-World Competition and Technology
Antitrust Policy and Regulation
Factor Markets
Work and the Labor Market
Who Gets What? The Distribution of Income
Applying Economic Reasoning to Policy
Government Policy and Market Failures
Politics and Economics: The Case of Agriculture Markets
Microeconomic Policy, Economic Reasoning, and Beyond
International Trade Policy, Comparative Advantage, and Outsourcing
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