Microeconomics Principles and Policy with Xtra! Student CD-ROM and InfoTrac College Edition

by Baumol, William J.; Blinder, Alan S.

• ISBN13: 9780030355172
• ISBN10: 0030355176
• Edition: 9th
• Format: Paperback
• Copyright: 2002-07-01
• Publisher: South-Western College Pub

Summary

Microeconomics: Principles and Policy remains a proven leader in the world of economics. Considered as the best policy focused principles text in the market, William J. Baumol and Alan S. Blinder's text offers a fundamental tool for learning economics. With nine editions to perfect their message, the authors continue to equip students with the knowledge and tools they need to apply modern economics to their world--now and in the future. This is all the more true today, as the U.S. economy enters its first recession in more than a decade.

Table of Contents

PART I GETTING ACQUAINTED WITH ECONOMICS
What Is Economics?	3	(16)
Scarcity and Choice: The Economic Problem	19	(14)
Supply and Demand: An Initial Look	33	(26)
PART II THE BUILDING BLOCKS OF DEMAND AND SUPPLY
Consumer Choice: Individual and Market Demand	59	(24)
Demand and Elasticity	83	(20)
Production, Inputs, And Cost: Building Blocks for Supply Analysis	103	(28)
Output, Price, And Profit: The Importance of Marginal Analysis	131	(24)
PART III MARKETS, FROM COMPETITION TO MONOPOLY: VIRTUES AND VICES
The Firm and the Industry Under Perfect Competition	155	(18)
The Price System and the Case for Free Markets	173	(20)
Monopoly	193	(16)
Between Competition and Monopoly	209	(22)
The Market Mechanism: Shortcomings and Remedies	231	(20)
Microeconomics of the ``New Economy'': Innovation and Growth	251	(24)
Real Firms and Their Financing: Stocks and Bonds	275	(22)
PART IV THE DISTRIBUTION OF INCOME
Pricing the Factors of Production	297	(22)
Labor: The Human Input	319	(24)
Poverty, Inequality, and Discrimination	343	(22)
PART V THE GOVERNMENT AND THE ECONOMY
Limiting Market Power: Regulation and Antitrust	365	(30)
Taxation and Resource Allocation	395	(20)
Externalities, the Environment, and Natural Resources	415	(26)
International Trade and Comparative Advantage	441