Microeconomics An Intuitive Approach with Calculus (with Study Guide)

by Nechyba, Thomas

• ISBN13: 9780538453257
• ISBN10: 0538453257
• Edition: 1st
• Format: Hardcover
• Copyright: 2010-01-08
• Publisher: Cengage Learning

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

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