Microeconomics : Principles and Applications, and Tools, with MyEconLab and EBook 1-Sem Package

by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen

• ISBN13: 9780132405256
• ISBN10: 0132405253
• Edition: 6th
• Format: Paperback
• Copyright: 2010-01-01
• Publisher: Prentice Hall

Summary

The book provides a clear, concise, and accessible presentation of key points. Its hallmark feature includes a focus on the 5 Key Principles of Economics1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), 5) The Reality Principle (distinguishing real from nominal magnitudes). For financial professionals and analysts.

Table of Contents

Introduction and Key Principles

Introduction: What is Economics?

Appendix: Using Graphs & Percentages

Key Principles of Economics

Exchange and Markets

Demand, Supply, and Market Equilibrium

A Closer Look at Demand and Supply

Elasticity: A Measure of Responsiveness

Market Efficiency and Government Intervention

Consumer Choice Using Utility Theory

Appendix: Consumer Choice with Indifference Curves

Market Structures and Pricing

Production Technology and Cost

Perfect Competition: Short Run and Long Run

Monopoly and Price Discrimination

Market Entry and Monopolistic Competition

Oligopoly and Strategic Behavior

Controlling Market Power: Antitrust and Regulation

Externalities and Information

Imperfect Information: Adverse Selection and Moral Hazard

Public Goods and Public Choice

External Costs and Environmental Policy

The Labor Market and Income Distribution

The Labor Market, Income, and Poverty

Unions, Monopsony, and Imperfect Information

The International Economy

International Trade and Public Policy

Table of Contents provided by Publisher. All Rights Reserved.