Microeconomics Principles and Applications, Revised Edition with X-tra! CD-ROM and InfoTrac College Edition

by Hall, Robert E.; Lieberman, Marc

• ISBN13: 9780324151831
• ISBN10: 0324151837
• Edition: 2nd
• Format: Paperback
• Copyright: 2002-05-14
• Publisher: South-Western College Pub

Summary

Departing from the encyclopedic nature of most Principles texts, which encourages students to simply memorize concepts and see economics as a collection of unrelated terms, formulas, graphs, and theories, this text provides students with a picture of economics as a unified discipline; a set of interrelated tools and ideas that can be used to look at the world in a different way. This book's concise, less is more approach has been carefully crafted in terms of both content and supporting pedagogy to keep students focused on learning and applying the central ideas used in economic analysis. It uniquely employs a simple methodology throughout to emulate how economists look at problems, and teaches students how to use this same analytical process in developing their own economic analysis skills. Hall/Lieberman's careful focus on core theoretical ideas as well as systematically applying the theoretical tools to interesting real-world questions conveys the message that economics is an integrated, powerful body of knowledge that can be used to address important issues.

Table of Contents

PART I: PRELIMINARIES

1. What Is Economics? 2

Scarcity, Choice and Economic Systems

3. Supply and Demand

4. Working with Supply and Demand

PART II: MICROECONOMIC DECISION MAKERS

5. Consumer Choice

6. Production and Cost

7. How Firms Make Decisions: Profit Maximization

PART III: PRODUCT MARKETS

8. Perfect Competition

9. Monopoly

10. Monopolistic Competition and Oligopoly

PART IV

LABOR, CAPITAL AND FINANCIAL MARKETS

11. The Labor Market

12. Income Inequality

13. Capital and Financial Markets

PART V: EFFICIENCY, GOVERNMENT, AND THE GLOBAL ECONOMY

14. Economic Efficiency and the Competitive Ideal

15. Government's Role in Economic Efficiency

16. Comparative Advantage and the Gains from Trade

USING ALL THE THEORY: The Microeconomics of Domestic Security