Principles of Microeconomics

by Case, Karl E.; Fair, Ray C.

• ISBN13: 9780131442832
• ISBN10: 013144283X
• Edition: 7th
• Format: Paperback
• Copyright: 2004-01-01
• Publisher: Prentice Hall

Summary

These two highly-respected authors have revised this best-selling book to include more current, modern subject matter and events, while maintaining those features that have contributed to its great success. It continues to use stories, graphs, and equations and a unified and logical organization to make economic concepts easy-to-understand and relevant to all readers. Users of this book see the connection between growth, trade, comparative advantage, and the production possibilities frontier. When readers understand how a simple competitive market system works, they are ready to focus on problems of real-world markets.Revamped to include such subjects as globalization and growth and development, this book explores the issues, current trends, and debates surrounding trade in the developing world. It continues to provide an excellent foundation by discussing: the scope and method of economics; scarcity and choice; demand, supply, and market equilibrium; household behavior and consumer choice; the production process; short-run and long-run costs and output decisions; input demand; monopoly and antitrust policy; oligopoly; social choice; income distribution and poverty; and public finance.An excellent resource for economists; this handy book can serve those in business, as an understanding of basic economics will prove helpful in any venture.

Table of Contents

Principles of Microeconomics

Introduction to Economics

The Scope and Method of Economics

How to Read and Understand Graphs

The Economic Problem: Scarcity and Choice

The Structure of the Canadian Economy: The Private, Public, and International Sectors

Demand, Supply, and Market Equilibrium

The Simple Mathematics of Demand and Supply

The Price System, Supply and Demand, and Elasticity

Foundation of Microeconomics: Consumers and Firms

Household Behaviour and Consumer Choice

The Behaviour of Profit-Maximizing Firms and the Production Process

From Technology and Factor Prices to Cost: Isoquants and Isocosts

Short-Run Costs and Output Decisions

Cost and Output Decisions in the Long Run

External Economies and Diseconomies and the Long-Run Industry Supply Curve

Input Demand: The Labour and Land Markets

The Capital Market and the Investment Decision

Calculating Present Value

General Equilibrium and the Efficiency of Perfect Competition

Market Imperfections and the Role of Government

Monopoly

Monopolistic Competition and Oligopoly

Competition Policy and Regulation in Canada

Externalities, Public Goods, Imperfect Information, and Social Choice

Income Distribution and Poverty

Current Microeconomic Issues

Public Finance: The Economics of Taxation

The Economics of Labour Markets and Labour Unions

Current Problems in Applied Microeconomics: Health Care and Immigration

The Global Economy

International Trade, Comparative Advantage, and Protectionism

Economic Growth in Developing Countries

Marxian Economics

Principles of Macroeconomics

Introduction to Economics

The Scope and Method of Economics

How to Read and Understand Graphs

The Economic Problem: Scarcity and Choice

The Structure of the Canadian Economy: The Private, Public, and International Sectors

Demand, Supply, and Market Equilibrium

The Simple Mathematics of Demand and Supply Functions

The Price System and Supply and Demand

Concepts and Problems in Macroeconomics

Introduction to Macroeconomics

Measuring National Output, National Income, and the Price Level

Macroeconomic Problems: Unemployment and Inflation

Macroeconomic Principles and Policy

Aggregate Expenditure and Equilibrium Output

Deriving the Multiplier Algebraically

The Government and Fiscal Policy

Deriving the Fiscal Policy Multipliers Algebraically (with neither Taxes nor Imports Depending on Income)

The Case in which Tax Revenues (but not Imports) Depend on Income

The Case in which Imports (but not Tax Revenues) Depend on Income

The Money Supply and the Bank of Canada

Deriving the Money Multiplier Algebraically

Money Demand, Interest Rates, Exchange Rates, and Monetary Policy

The Various Interest Rates in the Canadian Economy

Macroeconomic Analysis and Issues

Money, the Interest Rate, and Output: Analysis and Policy

Aggregate Demand, Aggregate Supply, and Inflation

The Labour Market, Unemployment, and Inflation

The Debt and Stabilization Policy

Household and Firm Behaviour in the Macroeconomy

Macroeconomic Policy: A Closer Look

Issues in Macroeconomic Policy: Monetarism, New Classical Theory, and Supply-Side Economics

Economic Growth and Productivity

The Global Economy

International Trade, Comparative Advantage, and Protectionism

Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates

Economic Growth in Developing Countries

Marxian Economics

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