Principles of Microeconomics

by Ruffin, Roy J.; Gregory, Paul R.

• ISBN13: 9780321077318
• ISBN10: 0321077318
• Edition: 7th
• Format: Paperback
• Copyright: 2001-01-01
• Publisher: Addison Wesley

Summary

Through its Defining Moments theme, the Ruffin/Gregory text provides a historical basis for students to understand the economic theories and policies of today. Defining Moments outline the ideas behind the most important events of economicsthe Industrial Revolution, the Rise and Fall of Socialism, the Great Depression, Globalization, and the Information Revolution. In addition to thoroughly updated microeconomics coverage, the new edition features a wealth of up-to-date boxed examples and all-new pedagogical features, including Learning Objectives, Chapter Puzzles, and Web Questions.

Table of Contents

Part I Introduction	1	(97)
Economics and the World Around Us: Defining Moments	3	(28)
Unlimited Wants, Scarce Resources	31	(16)
The Price System and the Economic Problem	47	(14)
Demand and Supply	61	(22)
Unintended Consequences	83	(14)
Part II Product Markets	97	(196)
Elasticity of Demand and Supply	99	(18)
Demand and Utility	117	(24)
Economic Organization: Property Rights and the Firm	141	(18)
Productivity and Costs	159	(24)
Perfect Competition	183	(22)
Monopoly and Monopolistic Competition	205	(18)
Competition, Efficiency, and Innovation	223	(14)
The Game of Oligopoly	237	(18)
Regulation and Antitrust	255	(20)
The Economics of Information	275	(18)
Part III Factor Markets	293	(72)
Factor Markets	295	(14)
Labor: The Human Factor	309	(20)
Interest, Rent, and Profit	329	(16)
Inequality, Income Distribution, and Poverty	345	(20)
Part IV Microeconomic Issues	365	(316)
Market Failure, the Environment, and Natural Resources	367	(16)
Government Spending, Taxation, and the Economy	383	(20)
Public Choice	403	(278)
Part VIII The World Economy	681
International Trade	683