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Full Description
For courses in Principles of Microeconomics.
An evidence-based approach to economics
Throughout Microeconomics, 2nd Edition, authors Daron Acemoglu, David Laibson, and John List use real economic questions and data to help students learn about the world around them. Taking a fresh approach, they use the themes of optimisation, equilibrium, and empiricism to not only illustrate the power of simple economic ideas, but also to explain and predict what's happening in today's society. Each chapter begins with an empirical question that is relevant to the life of a student, and is later answered using data in the Evidence-Based Economics feature. As a result of the text's practical emphasis, students will learn to apply economic principles to guide the decisions they make in their own lives.
Contents
PART I: INTRODUCTION TO ECONOMICS
1. The Principles and Practice of Economics
2. Economic Methods and Economic Questions
3. Optimization: Doing the Best You Can
4. Demand, Supply, and Equilibrium
PART II: FOUNDATIONS OF MICROECONOMICS
5. Consumers and Incentives
6. Sellers and Incentives
7. Perfect Competition and the Invisible Hand
8. Trade
9. Externalities and Public Goods
10. The Government in the Economy: Taxation and Regulation
11. Markets for Factors of Production
PART III: MARKET STRUCTURE
12. Monopoly
13. Game Theory and Strategic Play
14. Oligopoly and Monopolistic Competition
PART IV: EXTENDING THE MICROECONOMIC TOOLBOX
15. Trade-offs Involving Time and Risk
16. The Economics of Information
17. Auctions and Bargaining
18. Social Economics
