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Full Description
Microeconomics presents real economic questions and data to help you learn about the world around you. The text uses themes of optimization, 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.
In the 3rd Edition, each chapter begins with an empirical, relevant question that is later answered using data in the Evidence-Based Economics feature. As a result of the text's practical emphasis, you'll learn to apply economic principles to guide the decisions you make in your own daily life.
Contents
1 The Principles and Practice of Economics
2 Economic Science: Using Data and Models to Understand the World
3 Optimization: Trying to Do the Best You Can
4 Demand, Supply, and Equilibrium
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
12 Monopoly
13 Game Theory and Strategic Play
14 Oligopoly and Monopolistic Competition
15 Trade-offs Involving Time and Risk
16 The Economics of Information
17 Auctions and Bargaining
18 Social Economics
