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Microeconomics : Principles, Applications and Tools

Microeconomics : Principles, Applications and Tools

          
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About the Book

For Principles of Microeconomics courses. Questions that drive interest, applications that illustrate concepts, and the tools to test and solidify comprehension. Students come into their first Economics course thinking they will gain a better understanding of the economy around them. Unfortunately, they often leave with many unanswered questions. To ensure students actively internalize economics, O'Sullivan/Sheffrin/Perez use chapter-opening questions to spark interest on important economic concepts, applications that vividly illustrate those concepts and chapter-ending tools that test and solidify understanding. Key Features Demystify the Tools of Economics with The 5 key principles of economics that show students the logic of economic reasoning and demystify the tools of economics. The 5 principles are first presented in Chapter 2, and then the authors return to these 5 principles throughout the text to remind students of the underlying logic behind newly presented concepts: 1) The Principle of Opportunity Cost 2) The Marginal Principle (comparing marginal benefits and marginal costs) 3) The Principle of Diminishing Returns 4) The Principle of Voluntary Exchange 5) The Real-Nominal Principle (distinguishing real from nominal magnitudes) Economic experiments—actively involve the student in role-playing as consumers, producers, and policy makers. Stimulates student interest and are easy for professors to use and implement in a classroom of any size. See Chapter 4, Supply, Demand and Market Equilibrium after the e-o-c material. Streamlined Design with no boxes-the 6th edition of O/S/P has no boxed features that draw students' attention away from the core concepts. An "application" flows in the body of the chapter material so it will not distract students and so they will not skip the material. Table of Contents PART 1: Introduction and Key Principles Ch 1: Introduction: What is Economics? Appendix: Using Graphs & Percentages Ch 2: Key Principles of Economics Ch 3: Exchange and Markets Ch 4: Demand, Supply, and Market Equilibrium Part 2: A Closer Look at Demand and Supply Ch 5: Elasticity: A Measure of Responsiveness Ch 6: Market Efficiency and Government Intervention Ch 7: Consumer Choice Using Utility Theory Appendix: Consumer Choice with Indifference Curves Part 3: Market Structures and Pricing Ch 8: Production Technology and Cost Ch 9: Perfect Competition: Short Run and Long Run Ch 10: Monopoly and Price Discrimination Ch 11: Market Entry and Monopolistic Competition Ch 12: Oligopoly and Strategic Behavior Ch 13: Controlling Market Power: Antitrust and Regulation Part 4: Externalities and Information Ch 14: Imperfect Information: Adverse Selection and Moral Hazard Ch 15: Public Goods and Public Choice Ch 16: External Costs and Environmental Policy Part 5: The Labor Market and Income Distribution Ch 17: The Labor Market, Income, and Poverty Ch 18: Unions, Monopsony, and  Imperfect Information Part 6: The International Economy Ch 19: International Trade and Public Policy


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Product Details
  • ISBN-13: 9788131788981
  • Binding: Paperback
  • Language: English
  • ISBN-10: 8131788989
  • Edition: 7th Edition

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