Principles of Microeconomics 5E caters for a single semester introductory unit in Microeconomics. The latest edition of this text continues to focus on important concepts and analyses necessary for students in an introductory economics course. In keeping with the authors' philosophy of showing students the power of economic tools and the importance of economic ideas, this edition pays careful attention to regional and global policies and economic issues, such as climate change and resource taxation. Accompanied by CourseMate, comprising flashcards, graphing workshops, games, quizzes, videos. Aplia is available with this text.
Part I: Introduction 1. Ten lessons from economics 2. Thinking like an economist 3. Interdependence and the gains from trade Part II: Supply and demand I: How markets work 4. The market forces of supply and demand 5. Elasticity and its application 6. Supply, demand and government policies Part III: Supply and demand II: Markets and Welfare 7. Consumers, producers and the efficiency of markets 8. Application: The costs of taxation 9. Application: International trade Part IV: The economics of the public sector 10. Externalities 11. Public goods and common resources 12. The design of the tax system Part V: Firm behaviour and the organisation of industry 13. The costs of production 14. Firms in competitive markets 15. Monopoly 16. Business strategy 17. Competition policy 18. Monopolistic competition Part VI: The economics of labour markets 19. The markets for the factors of production 20. Earnings, unions and discrimination 21. Income inequality and poverty Part VII: Topics for further study 22. The theory of consumer choice 23. Frontiers of microeconomics
Tertiary; University or College
Number Of Pages: 592
Published: 16th November 2011
Publisher: Cengage Learning Australia
Edition Number: 5