For the principle of microeconomics course. This book is also suitable for all readers interested in economics.
Thoroughly updated, stripped of technical detail where possible, extensively illustrated with well-chosen photographs, enlivened with new applications features that focus on issues at play in today’s world, responsive to the suggestions of reviewers and users, and seamlessly integrated with MyEconLab: These are the hallmarks of this eleventh edition of Microeconomics.
Parkin brings critical issues to the forefront. Each chapter begins with one of today’s key issues, and additional issues appear throughout the chapter to show the real-world applications of the theory being discussed. When the chapter concludes, readers “read between the lines” to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to and deeper understanding of today’s events. Readers will begin to think about issues the way real economists do and learn how to explore difficult policy problems and make more informed decisions in their own economic lives.
Parkin is so committed to currency that he uploads news articles almost daily to MyEconLab®, the online assessment and tutorial system that accompanies the text. Assessment questions based on the Economics in the News articles are uploaded periodically so that instructors can assign recent articles within MyEconLab. Note: If you are purchasing the standalone text or electronic version, MyEconLab does not come automatically packaged with the text. To purchase MyEconLab, please visit: www.myeconlab.com or you can purchase a package of the physical text + MyEconLab by searching the Pearson web site.¿ MyEconLab is not a self-paced technology and should only be purchased when required by an instructor.
Table of Contents
1. What is Economics?
2. The Economic Problem
II. How Markets Work
3. Demand and Supply
5. Efficiency and Equity
6. Government Actions in Markets
7. Global Markets in Action
III. Households’ Choices
8. Utility and Demand
9. Possibilities, Preferences, and Choices
IV. Firms and Markets
10. Organizing Production
11. Output and Costs
12. Perfect Competition
14. Monopolistic Competition
V. Market Failure and Government
16. Public Choices and Public Goods
17. Externalities and the Environment
VI. Factor Markets, Inequality, and Uncertainty
18. Markets for Factors of Production
19. Economic Inequality
20. Uncertainty and Information
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