Microeconomics: Principles, Applications and Tools, 7th Edition

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.

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