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.
Table of Contents
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 EconomyCh 19: International Trade and Public Policy
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We recommend Microeconomics: Principles, Applications and Tools, Student Value Edition, 8th Edition as a replacement.