Principles Of Microeconomics - 2nd edition

Summary: This text conveys the principles of microeconomics in a superb conversational style through a series of extended examples that students relate and respond to. Students are discouraged from simply memorizing facts and engaged in active learning. Maintains a focus on presenting basic concepts in depth and developing the analysis step-by-step, rather than covering hundreds of topics superficially.

• Econom ...show moreics on the Net margin notes show where to find and how to use the best economic resources on the Internet.
• A Gottheil Web site supports all in-text Internet features as well as providing additional teaching and learning resources.
• Economic Consultants features place students in the role of the economist for a hypothetical economic research and analysis firm. These features require economic thinking and analysis, asking students to prepare a report addressing fundamental economic issues. Useful Internet addresses are included to help with research and analysis.
• Check your Understanding features raise questions at key junctures in the text for students to assess their comprehension as they read. Arrows then point to the portion of the text that contains the explanation.
• Practice Tests at the end of each chapter present 8-10 multiple choice problems like those typically found on an exam, addressing the key principles in the chapter. Students can quickly assess their understanding of the chapter before moving on to the Questions and Problems, as well as practice for taking exams. Answers are found in a text-ending appendix.
• End-of-chapter Questions tests students understanding of qualitative concepts covered in the chapter, while new Practice Problems test their ability with quantitative or graphical techniques.
• Exhibits illustrate key graphical concepts in a clear, efficient manner. New Key Graphs highlight those exhibits which demonstrate crucial principles.
• Economics Chat part openers capture real-life student conversations about economics, demonstrating why the chapters that follow are important.
• Focuses on only the key economic principles that students need to understand, and conveys these principles through stories, conversations, explanations, and powerful examples that students relate to and will therefore remember.
• Added Perspective boxes show how the economic principles introduced in the chapter relate to real-world events. Many of them are illustrations of the social science foundations of economics. Most Added Perspectives feature a question for further consideration and Internet addresses for further exploration.
• Other pedagogy includes chapter-opening Learning Objectives, in-chapter Margin Definitions, and end-of-chapter : Chapter Review and Key Terms.

Edition/Copyright: 2ND 99
Cover: Paperback
Publisher: South-Western Publishing Co.
Published: 07/28/1998
International: No

View Table of Contents

PART I. THE BASICS OF ECONOMIC ANALYSIS.

1. Introduction.
2. Production Possibilities and Opportunity Costs.
3. Demand and Supply.

PART II. INTRODUCTION TO MICROECONOMICS.

4. Elasticity.
5. Marginal Utility and Consumer Choice.
6. Price Ceilings and Price Floors.
7. Business Ownership and Organization : Proprietorships, Partnerships, and Corporations.

PART III. THE MICROECONOMICS OF PRODUCT MARKETS.

8. Costs of Production.
9. Maximizing Profit.
10. Identifying Markets and Market Structures.
11. Price and Output in Monopoly, Monopolistic Competition, and Perfect Competition.
12. Price and Output Determination Under Oligopoly.
13. Antitrust and Regulation.
14. Externalities, Market Failure, and Public Choice.

PART IV. THE MICROECONOMICS OF FACTOR MARKETS.

15. Wage Rates in Competitive Labor Markets.
16. Wages and Employment : Monopsony and Labor Unions.
17. Interest, Rent, and Profit.
18. Income Distribution and Poverty.

PART V. THE WORLD ECONOMY.

19. International Trade.
20. Exchange Rates, Balance of Payments, and International Debt.
21. Economic Problems of Less-Developed Economics.