Principles of Microeconomics

Irene Foster, John Swinton, PJ Glandon, Stephen Buckles

Is the ‘surge pricing’ used by rideshare apps a form of price gouging or simply the market system at work? Why does the Justice Department sue to block the merger of certain companies? Why are tariffs on foreign goods considered a tax on U.S. consumers? Principles of Microeconomics benefits from an active learning approach that asks students to think like economists. The text features interactive assessments and tools that bring in the real world, showcasing how and why individuals, companies, industries, and governments choose their actions.

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Table of Contents for Principles of Microeconomics

Introduction
Chapter 1: An Introduction to Economic Analysis
Chapter 2: An Economic Model
Chapter 3: Demand, Supply, and Markets
Chapter 4: Using Supply and Demand: Elasticity, Price Controls, and Taxes
Chapter 5: Behind Demand: The Concept of Utility
Chapter 6: Behind Supply: The Short Run
Chapter 7: Behind Supply: The Long Run
Chapter 8: Competitive Markets
Chapter 9: Monopoly
Chapter 10: Between Perfect Competition and Monopoly
Chapter 11: Regulation of Firms with Market Power
Chapter 12: Government Spending and Revenue: Taxation, Efficiency, and Fairness
Chapter 13: When Markets Fail: The Role of Government