Principles of Microeconomics

 Principles of Microeconomics Paperback – 30 August 2019 

by Karl E. Case Ray C. Fair Sharon E. Oster


Reviewers tell us that Case/Fair/Oster is one of the all-time bestselling Principles of Economics texts because they trust it to be clear, thorough and complete. Readers of Principles of Microeconomics, Twelfth Edition, come away with a basic understanding of how market economies function, an appreciation for the things they do well and a sense of things they do poorly. With the latest research and added exercises, students begin to learn the art and science of economic thinking and start to look at some policy and even personal decisions in a different way.
Shows the Power and Breadth of Economic Models
New! Chapter 8 uses the example of a Taylor Swift concert to explain fixed versus variable costs.
New! Chapter 9 explores economies of scale with the example of Google’s advantages in the search market.
New! Chapter 13 asks whether the National Football League (NFL) is a “single (business) entity” and uses it to assess the economies of scale, business agreements and monopolies.
New! Chapter 16 looks at how firms use carbon prices to motivate managers to be more conscious in their investment decisions about the environment.
Table of Contents
Part I: Introduction To Economics
1. The Scope and Method of Economics
2. The Economic Problem: Scarcity and Choice
3. Demand, Supply and Market Equilibrium
4. Demand and Supply Applications
5. Elasticity
Part II: The Market System
6. Household Behaviour and Consumer Choice
7. The Production Process: The Behaviour of Profit-Maximizing Firms
8. Short-Run Costs and Output Decisions
9. Long-Run Costs and Output Decisions
10. Input Demand: The Labour and Land Markets
11. Input Demand: The Capital Market and the Investment Decision
12. General Equilibrium and the Efficiency of Perfect Competition
Part III: Market Imperfections and the Role of Government
13. Monopoly and Antitrust Policy
14. Oligopoly
15. Monopolistic Competition
16. Externalities, Public Goods and Common Resources
17. Uncertainty and Asymmetric Information
18. Income Distribution and Poverty
19. Public Finance: The Economics of Taxation
Part IV: The World Economy
20. International Trade, Comparative Advantage and Protectionism
21. Economic Growth in Developing Economies
Part V: Methodology
22. Critical Thinking about Research.

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