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Principles of Microeconomics
First EditionNew Edition Available Betsey Stevenson; Justin Wolfers
©2020ISBN:9781319252892
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Every decision is an economic decision.
Should you buy a car or rely on Uber? Get a job, or go to grad school? Spend or save? Worry about inflation or unemployment? In Principles of Economics, you’ll learn how the basic tools of economics can be applied to decisions that range from personal and professional goals to public policy and the broader economy. Betsey Stevenson and Justin Wolfers bring a fresh voice to the dismal science, and invite you to actively engage in the process of "doing" economics. Combining fundamental theory with modern applications, familiar--yet often surprising--examples, and plenty of opportunities to practice using economic tools, Principles of Microeconomics helps students to develop economic insight.
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Learn MoreTable of Contents
Brief Contents
Preface
A Quick Review of Graphs
PART I: Foundations of Economics
Chapter 1: The Core Principles of Economics
Chapter 2: Demand: Thinking Like a Buyer
Chapter 3: Supply: Thinking Like a Seller
Chapter 4: Equilibrium: Where Supply Meets Demand
PART II: Analyzing Markets
Chapter 5: Elasticity: Measuring Responsiveness
Chapter 6: When Governments Intervene in Markets
Chapter 7: Welfare and Efficiency
Chapter 8: Gains from Trade
PART III: Applications and Policy Issues
Chapter 9: International Trade
Chapter 10: Externalities and Public Goods
Chapter 11: The Labor Market
Chapter 12: Wages, Workers, and Management
Chapter 13: Inequality, Social Insurance, and Redistribution
PART IV: Market Structure and Business Strategy
Chapter 14: Market Structure and Market Power
Chapter 15: Entry, Exit, and Long-Run Profitability
Chapter 16: Business Strategy
Chapter 17: Sophisticated Pricing Strategies
Chapter 18: Game Theory and Strategic Choices
PART V: Advanced Decisions
Chapter 19: Decisions Involving Uncertainty
Chapter 20: Decisions Involving Private Information
Glossary
Index