Principles of Microeconomics

Betsey Stevenson and Justin Wolfers present a new synthesis of economic principles for a new generation of students. Their focus on useful economics employs compelling explanations and real-life examples to help students develop economic intuition and apply it to everyday decisions. The authors provide a fresh take on a wide range of principles topics and develop macroeconomics from its microfoundations in an engaging presentation that has drawn enthusiastic reviews from hundreds of instructors and thousands of students in pre-publication class-tests. This text is available in Achieve, a new, integrated online learning system that features powerful tools for each step of the Learning Path: pre-class, in-class, and post-class.

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

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