Course Level 1: Introductory

Estimated Study Time: 100+ hours

Principles of Microeconomics has been developed to meet the scope and sequence of most introductory microeconomics classes. At the same time, the class includes a number of innovative features designed to enhance student learning. New data are incorporated for topics that range from average U.S. household consumption to the total value of all home equity. The Keystone Pipeline, Occupy Wall Street, and minimum wage debates are just a few of the other important topics covered.

Table of Contents

Preface

1 Welcome to Economics!
2 Choice in a World of Scarcity
3 Demand and Supply
4 Labor and Financial Markets
5 Elasticity
6 Consumer Choices
7 Cost and Industry Structure
8 Perfect Competition
9 Monopoly
10 Monopolistic Competition and Oligopoly
11 Monopoly and Antitrust Policy
12 Environmental Protection and Negative Externalities
13 Positive Externalities and Public Goods
14 Poverty and Economic Inequality
15 Issues in Labor Markets: Unions, Discrimination, Immigration
16 Information, Risk, and Insurance
17 Financial Markets
18 Public Economy
19 International Trade
20 Globalization and Protectionism

The Use of Mathematics in Principles of Economics
Indifference Curves
Present Discounted Value

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