The integration of real-world applications throughout this text gives students a practical perspective on microeconomic theory. Students are motivated and challenged by the use of core theory and modern theories to analyze actual markets, and the author's clear, step-by-step approach to problem-solving helps them to better understand how microeconomic theory is used to solve economic problems and analyze policy issues.
I. SUPPLY AND DEMAND.2. Supply and Demand.
II. CONSUMER THEORY.4. Consumer Choice.
III. THEORY OF THE FIRM.6. Firms and Production.
IV. PERFECT COMPETITION.8. Competitive Firms and Markets.
V. MARKET POWER AND MARKET STRUCTURE.11. Monopoly.
VI. FACTOR MARKETS.15. Factor Markets and Vertical Integration.
VII. UNCERTAINTY, MISSING MARKETS, AND LIMITED INFORMATION.17. Uncertainty.