Textbook Details
- By:
- John B. Taylor and Akila Weerapana
- Published:
- October 2020
- Discipline:
- Economics Textbooks
- ISBN (Digital):
- 978-1-4533-3497-3
Principles of Microeconomics is co-written by two acclaimed teachers, one of whom is a globally recognized policy expert and eminent scholar. This highly regarded textbook features a remarkably accessible presentation grounded in the central idea of economics: that people make purposeful choices with scarce resources and interact with others when they make these choices. This engaging text provides simple and precise descriptions of why markets are efficient when the incentives are right and inefficient when the incentives are wrong. In addition to their impeccable credentials, both authors possess recent and extensive classroom-based experiences, which gives rise to authentic real-world examples that enliven the book’s narrative and readily connect with students.
Brief Table of Contents
Chapter 1: The Central Idea
Chapter 2: Observing and Explaining the Economy
Chapter 3: The Supply and Demand Model
Chapter 4: Subtleties of the Supply and Demand Model
Chapter 5: The Demand Curve and the Behavior of Consumers
Chapter 6: The Supply Curve and the Behavior of Firms
Chapter 7: The Efficiency of Markets
Chapter 8: Costs and the Changes at Firms Over Time
Chapter 9: The Rise and Fall of Industries
Chapter 10: Monopoly
Chapter 11: Product Differentiation, Monopolistic Competition, and Oligopoly
Chapter 12: Antitrust Policy and Regulation
Chapter 13: Labor Markets
Chapter 14: Taxes, Transfers, and Income Distribution
Chapter 15: Public Goods, Externalities, and Government Behavior
Chapter 16: Capital and Financial Markets