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Principles of microeconomics

Author: Mankiw, N. Gregory Publisher: Thomson South-Western, 2007.Edition: 4th ed.Language: EnglishDescription: 533 p. : Graphs/Ill./Photos ; 25 cm.ISBN: 0324319169 ; 0324423527Type of document: BookBibliography/Index: Includes bibliographical references and index and glossary
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Book Asia Campus
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Includes bibliographical references and index and glossary

Digitized

Principles of Microeconomics: A Guided Tour Contents INTRODUCTION 1 Ten Principles of Economics 2 Thinking Like an Economist 3 Interdependence and the Gains from Trade The study of economics is guided by a few big ideas. Economists view the world as both scientists and policymakers. The theory of comparative advantage explains how people benefit from economic interdependence. HOW MARKETS WORK 4 The Market Forces of Supply and Demand 5 Elasticity and Its Application 6 Supply, Demand, and Government Policies How does the economy coordinate interdependent economic actors? Through the market forces of supply and demand. The tools of supply and demand are put to work to examine the effects of various government policies. MARKETS AND WELFARE 7 Consumers, Producers, and the Efficiency of Markets 8 Application: The Costs of Taxation 9 Application: International Trade Why is the equilibrium of supply and demand desirable for society as a whole? The concepts of consumer and producer surplus explain the efficiency of markets, the costs of taxation, and the benefits of international trade. THE ECONOMICS OF THE PUBLIC SECTOR 10 Externalities 11 Public Goods and Common Resources 12 The Design of the Tax System Market outcomes are not always efficient, and governments can sometimes remedy market failure. To fund programs, governments raise revenue through their tax systems, which are designed with a eye toward balancing efficiency and equity. FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY 13 The Costs of Production 14 Firms in Competitive Markets 15 Monopoly 16 Oligopoly 17 Monopolistic Competition The theory of the firm sheds light on the decisions that lie behind supply in competitive markets. Firms with market power can cause market outcomes to be inefficient. THE ECONOMICS OF LABOR MARKETS 18 The Markets for the Factors of Production 19 Earnings and Discrimination 20 Income Inequality and Poverty -- These chapters examine the special features of labor markets, in which most people earn most of their income. TOPICS FOR FURTHER STUDY 21 The Theory of Consumer Choice 22 Frontiers of Microeconomics Additional topics in microeconomics include household decision making, asymmetric information, political economy, and behavioral economics.

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