This core intermediate microeconomics textbook bridges the gap between today’s theory and practice in microeconomics. As well as teaching economics, the authors are active microeconomics researchers, lending this title a strong empirical dimension.
Case studies and plenty of examples from a range of sources show how microeconomic theory informs consumer and producer decision making in real situations. Students are enabled to test theory and successfully apply it, helping them to answer two critical questions; "Do people and firms really act as theory suggests?" and "How can someone use microeconomics in a practical way?”.
A comprehensive text, ideal for undergraduate Microeconomics courses.
Freakonomics essays apply economic analysis to common phenomena, including 3D printers and Yelp, helping to foster economic intuition
Figure It Out worked-out problems walk students through the process of how to use economic tools and analysis to think through a problem and develop its solution
Make the Grade essays point out common pitfalls and help students navigate through the finer points of micro theory
new_to_this_edition
New case studies throughout the text, on topics ranging from patent length and drug development to highly-paid professional athletes and the sunk cost fallacy
A new chapter, Factor Markets (Ch. 13) brings all the content on factor markets into one chapter
End-of-chapter problems have been revised, with one now in every section of the book
Title is also available as part of a set: Microeconomics plus LaunchPad Access (978-1-137-60950-2)