Economics is global and the Eighth Edition of MICROECONOMICS maintains the hallmarks of the Boyes/Melvin series--accessible writing, strong pedagogy, and integration of global economic issues--while faithfully presenting the latest thinking of economists on important microeconomic phenomena. The authors have carefully integrated their popular pedagogy, cutting-edge teaching and learning technology, and a full range of supplements to create a complete program that clearly illustrates the connections between key microeconomic principles and real-world business practices. The text has also been thoroughly updated with recent data and extensive coverage of important current issues, such as the economic effects of the war in Iraq, the 2008 financial crisis, and China's emergence as an economic power. In addition, MICROECONOMICS, Eighth Edition, provides an in-depth exploration of one of today's most significant issues--globalization--and its impact on economic growth and poverty, including a comparison of international standards of living and Global Business Insight features that illustrate microeconomic concepts with examples from around the world.
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Review:
Part I: INTRODUCTION TO ECONOMICS. 1. The Central Idea. 2. Observing and Explaining the Economy. 3. The Supply and Demand Model. 4. Subtleties of the Supply and Demand Model: Price Floors, Price Ceilings and Elasticity. Part II: PRINCIPLES OF MICROECONOMICS. 5. The Demand Curve and the Behavior of Consumers. 6. The Supply Curve and the Behavior of Firms. 7. The Efficiency of Markets. Part III: THE ECONOMICS OF THE FIRM 8. Costs and the Changes at Firms Over Time. 9. The Rise and Fall of Industries. 10. Monopoly. 11. Product Differentiation and Monopolistic Competition. 12. Antitrust Policy and Regulation. Part IV: MARKETS. 13. Labor Markets. 14. Taxes, Transfers and Income Distribution. 15. Public Goods, Externalities and Government Behavior. 16. Capital and Financial Markets. Appendix to Chapter 2: Reading, Understanding, and Creating Graphs. Appendix to Chapter 5: Consumer Theory with Indifference Curves. Appendix to Chapter 8: Producer Theory with Isoquants.
About the Author:
John B. Taylor, Stanford University,
Lionel Frost, La Trobe University
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