Economics is a subject you "learn by doing. "Foundations of
Microeconomics breaks the mold of a traditional text and becomes a
practice-oriented learning system. Each chapter uses a Checklist to
focus readers' attention on the most important key concepts. A
discrete section introduces each of these core concepts and is
immediately followed by a Checkpoint, a full page of practice that
applies the concept. The result is a patient, confidence-building
approach that prepares readers to "use" economics in their lives,
regardless of what their future career will be.
Introduction: Getting Started; The U.S. and Global Economies; The
Economic Problem; Demand and Supply. A Closer Look at Markets:
Elasticities of Demand and Supply; Efficiency and Fairness of
Markets. How Governments Influence the Economy: Markets in Action;
Taxes; Global Markets in Action; Externalities; Public Goods and
Common Resources. A Closer Look at Decision Makers: Consumer Choice
and Demand; Production and Cost. Prices, Profits, and Industry
Performance: Perfect Competition; Monopoly; Monopolistic
Competition; Oligopoly. Incomes, Uncertainty, and Inequality:
Demand and Supply in Factor Markets; Uncertainty and Information;
Inequality and Poverty.
For all readers interested in microeconomics.
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