Foundations of Microeconomics, Global Edition, 8th edition

Published by Pearson (August 23, 2018) © 2019

  • Robin Bade University of Western Ontario
  • Michael Parkin Emeritus of University of Western Ontario
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For courses in Microeconomics

Foundations of Microeconomics, 8th Edition introduces students to the economic principles they can use to navigate the financial decisions of their futures. Each chapter concentrates on a manageable number of ideas, usually 3 to 4, with each reinforced several times throughout the text. This patient approach helps guide students through unfamiliar terrain and focus them on the most important concepts.

The text does four core things to help students grasp and apply economic principles: it motivates with compelling issues and questions, focuses on core ideas, offers concise points, and encourages learning with activities and practice questions. After completing this text, students will have the foundational knowledge of how the economy works and can apply it to their lives going forward.

  • PART 1: INTRODUCTION
  • 1. Getting Started
  • 2. The U.S. and Global Economies
  • 3. The Economic Problem
  • 4. Demand and Supply
  • PART 2: A CLOSER LOOK AT MARKETS
  • 5. Elasticities of Demand and Supply
  • 6. Efficiency of Fairness and Markets
  • PART 3: HOW GOVERNMENTS INFLUENCE THE ECONOMY
  • 7. Government Actions in Markets
  • 8. Taxes
  • 9. Global Markets in Action
  • PART 4: MARKET FAILURES AND PUBLIC POLICY
  • 10. Externalities
  • 11. Public Goods and Common Resources
  • 12. Private Information and Healthcare Markets
  • PART 5: A CLOSER LOOK AT DECISION MAKERS
  • 13. Consumer Choice and Demand
  • 14. Production and Cost
  • PART 6: PRICES, PROFITS, AND INDUSTRY PERFORMANCE
  • 15. Perfect Competition
  • 16. Monopoly
  • 17. Monopolistic Competition
  • 18. Oligopoly
  • PART 7: INCOMES AND INEQUALITY
  • 19. Markets for Factors of Production
  • 20. Economic Inequality

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