Microeconomics for Life: Smart Choices for You, 3rd edition

Published by Pearson Canada (July 12, 2024) © 2025

  • Avi J. Cohen University of Toronto and York University
  • Scott Wolla Federal Reserve Bank of St. Louis
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Addresses the growing market needs and trends toward a literacy targeted approach to teaching economics, supported by an active-learning pedagogy and premium online teaching and learning resources.

Economics for Life offers a new narrative-driven approach to learning and teaching economics that demonstrates the relevance of economics to students. Accessible language and graphs, engaging first-person writing, a less-mathematical approach, and practical examples connect economics to students' lives in a meaningful way. This text helps students become economically literate citizens, unlike traditional texts which prepare them to become economics majors.

  1. What's in Economics for You? Scarcity, Opportunity Cost, Trade, and Models
  2. Making Smart Choices: The Law of Demand
  3. Show Me the Money: The Law of Supply
  4. Coordinating Smart Choices: Demand and Supply
  5. Just How Badly Do You Want It? Elasticity
  6. What Gives When Prices Don't? Government Policy Choices
  7. Getting the Most Bang per Buck: Utility behind Demand
  8. Finding Producers' Bottom Line: Profits and Cost Behind Supply
  9. Pricing Power: Market Structure and Pricing
  10. What's Perfect About Perfect Competition? Productivity, Costs, and Efficiency
  11. Pricing for Profits in Imperfect Competition: Marginal Revenue and Marginal Cost
  12. When Markets Fail: Natural Monopoly, Gaming, Competition, and Government
  13. Acid Rain on Others' Parades: Externalities, Carbon Taxes, Free Riders, and Public Goods
  14. What Are You Worth? Inputs, Incomes, and Inequality
  15. Are Sweatshops all Bad? Globalization, Trade, and Protectionism

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