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Microeconomics: Theory and Applications with Calculus, Global Edition, 5th edition

Published by Pearson (July 21, 2021) © 2021

  • Jeffrey M. Perloff University of California-Berkeley

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Support your students' knowledge of modern microeconomics from theory to practice.

Microeconomics: Theory and Applications with Calculus, 5th Edition, is the ideal intermediate microeconomics text that combines calculus, algebra, and graphs, allowing you to guide your students through the theory of the discipline and analysis of real-world problems.

Following a step-by-step approach, this book will support your students' learning from theory to practice. The new edition now includes considerable updates and features to further support your students' learning and help them keep up-to-date with the latest advancements in the field.

Reach every student with MyLab®Economics.

Hallmark features of this title

A textbook that differs from most microeconomic texts.

  • Uses a mixture of calculus, algebra, and graphs to define economic theory.
  • Integrates real-world examples and extended applications.
  • Places greater emphasis on modern theories, such as industrial organisation theories, game theory, and behavioural economics.
  • Follows a step-by-step approach to demonstrate how microeconomic theory can solve problems and analyse policy issues.

A book that focuses on real-world issues to reinforce your students' understanding.

  • The text uses theory and analyses real-world problems, offering your students a breadth of learning resources from theory to practice.
  • The content emphasises that economic theory has practical, problem-solving uses and is not just an empty academic exercise.

New and updated features of this title

Considerably revised and updated chapters include new content and practical applications.

  • A new Appendix and Basic Calculus in this new edition offer an additional learning resource to your students (available only online in the previous edition).
  • New feature Common Confusions describes a widely held belief that economic theory or evidence rejects.
  • New feature, Unintended Consequences, describes how some policies and other actions have potent side effects beyond the intended ones.
  • An increased number of Challenges combine an Application with a Solved Problem and help your students see how theory can solve real-life problems.

A closer look at some of the new features for this edition.

  • Real-World Examples use real people, companies, and data to illustrate the modern microeconomic theory, providing a versatile, practical perspective.
  • What-If Policy Analysis sections use microeconomic models, prompting your students to conduct analyses of public policies and probe the likely outcomes.
  • Solved Problems provide students with a step-by-step model for working out qualitative and quantitative problems using algebra and calculus.
  • End-of Chapter exercises combined with the Solved problems allow your students to practice their knowledge and understanding of the concepts presented.

Features of MyLab® Economics for the 5th Edition

An online homework and tutorial environment for your students as part of their learning experience.

MyLab® is the teaching and learning platform that allows instructors to reach every student with powerful self-study material and assessments.

A series of interactive material help students master and retain key concepts.
  • Teach your course your way: Whetheryou would like to build assignments or create your own questions, MyLab gives you the flexibility to create a course to fit your needs.
  • Learning Catalytics is a student response tool that uses students’ smartphones, tablets, or laptops to engage them in more interactive tasks and thinking. Learning Catalytics fosters student engagement and peer-to-peer learning with real-time analytics.
  • Economic Experiments allow your students to experience real-world scenarios and learn core concepts according to engaging situations.
A learning environment beyond the classroom where your students can apply what they have learned.
  • Graphing and Current News Exercises help your students apply and master theory and analysis learned in the classroom and understand real-world market issues outside of class.
  • A set of videos in MyLab Economics promote your students’ understanding of what they are reading and discussing in the classroom.

Enhance student learning with MyLab®Economics.

Features of Pearson eText for the 5th Edition

Support your students' knowledge of modern microeconomics from theory to practice.

Extend learning beyond the classroom with Pearson eText – an easy-to-use digital textbook.

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  • Find it fast. Enhanced search makes it easy to find a key term or topic to study. Students can also search videos, images, and their own notes.
  • Get organised and get results. Students can customise how they study and add their own notes, bookmarks, and highlights directly in their eText.
  • Study in a flash. Students can use pre-built flashcards or create their own to study how they like.
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Find out more about Pearson eText.

  1. Introduction
  2. Supply and Demand
  3. A Consumer's Constrained Choice
  4. Demand
  5. Consumer Welfare and Policy Analysis
  6. Firms and Production
  7. Costs
  8. Competitive Firms and Markets
  9. Properties and Applications of the Competitive Model
  10. General Equilibrium and Economic Welfare
  11. Monopoly and Monopsony
  12. Pricing and Advertising
  13. Game Theory
  14. Oligopoly and Monopolistic Competition
  15. Factor Markets
  16. Uncertainty
  17. Property Rights, Externalities, Rivalry, and Exclusion
  18. Asymmetric Information
  19. Contracts and Moral Hazards

Jeffrey M. Perloff is a professor in the Department of Agricultural and Resource Economics at the University of California at Berkeley. His economic research covers industrial organisation, marketing, labour, trade and econometrics.

His textbooks are Modern Industrial Organization (with Dennis Carlton), Microeconomics, Microeconomics: Theory and Applications with Calculus, Estimating Market Power and Strategies (with Larry Karp and Amos Golan), and Managerial Economics and Strategy (with James Brander).

He has been an editor of Industrial Relations and the Journal of Industrial Organization Education, and an associate editor of the American Journal of Agricultural Economics and the Journal of Productivity Analysis. He has consulted with nonprofit organisations and government agencies (including the Federal Trade Commission and the Departments of Commerce, Justice, and Agriculture) on topics ranging from a case of alleged Japanese television dumping to the evaluation of social programs.

He has also conducted research in psychology.

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Pearson eText

Extend learning beyond the classroom. Pearson eText is an easy-to-use digital textbook. It lets students customise how they study and learn with enhanced search and the ability to create flashcards, highlight and add notes all in one place. The mobile app lets students learn wherever life takes them, offline or online.

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