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Economics Today: The Micro View, 20th edition

Published by Pearson (February 21, 2020) © 2021

  • Roger LeRoy Miller Institute for University Studies, Arlington Texas

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For principles of microeconomics courses.

Economics brought to life through real-world application

Economics Today: The Micro View addresses real, cutting-edge issues while connecting concepts to students' lives. The text illustrates how economics is front and center in readers' daily routines. It also provides them with ways to evaluate their understanding of key concepts covered in each chapter.

The 20th Edition includes emphasis on behavioral economics, along with all-new problems and features that engage students and help them focus on the central ideas in economics today. With a brand new video program, students can visualize and understand key economic principles in a modern and engaging way.

Hallmark features of this title

Tools to facilitate learning

  • Learning Objectives with opportunities for self-assessment help focus students' studying and ensure they've successfully grasped key concepts.

Resources for critical thinking and analysis

  • Self-Check exercises let learners check their understanding before moving on.
  • Fundamental Points boxes provide a quick rundown of the most salient concepts students must understand for each chapter, enhancing information retention.
  • Critical Analysis questions provide further opportunity for discussion and skill development.

New and updated features of this title

Concepts that connect with real business

  • UPDATED: Discussions and examples on the latest domestic and global economic events engage students.
  • UPDATED: An emphasis on behavioral economics (and the theory of bounded rationality) ensures students fully comprehend the fundamentals.

Tools to facilitate learning

  • NEW: Chapter-Opening Vignettes present relatable stories that set up the concepts to be covered. Students learn the real-life implications of those concepts with a continuing Issues and Applications feature at the end of every chapter.
  • NEW: AI Decision-Making Through Data boxes examine how AI is impacting every aspect of our economic lives. Examples include global tourism (Ch. 3) and big data as a public good (Ch. 5).

Resources for critical thinking and analysis

  • NEW: What Happens When features help students apply previously discussed theory to understand the intended and unintended consequences of economic concepts.
  • NEW: Economics in Your Life boxes ask students to consider questions related to their lives and careers, adding a personal dimension to the material.

Highlights of the DIGITAL UPDATE for MyLab Economics (available for Fall 2022 classes)

Instructors, contact your sales rep to ensure you have the most recent version of the course.

  • NEW: The Economics Research Today Video Series contains 31 videos featuring contemporary research from a diverse set of economics scholars presented in an engaging and accessible manner. Profiles include Emily Oster, Glen Loury, Seema Jayachandran, and Rhonda Vonshay Sharpe.
  • NEW: With Podcast Exercises, students listen to a podcast and then answer questions about related economic principles.
  • 27 NEW: Inclusive Economics Videos focus on diversity, equity and inclusion topics in economics, including the gender and racial wealth gap, inequality in the housing market, and the effect of inequality on the economy. They encourage students to critically think about models and messy data.

Highlights of the DIGITAL UPDATE for MyLab Economics (available for Spring 2021 classes)

NEW: A new Appendix highlights policy, behavioral, and international examples and applications related to the COVID-19 pandemic. It includes:

  • Chapter 1: Altered Retail Shopping Incentives in the Wake of the Coronavirus Outbreak
  • Chapter 6: Assessing Coronavirus-Related Effects on State Governments' Tax Revenues
  • Chapter 26: Global Shipping: Container Volume and Oligopolistic Pricing in the Wake of the Pandemic

Features of MyLab Economics for the 20th Edition; published 2020

  • Pearson eText is an easy-to-use digital textbook, available with MyLab. It lets students read, highlight and take notes all in one place, even when offline.
  • NEW: The Video Program features brief instructional videos paired with key content in graphs and figures, etc., which help students understand essential and difficult to grasp economic concepts.
  • Dynamic Study Modules use the latest developments in cognitive science. They help students study chapter topics by adapting to their performance in real time.

PART 1: INTRODUCTION

  1. The Nature of Economics
  2. Scarcity and the World of Trade-Offs
  3. Demand and Supply
  4. Extensions of Demand and Supply Analysis
  5. Public Spending and Public Choice
  6. Funding the Public Sector

PART 5: DIMENSIONS OF MICROECONOMICS

  1. Demand and Supply Elasticity
  2. Consumer Choice
  3. Rents, Profits, and the Financial Environment of Business

PART 6: MARKET STRUCTURE, RESOURCE ALLOCATION, AND REGULATION

  1. The Firm: Cost and Output Determination
  2. Perfect Competition
  3. Monopoly
  4. Monopolistic Competition
  5. Oligopoly and Strategic Behavior
  6. Regulation and Antitrust Policy in a Globalized Economy

PART 7: LABOR RESOURCES AND THE ENVIRONMENT

  1. The Labor Market
  2. Income, Poverty, and Health Care
  3. Environmental Economics

PART 8: GLOBAL ECONOMICS

  1. Comparative Advantage and the Open Economy
  2. Exchange Rates and the Balance of Payments

About our author

Roger LeRoy Miller has served on the faculty of several universities, including the University of Washington, Clemson University, and the University of Miami School of Law. As a professor, he has taught intellectual property law and entertainment law, among other subjects. A widely published and respected author, his work has appeared in the Insurance Counsel Journal, Defense Research, California Trial Lawyers Journal, Antitrust Bulletin, Wisconsin Law Review, and Connecticut Law Review. Professor Miller completed his studies at the University of California at Berkeley and University of Chicago.

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