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Microeconomics: Principles, Applications, and Tools, 10th edition

Published by Pearson (September 15, 2020) © 2020

  • Arthur O'Sullivan Oregon State University
  • Steven Sheffrin Tulane University
  • Stephen Perez California State University, Sacramento
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Students enter their first economics course hoping to gain a better understanding of the world around them, but often leave with their questions unanswered. Microeconomics: Principles, Applications, and Tools is built upon the authors' philosophy of using basic concepts of economics to explain a wide variety of relevant, current and engaging economic applications.

The 10th Edition incorporates the latest economic developments throughout. By making every chapter relevant and applied, you'll develop an understanding of core principles that you'll use as a citizen and consumer, now and in your career.

PART 1: INTRODUCTION AND KEY PRINCIPLES

  1. Introduction: What Is Economics?
  2. The Key Principles of Economics
  3. Exchange and Markets
  4. Demand, Supply, and Market Equilibrium

PART 2: A CLOSER LOOK AT DEMAND AND SUPPLY

  1. Elasticity: A Measure of Responsiveness
  2. Market Efficiency and Government Intervention
  3. Consumer Choice: Utility Theory and Insights from Neuroscience

PART 3: MARKET STRUCTURES AND PRICING

  1. Production Technology and Cost
  2. Perfect Competition
  3. Monopoly and Price Discrimination
  4. Market Entry and Monopolistic Competition
  5. Oligopoly and Strategic Behavior
  6. Controlling Market Power: Antitrust and Regulation

PART 4: EXTERNALITIES AND INFORMATION

  1. Imperfect Information: Adverse Selection and Moral Hazard
  2. Public Goods and Public Choice
  3. External Costs and Environmental Policy

PART 5: THE LABOR MARKET AND INCOME DISTRIBUTION

  1. The Labor Market and the Distribution of Income

PART 6: THE INTERNATIONAL ECONOMY

  1. International Trade and Public Policy

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