Microeconomics

Abstract

"For 1-semester principles of microeconomics courses.An intuitive and grounded approach to economicsMicroeconomics gets students to think like economists by incorporating the latest policy, data and discussions on important global issues.The 14th Edition emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. Hallmark features in the chapter openings and endings encourage students to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to, and deeper understanding of, today's events.Hallmark features of this titleConcepts connect to economics in the real worldEconomics in Action and Economics in the News boxes have students link models and chapter tools to the economic world around them.Interviews with Economists feature leading economists from diverse backgrounds who share what inspired them to pursue a career in economics.Ample opportunities for practiceWorked Problems, consisting of questions, solutions and key figures, help students to learn-by-doing and actively, rather than passively, review the chapter content.In-text Review Quizzes reinforce major concepts and test students' knowledge of the topics just discussed.New and updated features of this titleCoverage of the impact of a changing microeconomic marketNEW: Chapter 1, ""Getting Started"", has a new section on a diversity challenge: the under-representation of women and minorities in economics.NEW: 6 chapters examine COVID-19, including its effects on the production possibilities frontier (Ch. 2) and on the hand sanitizer market (Ch. 3), the elasticity of supply of face masks (Ch. 4), movie streaming in the pandemic (Ch. 8), the competitive market in fitness equipment and services (Ch. 12), and the increased inequality arising from Covid's labor market effects (Ch. 19).NEW: Other notable discussions and examples include a push for a