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"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

Essential Microeconomics is designed to help students deepen their understanding of the core theory of microeconomics. Unlike other texts, this book focuses on the most important ideas and does not attempt to be encyclopedic. Two-thirds of the textbook focuses on price theory. As well as taking a new look at standard equilibrium theory, there is extensive examination of equilibrium under uncertainty, the capital asset pricing model, and arbitrage pricing theory. Choice over time is given extensive coverage and includes a basic introduction to control theory. The final third of the book, on game theory, provides a comprehensive introduction to models with asymmetric information. Topics such as auctions, signaling and mechanism design are made accessible to students who have a basic rather than a deep understanding of mathematics. Examples and diagrams are used to illustrate issues as well as formal derivations.

"Appreciation for comparative statics analysis and will be better prepared to interpret events in real markets. Learning-By-Doing exercises, embedded in the text of each Chapter, guide the student through specific numerical problems. We use three to ten Learning-By-Doing exercises in each Chapter and have designed them to illustrate the core ideas of the Chapter. They are integrated with the graphical and verbal exposition, so that students can clearly see, through the use of numbers and tangible algebraic relationships, what the graphs and words are striving to teach. These exercises set the student up to do similar practice problems as well as more difficult analytical problems at the end of each Chapter. As noted above, we have added to the already complete end-of-Chapter problem sets to give students and instructors more opportunity to assess student understanding. Chapters have between 20 and 35 end-of-Chapter exercises. There is at least one exercise for each of the topics covered in the Chapter, and the topics covered by the exercises generally follow the order of topics in the Chapter. At the end of the book, there are fully worked-out solutions to selected exercises."

"Many students who take introductory economics courses have difficulty seeing the relevance of the key concepts of opportunity cost, trade-offs, scarcity, and demand and supply to their lives and their careers. This reduces the willingness of many students to prepare for class and to be engaged during class. With this textbook, we show them how to apply economic thinking creatively to improve their work, their choices, and their daily lives. One of our main objectives in writing this textbook was to show that the fundamentals of economics are not just exciting but also alive with myriad personal applications."