Microeconomics

Parkin brings critical issues to the forefront. Each chapter begins with one of today's key issues, and additional issues appear throughout the chapter to show the real-world applications of the theory being discussed. When the chapter concludes, students "read between the lines" 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. Students will begin to think about issues the way real economists do and learn how to explore difficult policy problems and make more informed decisions in their own economic lives.I. Introduction 1. What is Economics? 2. The Economic Problem II. How Markets Work 3. Demand and Supply 4. Elasticity 5. Efficiency and Equity 6. Government Actions in Markets 7. Global Markets in Action III. Households' Choices 8. Utility and Demand 9. Possibilities, Preferences, and Choices IV. Firms and Markets 10. Organizing Production 11. Output and Costs 12. Perfect Competition 13. Monopoly 14. Monopolistic Competition 15. Oligopoly V. Market Failure and Government 16. Public Choices and Public Goods 17. Economics of the Environment VI. Factor Markets, Inequality, and Uncertainty 18. Markets for Factors of Production 19. Economic Inequality 20. Uncertainty and Information