Microeconomics

For the two-semester principles of economics course. An intuitive and grounded approach to economics Get students to think like an Economist using the latest policy and data while incorporating global issues. Microeconomics, Twelfth Edition builds on the foundation of the previous edition and retains a thorough and careful presentation of the principles of economics. Microeconomics emphasizes real-world applications, the development of critical thinking skills, diagrams renowned for pedagogy and clarity, and path-breaking technology. Each chapter opens with one of today's central issues and is then revisited in the chapter ending Economics in the News feature. This Parkin hallmark encourages student 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 to make more informed decisions in their own economic lives. Please note that the product you are purchasing does not include MyEconLab. MyEconLab Join over 11 million students benefiting from Pearson MyLabs. This title can be supported by MyEconLab, an online homework and tutorial system designed to test and build your understanding. Would you like to use the power of MyEconLab to accelerate your learning? You need both an access card and a course ID to access MyEconLab. These are the steps you need to take: 1. Make sure that your lecturer is already using the system Ask your lecturer before purchasing a MyLab product as you will need a course ID from them before you can gain access to the system. 2. Check whether an access card has been included with the book at a reduced cost If it has, it will be on the inside back cover of the book. 3. If you have a course ID but no access code, you can benefit from MyEconLab at a reduced price by purchasing a pack containing a copy of the book and an access code for MyEconLab (ISBN:9781292094779) 4. If your lecturer is using the MyLab and you would like to purchase the product...Go to www.myeconlab.com to buy access to this interactive study programme. For educator access, contact your Pearson representative. To find out who your Pearson representative is, visit www.pearsoned. co.uk/replocatorI. 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