Table of Contents

Modern Principles: Microeconomics

  1. The Big Ideas

Supply and Demand

  1. Supply and Demand
  2. Equilibrium: How Supply and Demand Determine Prices
  3. Elasticity and its Applications

Appendix: Elasticities with Excel
Appendix: Other Types of Elasticities

The Price System

  1. The Price System: Signals, Speculation and Prediction
  2. Price Ceilings
  3. Price Floors, Taxes and Subsidies
  4. International Trade and Globalization
  5. Externalities: When Prices Send the Wrong Signals

Firms and Factor Markets

  1. Profits, Prices and Costs Under Competition
  2. Monopoly
  3. Price Discrimination
  4. Cartels, Games, and Network Goods
  5. Labor Markets
  6. Getting Incentives Right: Lessons for Business, Sports, Politics and Life
  7. Stock Markets and Personal Finance

Government

  1. Public Goods and the Tragedy of the Commons

Appendix: The Tragedy of the Commons: How Fast?

  1. Economics, Ethics and Public Policy
  2. Political Economy

Back-of-Book Appendices

    1. Reading Graphs in Economics
    2. Answers to Check Yourself

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