Modern Principles: Microeconomics

Fifth Edition

Publication Date: September 02, 2020

Paperback ISBN: 9781319384029

Pages: 608

Modern Principles means modern content and modern delivery.

Tyler Cowen and Alex Tabarrok communicate economic principles in a clear, captivating way. This has had demonstrable effect through their successful blog, The Marginal Revolution. They bring this expertise to their Modern Principles titles where they emphasise the power of incentives, in...

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Preface

CHAPTER 1 The Big Ideas

CHAPTER 2 The Power of Trade and Comparative Advantage

PART 1: Supply and Demand

CHAPTER 3 Supply and Demand

CHAPTER 4 Equilibrium

CHAPTER 5 Elasticity and Its Applications

CHAPTER 6 Taxes and Subsidies

PART 2: The Price System

CHAPTER 7 The Price System: Signals, Speculation, and Prediction

CHAPTER 8 Price Ceilings and Floors

CHAPTER 9 International Trade

CHAPTER 10 Externalities: When the Price Is Not Right

PART 3: Firms and Factor Markets

CHAPTER 11 Costs and Profit Maximization Under Competition

CHAPTER 12 Competition and the Invisible Hand

CHAPTER 13 Monopoly

CHAPTER 14 Price Discrimination and Pricing Strategy

CHAPTER 15 Oligopoly and Game Theory

CHAPTER 16 Networks, Platforms, and the Economics of “ Free Goods”

CHAPTER 17 Monopolistic Competition and Advertising

CHAPTER 18 Labor Markets

PART 4: Government

CHAPTER 19 Public Goods and the Tragedy of the Commons

CHAPTER 20 Political Economy and Public Choice

CHAPTER 21 Economics, Ethics, and Public Policy

PART 5: Decision Making for Businesses,Investors, and Consumers

CHAPTER 22 Managing Incentives

CHAPTER 23 Stock Markets and Personal Finance

CHAPTER 24 Asymmetric Information: Moral Hazard and Adverse Selection

CHAPTER 25 Consumer Choice

APPENDIX A Reading Graphs and Making Graphs

APPENDIX B Solutions to Check Yourself Questions B-1

Glossary G-1

References R-1

Index I-1

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