Principles of Microeconomics

Teaches microeconomic concepts and theories in a concise, clear manner. The book provides insight into the behaviour of three important economic agents – individuals, firms, and governments – and discusses the interactions between these agents in a market economy. It explores how this behaviour is manifested across a wide variety of countries.

Principles of Microeconomics teaches microeconomic concepts and theories in a concise, clear manner. It provides insight into the behavior of three important economic agents – individuals, firms, and governments – and discusses the interactions between these agents in a market economy. It explores how this behavior is manifested across a wide variety of countries and cultures including the United States, Europe, Asia, and the Middle East. Students will master economic models, supply and demand theory, markets in action, and market structures through real-world applications. Principles of Microeconomics makes topics and concepts accessible and relevant through the use of high-interest examples such as the economics of superstars, the Arab Spring, Scotland independence vote, rising inequality, minimum wage, decline in entrepreneurial activity, oil cartel, and marijuana legalization. Suitable for majors and non-majors, Principles of Microeconomics is written for introductory, lower division courses.