9781464139048

Adapted by Paul Krugman and Robin Wells from their bestselling microeconomics textbook, Microeconomics in Modules is the only text for the principles of microeconomics course organized in the supremely accessible, highly effective modular format. Instead of chapters of standard length, the book covers the fundamentals of microeconomics in 45 brief (4-10 page) modules divided into 14 sections.

Microeconomics in Modules offers the best of what makes Krugman/Wells a classroom favorite (story-telling approach, engaging writing, fascinating examples and cases), in a format students and instructors will love. Extensive educational research shows that students absorb more from shorter reading assignments than longer ones. And with coverage in self-contained modules, instructors can assign specific topics without asking students to read entire chapters.

Section 1 Basic Economic Concepts
Module 1 The Study of Economics
Module 2 Models and the Circular Flow
Module 3 The Production Possibility Frontier Model
Module 4 Comparative Advantage and Trade

Section 2 Supply and Demand
Module 5 Demand
Module 6 Supply and Equilibrium
Module 7 Changes in Equilibrium

Section 3 Elasticity and the Law of Demand
Module 8 Income Effects, Substitution Effects, and Elasticity
Module 9 Interpreting Price Elasticity of Demand
Module 10 Other Elasticities

Section 4 Market Efficiency
Module 11 Consumer and Producer Surplus
Module 12 Efficiency and Markets

Section 5 Government Policy and Taxes
Module 13 Price Controls (Ceilings and Floors)
Module 14 Quantity Controls (Quotas)
Module 15 Taxes

Section 6 International Trade
Module 16 Gains from Trade
Module 17 Supply, Demand, and Trade

Section 7 Economics and Decision Making
Module 18 Making Decisions
Module 19 Behavioral Economics
Module 20 Maximizing Utility

Section 8 Production and Costs
Module 21 The Production Function
Module 22 Firm Costs
Module 23 Long-Run Costs and Economies of Scale

Section 9 Market Structure and Perfect Competition
Module 24 Market Structure
Module 25 Perfect Competition
Module 26 Graphing Perfect Competition
Module 27 Long-Run Outcomes in Perfect Competition

Section 10 Monopoly
Module 28 Monopoly in Practice
Module 29 Monopoly and Public Policy
Module 30 Price Discrimination

Section 11 Imperfect Competition
Module 31 Oligopoly
Module 32 Game Theory
Module 33 Oligopoly in Practice
Module 34 Monopolistic Competition
Module 35 Product Differentiation and Advertising

Section 12 Market Failure and the Role of Government
Module 36 Externalities
Module 37 Externalities and Public Policy
Module 38 Public Goods and Common Resources
Module 39 The Economics of the Welfare State

Section 13 Factor Markets and the Distribution of Income
Module 40 Factor Markets
Module 41 Marginal Productivity Theory
Module 42 The Market for Labor

Section 14 Additional Topics in Microeconomics
Module 43 The Cost-Minimizing Input Combination
Module 44 The Time Value of Money
Module 45 The Economics of Information

Appendix Graphs in Economics
Solutions to Module Review
Questions
Glossary
Index

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Microeconomics in Modules

Microeconomics in Modules

1464139040

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