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Economics is global and The Eighth Edition of MICROECONOMICS maintains the hallmarks of the Boyes/Melvin series--accessible writing, strong pedagogy, and integration of global economic issues--while faithfully presenting the latest thinking of economists on important microeconomic phenomena. The authors have carefully integrated their popular pedagogy, cutting-edge teaching and learning technology, and a full range of supplements to create a complete program that clearly illustrates the connections between key microeconomic principles and real-world business practices. The text has also been thoroughly updated with recent data and extensive coverage of important current issues, such as the economic effects of the war in Iraq, the 2008 financial crisis, and China's emergence as an economic power. In addition, MICROECONOMICS, Eighth Edition, provides an in-depth exploration of one of today's most significant issues--globalization--and its impact on economic growth and poverty, including a comparison of international standards of living and Global Business Insight features that illustrate microeconomic concepts with examples from around the world.
Table of Contents
Introduction to the Price System
Economics: the World Around You. 1A
Appendix: Working with Graphs
Choice, Opportunity Costs, and Specialization
Markets, Demand and Supply, and the Price System
The Market System and the Private and Public Sectors
Product Market Basics
Elasticity: Demand and Supply. 5A
Appendix: Calculating Elasticity
Consumer Choice. 6A
Appendix: Indifference Analysis
Supply: the Costs of Doing Business. 7A
Appendix: the Mechanics of Going from Production to Costs
Monopolistic Competition and Oligopoly
Antitrust and Regulation
Government and Market Failure
The Labor Market
The Land Market and Natural Resources
Current Issues Involving the Public Sector and the Market Economy
Aging, Social Security, and Health Care
Income Distribution, Poverty, and Government Policy
Issues in International Trade and Finance
World Trade Equilibrium
International Trade Restrictions
Exchange Rates and Financial Links Between Countries
Table of Contents provided by Publisher. All Rights Reserved.