Principles and Applications of Microeconomics

Because issues of policy and real applications are critical to the principles of economics course, acclaimed economists Hall and Lieberman have made the fourth edition of MICROECONOMICS: PRINCIPLES AND APPLICATIONS as current as today's headlines, giving students a real-world, up-to-the-minute overview that presents economics as a unified discipline.

Taking a no-nonsense, policy approach to economic theory and application, this comprehensive text is very accessible, equipping readers with a solid foundation in economics that they can build upon wherever their career paths may lead. A wealth of interactive online exercises, graphing applications, and research opportunities give students hands-on experience working with current economic issues. Hall and Lieberman's careful focus on core theoretical ideas and systematic application of theoretical tools to timely, practical questions conveys the message that economics is an integrated, powerful body of knowledge that can effectively address domestic and global issues.

Table of Contents

Part I: PRELIMINARIES.

1. What Is Economics?

2. Scarcity, Choice, and Economic Systems.

Part II: MARKETS AND PRICES.

3. Supply and Demand.

4. Working with Supply and Demand.

5. Elasticity.

Part III: MICROECONOMIC DECISION MAKERS.

6. Consumer Choice.

7. Production and Cost.

8. How Firms Make Decisions: Profit Maximization.

Part IV: PRODUCT MARKETS.

9. Perfect Competition.

10. Monopoly.

11. Monopolistic Competition and Oligopoly.

Part V: LABOR, CAPITAL, AND FINANCIAL MARKETS.

12. Labor Markets.

13. Capital and Financial Markets.

Part VI: EFFICIENCY, GOVERNMENT, AND THE GLOBAL ECONOMY.

14. Economic Efficiency and the Competitive Ideal.

15. Government's Role in Economic Efficiency.

16. Comparative Advantage and the Gains from International Trade.

490 pages , Paperback

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PRINCIPLES AND APPLICATIONS OF MICROECONOMICS

LIEBERMAN M. HALL R.