Principles of Microeconomics

ISBN-10: 0538453532

ISBN-13: 9780538453530

Edition: 7th 2011

Authors: John Taylor, Akila Weerapana

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This clearly written book offers concise, yet thorough coverage of current economic theories. Refreshing examples, engaging applications, and streamlined content simplify even the most advanced topics. MICROECONOMICS, 7th EDITION emphasizes the central idea of economics using real-world examples of how markets work, why markets are efficient when the incentives are right, and why they are inefficient when the incentives are wrong. Author, John B. Taylor, the former Undersecretary of the Treasury for International Affairs, provides unique insights into today's issues. This edition addresses the global financial challenges currently being faced, and recovery from these economic challenges. Updated graphs, figures, and popular learning features present the latest issues and data, including coverage of the Obama Administration Online learning tools, such as Aplia, the leading homework solution, is available as part of a complete supplement package to further ensure your understanding of economic developments as they happen.
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Book details

List price: $239.95
Edition: 7th
Copyright year: 2011
Publisher: Cengage South-Western
Publication date: 10/12/2011
Binding: Paperback
Pages: 528
Size: 8.50" wide x 10.00" long x 0.75" tall
Weight: 2.376
Language: English

John Taylor, a journalist for more than two decades, has been a contributing editor at New York magazine and a senior writer for Esquire. He lives in East Moriches, New York.

Akila Weerapana is an Associate Professor of Economics at Wellesley College. He was born and raised in Sri Lanka and came to the United States to do his undergraduate work at Oberlin College, where he earned a B.A. with highest honors in Economics and Computer Science in 1994. Inspired by his professors at Oberlin, he went on to graduate school at Stanford University. He received his Ph.D. in Economics from Stanford in 1999, writing his dissertation in monetary economics under the mentorship of John Taylor. Having taught several classes at Stanford while he was a graduate student, Akila was determined to pursue a career as a liberal arts college professor, combining his research interests with the opportunity to teach economics to gifted college students. Since 1999, Akila has taught over 800 students at the Economics Department at Wellesley College.His teaching interests span all levels of the Department's curriculum, including introductory and intermediate macroeconomics, international finance, monetary economics and mathematical economics. He was awarded Wellesley's Pinanski Prize for Excellence in Teaching in 2002. He also enjoys working with thesis students, having advised over a dozen thesis students at Wellesley. The projects that students work on range from a study of the economic benefits of eradication of river blindness in Ghana to the impact of joining the European Union on the Spanish economy to a project analyzing the determinants of enterprise performance in Russia. He has advised many students who have pursued graduate study in economics or have gone on to work in economic research at the Federal Reserve.In addition to teaching, Akila has research interests in macroeconomics, specifically in the areas of monetary economics, international finance and political economy. In the area of monetary economics, his work focuses on the international dimension of monetary policy, including the potential for gains from coordination and the importance o

Introduction to Economics
The Central Idea
Observing and Explaining the Economy
Appendix to Chapter 2 Reading, Understanding, and Creating Graphs
The Supply and Demand Model
Subtleties of the Supply and Demand Model: Price Floors, Price Ceilings and Elasticity
Principles of Microeconomics
The Demand Curve and the Behavior of Consumers
Appendix to lChapter 5 Consumer Theory with Indifference Curves
The Supply Curve and the Behavior of Firms
The Interaction of People in Markets
The Economics of the Firm
Costs and the Changes at Firms Over Time
Appendix to Chapter 8 Producer Theory with Isoquants
The Rise and Fall of Industries
Product Differentiation, Monopolistic Competition, and Oligopoly
Antitrust Policy and Regulation
Labor Markets
Taxes, Transfers and Income Distribution
Public Goods, Externalities and Government Behavior
Capital and Financial Markets
Appendix to Chapter 16 Present Discounted Value
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