Description

Overview:

This book is an adaptation of Principles of Microeconomics originally published by OpenStax. This adapted version has been reorganized into eight topics and expanded to include over 200 multiple choice questions, examples, eight case studies including questions and solutions, and over 200 editable figures.

Topic 1: Introductory Concepts and Models
Introduction to Microeconomics
1.1 What Is Economics, and Why Is It Important?
1.2 Opportunity Costs & Sunk Costs
1.3 Marginal Analysis
Case Study - Beer or Cancer?
Solutions: Case Study - Beer or Cancer?
Topic 1 Multiple Choice Questions
Topic 1 Solutions
Topic 1 References
Topic 2: Specialization and Trade
Introduction to Specialization & Trade
2.1 Economic Efficiency
2.2 Production Possibility Frontier
2.3 Trade
Case Study - Brexit
Solutions: Case Study - Brexit
Topic 2 Multiple Choice Questions
Topic 2 Solutions
Topic 2 References
Topic 3: Supply, Demand, and Equilibrium
Introduction to Supply and Demand
3.1 The Competitive Market Model
3.2 Building Demand and Consumer Surplus
3.3 Other Determinants of Demand
3.4 Building Supply and Producer Surplus
3.5 Other Determinants of Supply
3.6 Equilibrium and Market Surplus
Case Study - The Housing Market
Solutions: Case Study - The Housing Market
Topic 3 Multiple Choice Questions
Topic 3 Solutions
Topic 3 References
Topic 4 Part 1: Elasticity
4.1 Calculating Elasticity
4.2 Elasticity and Revenue
4.3 Relative Elasticity
Topic 4 Part 2: Applications of Supply and Demand
4.4 Introduction to Government Policy
4.5 Price Controls
4.6 Quantity Controls
4.7 Taxes and Subsidies
4.8 Elasticity and Policy
4.9 Tariffs
Case Study - Automation in Fast Food
Solutions: Case Study - Automation in Fast Food
Topic 4 Multiple Choice Questions
Topic 4 Solutions
Topic 4 References
Topic 5: Externalities
Introduction to Environmental Protection and Negative Externalities
5.1 Externalities
5.2 Indirectly Correcting Externalities
5.3 Directly Targeting Pollution
Case Study - Sulpher Dioxide
Solutions: Case Study - Sulpher Dioxide
Topic 5 Solutions
Topic 5 References
Topic 6: Consumer Theory
Introduction to Consumer Choices
6.1 The Budget Line
6.2 The Indifference Curve
6.3 Understanding Consumer Theory
6.4 Building Demand
Case Study - The Liberal Gas Tax
Solutions: Case Study - The Liberal Gas Tax
Topic 6 Solutions
Topic 6 References
Topic 7: Producer Theory
Introduction to Cost and Industry Structure
7.1 Building Producer Theory
7.2 Understanding Producer Theory
7.3 Producer Theory in the Long Run
7.4 The Structure of Costs in the Long Run
Case Study - Oil Markets
Solution: Case Study - Oil Markets
Topic 7 Solutions
Topic 7 References
Topic 8: Imperfect Competition
Introduction to Imperfect Competition
8.1 Monopoly
8.2 Fixing Monopoly
8.3 Why Monopolies Persist
8.4 Monopolistic Competition
Case Study - Diamond's Demise
Solutions: Diamond's Demise
Topic 8 Solutions
Topic 8 References
Appendix C: Versioning History

Subject:

Economics

Material Type:

Textbook

Author:

Emma Hutchinson

Date Added:

05/10/2020