Principles of Microeconomics: A Simplified Approach
Edition: 1
Copyright: 2024
Pages: 152
Edition: 1
Copyright: 2024
Pages: 152
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The textbook Principles of Microeconomics: A Simplified Approach introduces pre-college and university students, who are in the first years of their studies, to the fundamental concepts and principles of Microeconomics. The text is focused on five modules, looking at choice, the scarcity problem, opportunity cost, production possibilities frontier and specialization (Module 1); demand, supply and equilibrium, and price elasticity of demand and supply (Module 2); production, cost, and revenue (Module 3); perfect competition, in the short and long run, and imperfect market structures (Module 4); and market failures, as well as government action to address them (Module 5).
MODULE 1 – Scarcity, Choice, and Production Possibilities
Chapter 1 – What is Microeconomics?
Chapter 2 - Scarcity, Choice, and Production Possibilities
MODULE 2 – Demand, Supply, Equilibrium, and Elasticity
Chapter 3 – Demand, Supply and Equilibrium
Chapter 4 – Elasticity and Consumer Behavior
Chapter 5 – Resource Markets
MODULE 3 – Production, Cost, and Revenue
Chapter 6 – Production and Cost
Chapter 7 – Revenue and Profit
MODULE 4 – Market Structures
Chapter 8 – Perfect Competition
Chapter 9 – Imperfect Competition
MODULE 5 – Market Failures and Government Action
Chapter 10 – Externalities, Monopolies, Oligopolies, and Asymmetric Information
Chapter 11 – Public and Private Goods, Public Production and Public Provision
Chapter 12 – Government Policy
Full Professor of Economics at Winston-Salem State University, North Carolina, USA
Full Professor of Economics at Winston-Salem State University, North Carolina, USA