Principles of Microeconomics, Global Edition, 14th edition

Published by Pearson (May 31, 2025) © 2025

  • Karl E. Case Wellesley College
  • Ray C. Fair Yale University
  • Sharon E. Oster Yale University
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Title overview

All-time best-selling Principles of Microeconomics is trusted for its clear, thorough and complete coverage of how market economies function. Built on comprehensive microeconomics models, it balances economic theory, institutional material and real-world examples, with emphasis on the art and science of economic thinking.

The 14th Edition features streamlined chapters and many revised end-of-chapter problems. It adds 20 new Economics in Practice boxes with recent research and analysis, such as the impact of the COVID-19 pandemic on supply chains. In MyLab, new assignable Economics in Practice videos featuring Emily Oster make economics relevant and relatable, while equipping you for success.

Table of contents

PART 1: INTRODUCTION TO ECONOMICS

  1. The Scope and Method of Economics
  2. The Economic Problem: Scarcity and Choice
  3. Demand, Supply, and Market Equilibrium
  4. Demand and Supply Applications
  5. Elasticity

PART 2: THE MARKET SYSTEM

  1. Household Behavior and Consumer Choice
  2. The Production Process: The Behavior of Profit-Maximizing Firms
  3. Short-Run Costs and Output Decisions
  4. Long-Run Costs and Output Decisions
  5. Input Demand: The Labor and Land Markets
  6. Input Demand: The Capital Market and the Investment Decision
  7. General Equilibrium and the Efficiency of Perfect Competition

PART 3: MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT

  1. Monopoly and Antitrust Policy
  2. Oligopoly
  3. Monopolistic Competition
  4. Externalities, Public Goods, and Common Resources
  5. Uncertainty and Asymmetric Information
  6. Income Distribution and Poverty
  7. Public Finance: The Economics of Taxation

PART 4: THE WORLD ECONOMY

  1. International Trade, Comparative Advantage, and Protectionism
  2. Economic Growth in Developing Economies

PART 5: METHODOLOGY

  1. Critical Thinking about Research

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