Microeconomics, Global Edition, 8th edition

For courses in microeconomics

Intended as an intermediate microeconomics text, Perloff introduces economic theory through a combination of calculus, algebra, and graphs. The text integrates estimated, real-world problems and applications, using a step-by-step approach to demonstrate how microeconomic theory can be applied to solve practical problems and policy issues. Compared to other similar texts, the author also places greater emphasis on using contemporary theories - such as game theory and contract theory - to analyse markets.

Key features

• End­-of-­chapter Questions draw from real-life events and issues from newspapers, journal articles, and other sources, to test students' understanding.
• Core microeconomic theories - consumer theory, theory of the firm, and perfect competition - are covered thoroughly in the first half of the book, followed by a fully up-­to-­date, authoritative treatment of modern theories - such as game theory, strategies, uncertainty, and moral hazard.
• Hundreds of examples and applications use real people, real companies, and real data to illustrate microeconomic theory. Valuable, practical perspective, abundant examples, and applications showcase the versatility of modern microeconomics.
• 5 Cross-­chapter Analyses throughout the text create crucial links between core theories covered in separate chapters, combining Applications with Solved Problems to give students hands­-on practice designed to sharpen their analytical and quantitative skills.
• Economic models are used to probe the likely outcomes of changes in public policies such as taxes, subsidies, barriers to entry, price floors and ceilings, quotas and tariffs, zoning, laws limiting diversification, pollution controls, licensing laws, and laws governing pensions.

New to this edition

• Each chapter now begins with new challenges that present information relating to the chapter's contents about a current real-world issue. These conclude with questions about the material to engage students with the subject.
• Additional solved problems provide students with a clear step-by-step model for working out qualitative and quantitative problems - now also with at least one associated question at the end of the chapter.
• 113 new and updated applications cover recent events and replace older material, keeping this edition current and timeless.
• Many substantially rewritten chapters, such as chapters 2 and 3, have been updated to include more recent case studies and reflect the modern markets, with accompanying questions updated where appropriate.
• Updated material includes more up-to-date available information, as seen in the section on Apple in chapter 11.
• Chapter 15 now includes modified tables and figures accompanying the written text.