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Microeconomics, 9th edition

Published by Pearson (January 20, 2022) © 2023

  • Jeffrey M. Perloff University of California-Berkeley

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For courses in intermediate microeconomics.

Using microeconomics to analyze and resolve real-world policy and business problems

Microeconomics presents economic theory in the context of real, data-driven examples, and then develops students' intuition through Solved Problems. The text places emphasis on modern theories that are useful in analyzing actual markets, while a step-by-step problem-based learning approach demonstrates how to use these theories to solve business problems and analyze policy.

The 9th Edition has been substantially updated with new or revised examples, applications and problems so students can see how real-world decisions are being made in today's firms and policy debates.

Hallmark features of this title

Applications help students review and apply concepts

  • Balanced coverage of both traditional theories (consumer theory, theory of the firm, and perfect competition) and modern theories (game theory, strategies, uncertainty, and moral hazard) is presented.
  • A 5 Cross-Chapter Analysis creates crucial links between core theories covered in separate chapters. It combines Applications with Solved Problems to give students hands-on practice to sharpen their analytical and quantitative skills.
  • What-If Policy Analysis. 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, pollution controls and more.

New and updated features of this title

Coverage of the latest economic events keeps students in the know

  • NEW and UPDATED: Every chapter has been extensively rewritten to make it easier to read and contains new and updated material. Topics include government policies, international climate agreements, income tax and more.
  • UPDATED: Real-World Examples use real people, companies, and data to illustrate microeconomic theory.

Applications helps students review and apply concepts

  • NEW and UPDATED: 142 Challenges present information and a series of questions about important, current real-world issues.
  • NEW and REVISED: Solved Problems provide students with a step-by-step model for working out qualitative and quantitative problems.

Hands-on practice lets students check their understanding

  • NEW and UPDATED: End-of-Chapter Questions draw from real-life events and issues from newspapers, journal articles and other sources.
  • NEW: This edition contains 5 new features: Common Confusion, Thinking Critically About a Current Event, Interactive Figures, Spreadsheet Exercises, and Review Questions.

Features of MyLab Economics for the 9th Edition

  • Excel Grader files are now available within MyLab and promote using Excel to analyze economic choices.
  • Chapter R Review Questions consist of a rich array of assignable and auto-graded exercises covering fundamental math concepts. They aim to increase student confidence and success.
  • Animated graphs accompany key graphs and figures. They help students grasp concepts such as shifts in curves, movements along curves and changes in equilibrium values.
  • Every week, news stories and accompanying exercises are posted to MyLab. Assignable and auto-graded, these multi-part exercises ask students to recognize and apply economic concepts to current events.
  • Experiments are an easy-to-use, fun, and engaging way to promote active learning and mastery of important economic concepts.
  • Digital Interactives are dynamic, engaging assessment activities that promote critical thinking and the application of key economic principles.

Features of Pearson eText for the 9th Edition

  • NEW: Review questions are now embedded throughout the eText. They provide students with multiple opportunities to practice and an easy way to check their comprehension.
  • NEW: Many graphs have become Social Explorer interactive presentations. These presentations allow students to see the impact of different variables across economics.
  1. Introduction
  2. Supply and Demand
  3. Applying the Supply-and-Demand Model
  4. Consumer Choice
  5. Applying Consumer Theory
  6. Firms and Production
  7. Costs
  8. Competitive Firms and Markets
  9. Applying the Competitive Model
  10. General Equilibrium and Economic Welfare
  11. Monopoly
  12. Pricing and Advertising
  13. Oligopoly and Monopolistic Competition
  14. Game Theory
  15. Factor Markets
  16. Interest Rates, Investments, and Capital Markets
  17. Uncertainty
  18. Externalities, Open-Access, and Public Goods
  19. Asymmetric Information
  20. Contracts and Moral Hazards

APPENDICES

  • 2A. Regressions
  • 3A. Effects of a Specific Tax on Equilibrium
  • 4A. Utility and Indifference Curves
  • 4B. Maximizing Utility
  • 5A. The Slutsky Equation
  • 5B. Labor-Leisure Model
  • 6A. Properties of Marginal and Average Product Curves
  • 6B. The Slope of an Isoquant
  • 6C. Cobb-Douglas Production Function
  • 7A. Minimum of the Average Cost Curve
  • 7B. Japanese Beer Manufacturer's Short-Run Cost Curves
  • 7C. Minimizing Cost
  • 8A. The Elasticity of the Residual Demand Curve
  • 8B. Profit Maximization
  • 9A. Demand Elasticities and Surplus
  • 11A. Relationship Between a Linear Demand Curve and Its Marginal Revenue Curve
  • 11B. Incidence of a Specific Tax on a Monopoly
  • 12A. Perfect Price Discrimination
  • 12B. Group Price Discrimination
  • 12C. Block Pricing
  • 12D. Two-Part Pricing
  • 12E. Profit-Maximizing Advertising and Production
  • 13A. Nash-Cournot Equilibrium
  • 13B. Nash-Stackelberg Equilibrium
  • 13C. Nash-Bertrand Equilibrium
  • 15A. Factor Demands
  • 15B. Monopsony
  • 16A. The Present Value of Payments over Time
  • 18A. Welfare Effects of Pollution in a Competitive Market
  • 20A. Nonshirking Condition

Answers to Selected Questions and Problems

About our author

Jeffrey M. Perloff is a professor in the Department of Agricultural and Resource Economics at the University of California at Berkeley. His economic research covers industrial organization, marketing, labor, trade and econometrics. His textbooks are Modern Industrial Organization (with Dennis Carlton), Microeconomics, Microeconomics: Theory and Applications with Calculus, Estimating Market Power and Strategies (with Larry Karp and Amos Golan), and Managerial Economics and Strategy (with James Brander). He has been an editor of Industrial Relations and the Journal of Industrial Organization Education, and an associate editor of the American Journal of Agricultural Economics and the Journal of Productivity Analysis. He has consulted with nonprofit organizations and government agencies (including the Federal Trade Commission and the Departments of Commerce, Justice, and Agriculture) on topics ranging from a case of alleged Japanese television dumping to the evaluation of social programs. He has also conducted research in psychology. He is a fellow of the American Agricultural Economics Association. He received his BA in economics from the University of Chicago in 1972 and his PhD in economics from the Massachusetts Institute of Technology in 1976. He was previously an assistant professor in the Department of Economics at the University of Pennsylvania.

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