Microeconomics, Global Edition, 5th edition

Published by Pearson (March 16, 2015) © 2015

  • Glenn Hubbard Columbia University
  • Anthony Patrick O'Brien
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Title overview

For Principles of Microeconomics courses at two- and four-year colleges and universities

Reveal the relevance of economics through real-world business examples

One of the challenges of teaching Principles of Microeconomics is fostering interest in concepts that may not seem applicable to students’ lives. Microeconomics, Fifth Edition makes economics relevant by demonstrating how real businesses use economics to make decisions every day. Regardless of their future career path—opening an art studio, trading on Wall Street, or bartending at the local pub—students will benefit from understanding the economic forces behind their work.

Table of contents

I. Introduction

  1. 1. Economics: Foundations and Models
  2. 2. Trade-offs, Comparative Advantage, and the Market System
  3. 3. Where Prices Come From: The Interaction of Demand and Supply
  4. 4. Economic Efficiency, Government Price Setting, and Taxes

II. Markets in Action

  1. 5. Externalities, Environmental Policy, and Public Goods
  2. 6. Elasticity: The Responsiveness of Demand and Supply
  3. 7. The Economics of Health Care

III. Firms in the Domestic and International Economies

  1. 8. Firms, the Stock Market, and Corporate Governance
  2. 9. Comparative Advantage and the Gains from International Trade

IV. Microeconomic Foundations: Consumers and Firms

  1. 10. Consumer Choice and Behavioral Economics
  2. 11. Technology, Production, and Costs

Market Structure and Firm Strategy

  1. 12. Firms in Perfectly Competitive Markets
  2. 13. Monopolistic Competition: The Competitive Model in a More Realistic Setting
  3. 14. Oligopoly: Firms in Less Competitive Markets
  4. 15. Monopoly and Antitrust Policy
  5. 16. Pricing Strategy

VI. Labor Markets, Public Choice, and the Distribution of Income

  1. 17. The Markets for Labor and Other Factors of Production
  2. 18. Public Choice, Taxes, and the Distribution of Income

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