Microeconomics, Global Edition (9^th Ed.)

For Intermediate Microeconomics courses.

Microeconomics exposes students to topics that play a central role in microeconomics. From game theory and competitive strategy, to the roles of uncertainty and information, and the analysis of pricing by firms with market power, the text helps students understand what?s going on in the world of business. It also shows students how microeconomics can be used as a practical tool for decision-making and for designing and understanding public policy. The 9th Edition further illustrates microeconomics? relevance and usefulness with new coverage and examples, and an improved exposition that is clear and accessible as well as lively and engaging. With Microeconomics, readers will be able to fully appreciate how a modern economy functions.

• Part 1: INTRODUCTION: MARKETS AND PRICES
• 1. Preliminaries  
• 2. The Basics of Supply and Demand  
• Part 2: PRODUCERS, CONSUMRS, AND COMPETITIVE MARKETS
• 3. Consumer Behavior
• 4. Individual and Market Demand
• 5. Uncertainty and Consumer Behavior
• 6. Production
• 7. The Cost of Production
• 8. Profit Maximization and Competitive Supply
• 9. The Analysis of Competitive Markets
• Part 3: MARKET STRUCTURE AND COMPETITIVE STRATEGY
• 10. Market Power: Monopoly and Monopsony
• 11. Pricing with Market Power
• 12. Monopolistic Competition and Oligopoly
• 13. Game Theory and Competitive Strategy
• 14. Markets for Factor Inputs
• 15. Investment, Time, and Capital Markets
• Part 4: INFORMATION, MARKET FAILURE, AND THE ROLE OF GOVERNMENT
• 16. General Equilibrium and Economic Efficiency
• 17. Markets with Asymmetric Information
• 18. Externalities and Public Goods
• 19. Behavioral Economics
• Appendix: The Basics of Regression
• Answers to Selected Exercises

Features

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content, which is especially relevant to students outside the United States.

An applied approach to micro

· UPDATED! and NEW! Examples. This text incorporates over 100 real-world examples into the flow of the text (rather than as segregated boxed features) to highlight the application of microeconomics to real managerial and public policy decisions. New and updated examples include:

o Taxicab markets that include the entry of “ride-share” services like Uber and Lyft (Chapters 9 and 13).

o Tesla’s new battery factory (its “Gigafactory”), and how scale economies will reduce the cost of batteries for electric cars (Chapter 7).

o A merger policy (Chapter 10) and Auto Parts Cartel (Chapter 12).

o The pricing of this textbook (Chapters 1 and 12).

o Consumers’ use of credit card debt (and apparent willingness to pay extremely high interest rates), and their decisions to join and use health clubs (Chapter 19).

· Key terms are defined in margins throughout the book and in the glossary. Concept links are also included in margins to promote awareness of an idea previously introduced in the text.

Provide engaging and up-to-date content

· NEW! Chapter on behavioral economics incorporates findings from psychology into descriptions of how consumers and firms make decisions, so that students can see how real-world consumers and firms behave (Chapter 19).

· Coverage of the latest issues in microeconomics is included:

o Speculative demand and network externalities (Chapter 4).

o Bubbles and informational cascades, along with examples showing applications to housing markets and the financial c