Microeconomics, Global Edition

For 1-semester principles of microeconomics courses.

Microeconomics gets students to think like economists by incorporating the latest policy, data and discussions on important global issues.

The 14th Edition emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. Hallmark features in the chapter openings and endings encourage students to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to, and deeper understanding of, today' s events.

• Economics in Action and Economics in the News boxes have students link models and chapter tools to the economic world around them.
• Interviews with Economists feature leading economists from diverse backgrounds who share what inspired them to pursue a career in economics.

• Worked Problems, consisting of questions, solutions and key figures, help students to learn-by-doing and actively, rather than passively, review the chapter content.
• In-text Review Quizzes reinforce major concepts and test students' knowledge of the topics just discussed.

• NEW: Chapter 1, " Getting Started" , has a new section on a diversity challenge: the under-representation of women and minorities in economics.
• NEW: 6 chapters examine COVID-19, including its effects on the production possibilities frontier (Ch. 2) and on the hand sanitizer market (Ch. 3), the elasticity of supply of face masks (Ch. 4), movie streaming in the pandemic (Ch. 8), the competitive market in fitness equipment and services (Ch. 12), and the increased inequality arising from Covid' s labor market effects (Ch. 19).
• NEW: Other notable discussions and examples include a push for a $15 minimum wage (Ch. 6); an updated discussion of the work of the World Trade Organization and its new Director General, Ngozi OkonjoIweala and the US-China trade war (Ch. 7); an analysis of the effects of a tax on sugary drinks (Ch. 9); a look at Amazon' s distribution center decisions (Ch. 11), product differentiation in streaming services (Ch. 14); an analysis of carbon pricing to lower emissions (Ch. 17); and more.

Microeconomics gets you to think like an economist by incorporating the latest policy, data and discussions on important global issues.

The 14th Edition emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. Hallmark features in the chapter openings and endings encourage you to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to, and deeper understanding of, today' s events.

This print textbook is available for students to rent for their classes. The Pearson print rental program provides students with affordable access to learning materials, so they come to class ready to succeed.

1. What is Economics?
2. The Economic Problem

1. Demand and Supply
2. Elasticity
3. Efficiency And Equity
4. Government Actions in Markets
5. Global Markets in Action

1. Utility and Demand
2. Possibilities, Preferences, and Choices

1. Organizing Production
2. Output and Costs
3. Perfect Competition
4. Monopoly
5. Monopolistic Competition
6. Oligopoly

1. Public Choices, Public Goods, and Healthcare
2. Externalities

1. Markets for Factors of Production
2. Economic Inequality
3. Uncertainty and Information

1. Monitoring the Value of Production: GDP
2. Monitoring Jobs and Inflation

1. Economic Growth
2. Finance, Saving, and Investment
3. Money, the Price Level, and Inflation
4. The Exchange Rate and the Balance of Payments

1. Aggregate Supply and Aggregate Demand
2. Expenditure Multipliers
3. The Business Cycle, Inflation, and Deflation

1. Fiscal Policy
2. Monetary Policy