Overview

Modern Principles means modern content and modern delivery and Tyler Cowen and Alex Tabarrok deliver with a knack for revealing the 'invisible hand' of economics at work and a unique combination of vivid writing, up-to-date relevant examples and unparalleled online resources, perfect for your principles of economics course. Modern Principles of Microeconomics places an emphasis on the power of incentives which underscores how economics helps us understand why we do what we do (in other words, the decisions we make in the face of incentives in the real world). These are brought to life via examples including a discussion of housing prices and the elasticity of supply, the declining labor force participation rate of young men, the platform economics of free goods like Facebook and Twitter, monetary policy in a pandemic and the politics and economics of trade in the Trump era. Modern Principles of Microeconomics is supported by Achieve, our integrated, online learning system which allows you to engage every student with powerful multimedia resources, an integrated e-Book, robust homework, and a wealth of interactives, creating an extraordinary new learning resource for students. Key features include: - 170+ Marginal Revolution University videos have been deeply integrated into the text and pedagogy, providing valuable tools for both instructors and students - Animated pre-lecture tutorials reinforce in-class learning - Access to an eBook for easy reading and searching - LearningCurve adaptive quizzing offers practice questions and feedback - Step-by-Step graphs and Discovering data activities help students develop their economic thinking

Full Product Details

Author:   Tyler Cowen ,  Alex Tabarrok
Publisher:   Macmillan Learning
Imprint:   Worth Publishers Inc.,U.S.
Edition:   1st ed. 2021
ISBN:  

9781319389345

ISBN 10:   1319389341
Publication Date:   27 September 2021
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Mixed media product
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

Preface.- CHAPTER 1 The Big Ideas.- CHAPTER 2 The Power of Trade and Comparative Advantage.- PART 1: Supply and Demand.- CHAPTER 3 Supply and Demand.- CHAPTER 4 Equilibrium.- CHAPTER 5 Elasticity and Its Applications.- CHAPTER 6 Taxes and Subsidies .- PART 2: The Price System.- CHAPTER 7 The Price System: Signals, Speculation, and Prediction.- CHAPTER 8 Price Ceilings and Floors.- CHAPTER 9 International Trade.- CHAPTER 10 Externalities: When the Price Is Not Right.- PART 3: Firms and Factor Markets.- CHAPTER 11 Costs and Profit Maximization Under Competition.- CHAPTER 12 Competition and the Invisible Hand.- CHAPTER 13 Monopoly .- CHAPTER 14 Price Discrimination and Pricing Strategy.- CHAPTER 15 Oligopoly and Game Theory.- CHAPTER 16 Networks, Platforms, and the Economics of Free Goods .- CHAPTER 17 Monopolistic Competition and Advertising.- CHAPTER 18 Labor Markets.- PART 4: Government.- CHAPTER 19 Public Goods and the Tragedy of the Commons.- CHAPTER 20 Political Economy and Public Choice.- CHAPTER 21 Economics, Ethics, and Public Policy.- PART 5: Decision Making for Businesses,Investors, and Consumers.- CHAPTER 22 Managing Incentives.- CHAPTER 23 Stock Markets and Personal Finance.- CHAPTER 24 Asymmetric Information: Moral Hazard and Adverse Selection.- CHAPTER 25 Consumer Choice.- APPENDIX A Reading Graphs and Making Graphs.- APPENDIX B Solutions to Check Yourself Questions B-1.- Glossary G-1.- References R-1.- Index I-1.

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Author Information

Tyler Cowen is Holbert C. Harris Professor of Economics at George Mason University and Director of the Mercatus Center. He is published widely in economics journals, including the American Economic Review and Journal of Political Economy. With Alex Tabarrok he co-writes the Marginal Revolution blog, often ranked as the #1 economics blog. He is also the author of numerous books on economics and he writes regularly for the popular press on economics, including for Bloomberg Opinion, The New York Times, The Washington Post, Forbes, and The Wilson Quarterly. Alex Tabarrok is Bartley J. Madden Chair in Economics at the Mercatus Center at George Mason University. Tabarrok is co-author with Tyler Cowen of the popular economics blog, Marginal Revolution. His research looks at bounty hunters, judicial incentives and elections, crime control, patent reform, methods to increase the supply of human organs for transplant, and the regulation of pharmaceuticals. He is the editor of numerous books, his papers have appeared in numerous academic journals and his popular articles have appeared in The New York Times, The Wall Street Journal, and many other magazines and newspapers.

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