Microeconomics, 11th Edition

For the principle of microeconomics course. This book is also suitable for all readers interested in economics.

Thoroughly updated, stripped of technical detail where possible, extensively illustrated with well-chosen photographs, enlivened with new applications features that focus on issues at play in today’s world, responsive to the suggestions of reviewers and users, and seamlessly integrated with MyEconLab: These are the hallmarks of this eleventh edition of Microeconomics.

Parkin brings critical issues to the forefront. Each chapter begins with one of today’s key issues, and additional issues appear throughout the chapter to show the real-world applications of the theory being discussed. When the chapter concludes, readers “read between the lines” 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. Readers will begin to think about issues the way real economists do and learn how to explore difficult policy problems and make more informed decisions in their own economic lives.

Parkin is so committed to currency that he uploads news articles almost daily to MyEconLab®, the online assessment and tutorial system that accompanies the text. Assessment questions based on the Economics in the News articles are uploaded periodically so that instructors can assign recent articles within MyEconLab. Note: If you are purchasing the standalone text or electronic version, MyEconLab does not come automatically packaged with the text. To purchase MyEconLab, please visit: www.myeconlab.com or you can purchase a package of the physical text + MyEconLab by searching the Pearson web site.¿ MyEconLab is not a self-paced technology and should only be purchased when required by an instructor.

Table of Contents

Part One: Introduction
Chapter 1 What Is Economics?
Chapter 2 The Economic Problem
Part One Wrap-Up: Understanding The Scope Of Economics Your Economic Revolution

Part Two: How Markets Work
Chapter 3 Demand And Supply
Chapter 4 Elasticity
Chapter 5 Efficiency And Equity
Chapter 6 Government Actions In Markets
Chapter 7 Global Markets In Action
Part Two Wrap-Up: Understanding How Markets Work: The Amazing Market

Part Three: Households’ Choices
Chapter 8 Utility And Demand
Chapter 9 Possibilities, Preferences, And Choices
Part Three Wrap-Up: Understanding Households’ Choices: Making The Most Of Life

Part Four: Firms And Markets
Chapter 10 Organizing Production
Chapter 11 Output And Costs
Chapter 12 Perfect Competition
Chapter 13 Monopoly
Chapter 14 Monopolistic Competition
Chapter 15 Oligopoly
Part Four Wrap-Up: Understanding Firms And Markets: Managing Change And Limiting Market Power

Part Five: Market Failure And Government
Chapter 16 Public Choices And Public Goods
Chapter 17 Externalities And The Environment
Part Five Wrap-Up: Understanding Market Failure And Government: We, The People, …

Part Six: Factor Markets, Inequality, And Uncertainty
Chapter 18 Markets For Factors Of Production
Chapter 19 Economic Inequality
Chapter 20 Uncertainty And Information
Part Six Wrap-Up: Understanding Factor Markets, Inequality, And Uncertainty For Whom?