Author(s):Michael Parkin
Publisher:Prentice Hall
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, students “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. Students 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.
I. Introduction
1. What is Economics?
2. The Economic Problem

II. How Markets Work
3. Demand and Supply
4. Elasticity
5. Efficiency and Equity
6. Government Actions in Markets
7. Global Markets in Action

III. Households’ Choices
8. Utility and Demand
9. Possibilities, Preferences, and Choices

IV. Firms and Markets
10. Organizing Production
11. Output and Costs
12. Perfect Competition
13. Monopoly
14. Monopolistic Competition
15. Oligopoly

V. Market Failure and Government
16. Public Choices and Public Goods
17. Economics of the Environment

VI. Factor Markets, Inequality, and Uncertainty
18. Markets for Factors of Production
19. Economic Inequality
20. Uncertainty and Information