Microeconomics
Microeconomics has become a market leader because Perloff presents theory in the context of real, data-driven examples, and then develops intuition through his hallmark Solved Problems. Students gain a practical perspective, seeing how models connect to real-world decisions being made in today's firms and policy debates. The Seventh Edition is substantially updated and modified based on the extremely helpful suggestions of faculty and students who used the first six editions. Every chapter is thoroughly revised and includes new or updated examples and applications.
Table of Content
1. Introduction
2. Supply and Demand
3. Applying the Supply-and-Demand Model
4. Consumer Choice
5. Applying Consumer Theory
6. Firms and Production
7. Costs
8. Competitive Firms sand Markets
9. Applying the Competitive Model
10. General Equilibrium and Economic Welfare
11. Monopoly
12. Pricing and Advertising
13. Oligopoly and Monopolistic Competition
14. Game Theory
15. Factor Markets
16. Interest rates, Investments, and Capital Markets
17. Uncertainty
18. Externalities, Open-Access, and Public Goods
19. Asymmetric Information
20. Contracts and Moral Hazards
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Salient Features
NEW! Challenges
: Each chapter begins with a Challenge that presents information about an important, current real-world issue and concludes with a series of questions about that material. At the end of the chapter, a Challenge Solution answers these questions using methods presented in that chapter. All the Challenges and almost all the examples and Applications throughout the book are updated or new.
NEW! Solved Problems:
In each chapter, Solved Problems provide students with a step-by-step model for working out both qualitative and quantitative problems. Solved Problems in this edition to 106 from 94 in the previous edition. In addition, many other Solved Problems are new or substantially updated and revised. Starting in this edition, every Solved Problem has at least one associated Question at the end of the chapter
NEW! End-of-chapter Questions:
The end-of-chapter questions are arranged by subject headings, and many new and updated questions are added.
Balanced Coverage of both Traditional and Modern Theories:
Core microeconomic theories consumer theory, theory of the firm, and perfect competition are covered thoroughly in the first half of the book, followed by a fully up-to-date, authoritative treatment of modern theories such as game theory,strategies, uncertainty, and moral hazard.
Real-world Examples and Applications:
Hundreds of examples and applications use real people, real companies, and real data to illustrate microeconomic theory. Providing valuable practical perspective, abundant examples and applications showcase the versatility of modern microeconomics.
Cross-Chapter Analyses:
Five Cross-Chapter Analyses throughout the text create crucial links between core theories covered in separate chapters, combining Applications with Solved Problems to give students hands-on practice designed to sharpen their analytical and quantitative skills.
What-if Policy Analysis:
Economic models are used to probe the likely outcomes of changes in public policies such as taxes, subsidies, barriers to entry, price floors and ceilings, quotas and tariffs, zoning, laws limiting diversification, pollution controls, licensing laws, and laws governing pensions.
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