Principles of Microeconomics
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| Hauptverfasser: | , , |
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| Format: | Buch |
| Sprache: | English |
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Harlow, England ; London ; New York (und 19 weitere)
Pearson
2020
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| Ausgabe: | Thirteenth edition, Global Edition |
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| Online-Zugang: | Inhaltsverzeichnis |
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Datensatz im Suchindex
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| adam_text | Brief Contents PARTI Introduction to Economics 1 The Scope and Method of Economics 3 Demand, Supply, and Market Equilibrium 5 Elasticity 340 16 Externalities, Public Goods, and Common 29 Resources 2 The Economic Problem: Scarcity and Choice 4 Demand and Supply Applications 15 Monopolistic Competition 29 51 71 17 355 Uncertainty and Asymmetric Information 378 18 Income Distribution and Poverty 394 102 19 Public Finance: The Economics ofTaxation 418 120 PART IV The World Economy 440 PARTII The Market System 141 20 International Trade, Comparative Advantage, 6 Household Behavior and Consumer Choice 144 7 The Production Process: The Behavior of Profit-Maximizing Firms 21 9 Long-Run Costs and Output Decisions 216 Methodology 464 481 22 Critical Thinking about Research 240 Input Demand: The Capital Market and the Investment Decision 256 12 General Equilibrium and the Efficiency of Perfect PART III Economic Growth in Developing Economies PART V 196 10 Input Demand: The Labor and Land Markets Competition 440 173 8 Short-Run Costs and Output Decisions 11 and Protectionism Glossary Index 481 496 505 Photo Credits 523 277 Market Imperfections and the Role of Government 292 13 Monopoly and Antitrust Policy 14 Oligopoly 292 317 7
Contents ai ¡аш PART I Introduction to Economies 29 -ļ I Laissez-Faire Economies: The Free Market 6 5 Mixed Systems, Markets, and Governments 66 Looking Ahead 66 The Scope and Method of Economics 29 Summary Why Study Economics? 30 To Learn a Way of Thinking 30 ECONOMICS IN PRACTICE Rainfall and Schooling in India 31 ECONOMICS IN PRACTICE Majoring in Economics Makes You Less Vulnerable to a Recession! 32 To Understand Society 32 To Be an Informed Citizen 33 The Scope of Economics 33 Microeconomics and Macroeconomics 33 ECONOMICS IN PRACTICE How Italian Is a Ferrari? 34 The Diverse Fields of Economics 35 The Method of Economics 36 Theories and Models 36 ECONOMICS IN PRACTICE Does Your Part-Time Job Affect Your Academic Performance? 38 Economic Policy 38 An Invitation 40 Economic Skills and Economics as a Career 40 Summary Problems 2 40 41 Review Terms and Concepts 41 Appendix: How to Read and Understand Graphs 43 The Economic Problem: Scarcity and Choice 51 Scarcity, Choice, and Opportunity Cost 52 Scarcity and Choice in a One-Person Economy 52 Scarcity and Choice in an Economy of Two or More 53 ECONOMICS IN PRACTICE Frozen Foods and Opportunity Costs 54 The Production Possibility Frontier 57 The Economic Problem 63 ECONOMICS IN PRACTICE Changing Consumption Patterns in China 64 Economic Systems and the Role of Government 64 Command Economies 64 8 3 66 Review Terms and Concepts 67 Problems 67 Demand, Supply, and Market Equilibrium 71 Firms and Households: The Basic Decision-Making Units 72 Input Markets and Output Markets: The Circular Flow 72 Demand in Product/Output Markets
74 Changes in Quantity Demanded versus Changes in Demand 74 Price and Quantity Demanded: The Law of Demand 75 Other Determinants of Household Demand 78 ECONOMICS IN PRACTICE Have You Bought This Textbook? 79 ECONOMICS IN PRACTICE People Drink Tea on Rainy Days 80 Shift of Demand versus Movement along a Demand Curve 81 From Household Demand to Market Demand 82 Supply in Product/Output Markets 84 Price and Quantity Supplied: The Law of Supply 85 Other Determinants of Supply 86 Shift of Supply versus Movement along a Supply Curve 87 From Individual Supply to Market Supply 88 Market Equilibrium 89 Excess Demand 89 Excess Supply 91 Market Equilibrium with Equations 92 Changes in Equilibrium 92 ECONOMICS IN PRACTICE Quinoa 95 Demand and Supply in Product Markets: A Review 95 ECONOMICS IN PRACTICE “Shrinkflation” during Festive Seasons 96 Looking Ahead: Markets and the Allocation of Resources 97 Summary 97 Review Terms and Concepts 98 Problems 99
9 Contents 4 Demand and Supply Applications 102 ECONOMICS IN PRACTICE Brexit and EU Student Enrolment in the United Kingdom 133 What Happens When We Raise Taxes: Using Elasticity 133 Looking Ahead 135 The Price System: Rationing and Allocating Resources 103 Price Rationing 103 Constraints on the Market and Alternative Rationing Mechanisms 105 Summary ECONOMICS IN PRACTICE Why Do 1 Have to Pay More for My Food? The Truth behind the Rood Crises 107 Prices and the Allocation of Resources 109 Price Floor 109 Supply and Demand Analysis: Tariffs (Tax) 110 ECONOMICS IN PRACTICE The Price Mechanism at Wo rkforShakespeare 111 Supply and Demand and Market Efficiency 112 Consumer Surplus 112 Producer Surplus 113 Competitive Markets Maximize the Sum of Producer and Consumer Surplus 114 Potential Causes of Deadweight Loss from Under- and Overproduction 115 Looking Ahead 116 Summary 116 Review Terms and Concepts 116 Problems 117 /Г Elasticity 120 Price Elasticity of Demand 121 Slope and Elasticity 121 Types of Elasticity 122 Calculating Elasticities 123 Calculating Percentage Changes 123 Elasticity Is a Ratio of Percentages 124 The Midpoint Formula 124 Elasticity Changes along a Straight-Line Demand Curve 125 Elasticity and Total Revenue 128 The Determinants of Demand Elasticity 129 Availability of Substitutes 129 The Importance of Being Unimportant 129 Luxuries versus Necessities 129 ECONOMICS IN PRACTICE Elasticities at a Delicatessen in the Short Run and Long Run 130 The Time Dimension 130 Other Important Elasticities 131 Income Elasticity of Demand 131 Cross-Price Elasticity of
Demand 131 Elasticity of Supply 132 135 Review Terms and Concepts PART II The Market System 6 136 Problems 136 141 Household Behavior and Consumer Choice 144 Household Choice in Output Markets 145 The Determinants of Household Demand 145 The Budget Constraint 145 The Equation of the Budget Constraint 148 The Basis of Choice: Utility 149 Diminishing Marginal Utility 149 Allocating Income to Maximize Utility 150 The Utility-Maximizing Rule 152 ECONOMICS IN PRACTICE Sugar Tax in Chile 153 Diminishing Marginal Utility and Downward-Sloping Demand 153 Income and Substitution Effects 154 The Income Effect 154 The Substitution Effect 155 Household Choice in Input Markets 156 The Labor Supply Decision 156 ECONOMICS IN PRACTICE Substitution and Market Baskets 157 ThePriceofLeisure 157 Income and Substitution Effects of a Wage Change 158 ECONOMICS IN PRACTICE Part-Time Employment for Students 159 Saving and Borrowing: Present versus Future Consumption 160 A Review: Households in Output and Input Markets 161 Summary 161 Review Terms and Concepts Problems 162 Appendix: Indifference Curves 7 162 166 The Production Process: The Behavior of Profit-Maximizing Firms 173 The Behavior of Profit-Maximizing Firms 174 Profits and Economic Costs 175 Short-Run versus Long-Run Decisions 176
10 Contents The Bases of Decisions: Market Price of Outputs, Available Technology, and input Prices 177 The Production Process 178 Production Functions: Total Product, Marginal Product, and Average Product 178 Production Functions with Two Variable Factors of Production 181 182 ECONOMICS IN PRACTICE How Soon Should Preventive Maintenance Be Employed? 183 Looking Ahead: Cost and Supply 184 Summary 184 Review Terms and Concepts Problems 185 Appendix: Isoquants and Isocosts 8 185 189 Short-Run Costs and Output Decisions 196 Costs in the Short Run Fixed Costs 197 Variable Costs 199 ECONOMICS IN PRACTICE Diseconomies ofScale in Secondary School Education 225 U-Shaped Long-Run Average Costs 226 ECONOMICS IN PRACTICE The Long-Run Average Cost Curve: Flat or U-Shaped? 226 Long-Run Adjustments to Short-Run Conditions 227 Short-Run Profits: Moves In and Out of Equilibrium 227 The Long-Run Adjustment Mechanism: Investment Flows Toward Profit Opportunities 229 Output Markets: A Final Word 230 ECONOMICS IN PRACTICE Gains from Modern Management 182 Choice of Technology ECONOMICS IN PRACTICE Economies ofScale in Mobile Services 224 Constant Returns to Scale 224 Diseconomies of Scale 225 ECONOMICS IN PRACTICE Why Is Food so Expensive at an Airport? 231 Summary 231 197 Problems ECONOMICS IN PRACTICE How Much Do Phantom Tickets Cost Their Producers? 204 Looking Ahead 9 213 Problems 213 Short-Run Conditions and Long-Run Directions 217 Maximizing Profits 217 Minimizing Losses 220 The Short-Run Industry Supply Curve 220 Long-Run Directions: A Review 222 Long-Run Costs: Economies and
Diseconomies 223 241 ECONOMICS IN PRACTICE MBA or Not for the Greek Youth? 242 Long-Run Costs and Output Decisions 216 of Scale 222 Increasing Returns to Scale Appendix: External Economies and 236 Input Markets: Basic Concepts 241 Demand for Inputs: A Derived Demand Marginal Revenue Product 241 211 Review Terms and Concepts 232 Input Demand: The Labor and Land Markets 240 Total Costs 204 Short-Run Costs: A Review 206 Output Decisions: Revenues, Costs, and Profit Maximization 207 Perfect Competition 207 Total Revenue and Marginal Revenue 208 Comparing Costs and Revenues to Maximize Profit 208 The Short-Run Supply Curve 210 Summary 212 232 Diseconomies Review Terms and Concepts ECONOMICS IN PRACTICE How Much Is Flexibility Worth? 244 Labor Supply 244 Labor Markets 245 The Firm’s Labor Market Decision 245 ECONOMICS IN PRACTICE What Does Your Favorite La Liga Player Make? 246 Many Labor Markets 247 Land Markets 247 Rent and the Value of Output Produced on Land 248 ECONOMICS IN PRACTICE Land Valuation Input Demand Curves 249 Shifts in Factor Demand Curves 249 249 Profit-Maximizing Condition in Input Markets 251 Looking Ahead 251 Summary 252 Review Terms and Concepts 252 Problems 253
Contents -į -į Input Demand: The Capital I I Market and the Investment Decision 256 Forms of Imperfect Competition and Market Boundaries 293 Price and Output Decisions in Pure Monopoly Markets 294 Demand in Monopoly Markets 294 Capital and Investment 257 Capital 257 The Demand for New Capital and the Investment Decision 258 Forming Expectations 259 Comparing Costs and Expected Returns 260 The Capital Market 262 ECONOMICS IN PRACTICE Figuring Out the Right Price 295 Perfect Competition and Monopoly Compared 300 Monopoly in the Long Run: Barriers to Entry 301 ECONOMICS IN PRACTICE Saudi Arabia’s Vision 2030 263 Capital Income: Interest and Profits 264 Financial Markets in Action 265 ECONOMICS IN PRACTICE Is Being a Monopolist Always Good? 302 The Social Costs of Monopoly 304 Inefficiency and Consumer Loss 304 Rent-Seeking Behavior 306 Price Discrimination 307 Examples of Price Discrimination 308 ECONOMICS IN PRACTICE Price Discrimination at Work: The Uffizi Gallery 309 Remedies for Monopoly: Antitrust Policy 310 Major Antitrust Legislation 310 ECONOMICS IN PRACTICE What Tesla Does with Near-Monopoly Power 311 Imperfect Markets: A Review and a Look Ahead 312 ECONOMICS IN PRACTICE The Stock Market 266 ECONOMICS IN PRACTICE Do Children Learn or Inherit Investing Strategies from Their Parents? 267 Capital Accumulation and Allocation 267 A Final Word on Capital 267 Summary 268 Review Terms and Concepts Problems 269 Appendix: Calculating Present Value 269 271 A Q General Equilibrium and I the Efficiency of Perfect Competition 277 Market Adjustment to Changes in Demand 278
Allocative Efficiency and Competitive Equilibrium 280 Pareto Efficiency 280 ECONOMICS IN PRACTICE Cutting Rice Cultivation and Water Rationing in Egypt 281 The Efficiency of Perfect Competition 282 Perfect Competition versus Real Markets 285 The Sources of Market Failure 286 Imperfect Competition 286 Public Goods 286 Externalities 287 Imperfect Information 287 Evaluating the Market Mechanism 288 Summary 288 Review Terms and Concepts 289 Problems 289 PART III Market Imperfections and the Role of Government 292 Monopoly and Antitrust Policy 292 Imperfect Competition and Market Power: Core Concepts 293 11 Summary 312 Problems 314 -į Review Terms and Concepts 313 Oligopoly 317 Market Structure in an Oligopoly 318 ECONOMICS IN PRACTICE Patents in the Smartphone Industry 320 Oligopoly Models 321 The Collusion Model 321 The Price-Leadership Model 322 ECONOMICS IN PRACTICE The Philippines’ Rice Cartel 322 The Cournot Model 323 ECONOMICS IN PRACTICE The Economics of Treating Cancer 325 Game Theory 326 Repeated Games 328 ECONOMICS IN PRACTICE Confusing Prices 330 A Game with Many Players: Collective Action Can Be Blocked by a Prisoner’s Dilemma 3 30 Oligopoly and Economic Performance 331 Industrial Concentration and Technological Change 332
12 Contents The Role of Government 333 Regulation of Mergers 333 Optimal Provision of Public Goods 370 Local Provision of Public Goods: Tiebout Hypothesis 373 Common Resources 373 ECONOMICS IN PRACTICE Brazil s Pulp Giant 334 A Proper Role for Government? Summary 336 Review Terms and Concepts 335 337 Summary Problems Monopolistic Competition 340 Review Terms and Concepts 374 Problems 375 Uncertainty and Asymmetric Information 378 / Decision Making under Uncertainty: The Tools 379 Expected Value 379 Expected Utility 379 Attitudes toward Risk 381 Asymmetric Information 383 Adverse Selection 383 Industry Characteristics 341 Product Differentiation and Advertising 342 How Many Varieties? 342 How Do Firms Differentiate Products? 343 ECONOMICS IN PRACTICE Rational Excess Variety or Diversification Bias? 374 337 344 ECONOMICS IN PRACTICE Even Your Hair Needs ECONOMICS IN PRACTICE Adverse Selection in the Coaching Healthcare Market 346 Advertising 346 385 Market Signaling 386 ECONOMICS IN PRACTICE Oprah Winfrey’s ECONOMICS IN PRACTICE The Health Care Celebrity Endorsements Sell Books! 348 Price and Output Determination in Monopolistic Competition 349 Product Differentiation and Demand Elasticity Price/Output Determination in the Short Run 349 Price/Output Determination in the Long Run Economic Efficiency and Resource Allocation 351 Mandate Summary 352 Review Terms and Concepts 353 Problems Externalities, Public Goods, and Common Resources 355 Externalities and Environmental Economics 356 Marginal Social Cost and Marginal Cost Pricing 356 ECONOMICS IN PRACTICE Adjusting to the
Environmental Effects of Globalization 358 Costs and Benefits of Pollution 359 Internalizing Externalities 361 ECONOMICS IN PRACTICE The Cost of Emissions 366 ECONOMICS IN PRACTICE Emissions and Electricity Prices 368 Public (Social) Goods 369 The Characteristics of Public Goods 369 Public Provision of Public Goods 370 387 ECONOMICS IN PRACTICE Howto Read Advertisements 349 388 Moral Hazard 389 Incentives 389 ECONOMICS IN PRACTICE Independent Reviews 350 and Wanderlust 390 Labor Market Incentives Summary 391 390 Review Terms and Concepts 392 Problems 392 353 0 Income Distribution О and Poverty 394 1 The Sources of Household Income 395 Wages and Salaries 395 Income from Property 395 Income from the Government: Transfer Payments 395 The Distribution of Market Income 395 Income Inequality in the United States 395 Causes of Inequality in Market Income 397 Inequality in Wage Income 398 ECONOMICS IN PRACTICE Inclusive Growth in South Africa 399 ECONOMICS IN PRACTICE Social Identity and Tech Jobs 400 Inequality in Property Income 401 ECONOMICS IN PRACTICE The Egyptian Revolution ofDignity 402
Contents Arguments for and against Reducing Market-Income Inequality 403 Arguments against Redistribution 403 Arguments in Favor of Redistribution 404 Redistribution of Income Through Taxes and Transfers 405 The Tax System 406 The Transfer System 407 Redistribution Effects of Taxes and Transfers in 2013 409 Change in U.S. Inequality over Time: 1979-2013 409 Poverty 410 The Minimum Wage 411 The Distribution of Wealth 412 Income Inequality in Other Countries 412 Government or the Market? A Review 413 Summary 414 Review Terms and Concepts 415 Problems PART IV The World Economy 440 International Trade, Comparative Advantage, and Protectionism 440 415 Public Finance: The Economics of Taxation 418 The Basics of Taxation 419 Taxes: Basic Concepts 419 ECONOMICS IN PRACTICE Residential Property Taxes in Singapore 421 Tax Incidence: Who Pays? 422 The Incidence of Payroll Taxes 42 2 The Incidence of Corporate Profits Taxes 425 ECONOMICS IN PRACTICE Economists Argue about the Incidence of the Corporate Profits Tax 427 The Overall Incidence of Taxes in the United States: Empirical Evidence 427 Excess Burdens and the Principle of Neutrality 427 Measuring Excess Burdens 428 Excess Burdens and the Degree of Distortion 429 The Principle of Second Best 430 Optimal Taxation 430 Tax Equity 430 What Is the “Best” Tax Base? 431 Social Choice 433 The Voting Paradox 43 3 Government Inefficiency: Theory of Public Choice 435 Rent-Seeking Revisited 436 Summary 436 Review Terms and Concepts 437 13 Problems 437 Trade Surpluses and Deficits 441 The Economic Basis for Trade: Comparative Advantage 441
Absolute Advantage versus Comparative Advantage 442 Terms of Trade 446 Exchange Rates 447 The Sources of Comparative Advantage 449 The Heckscher-Ohlin Theorem 449 Other Explanations for Observed Trade Flows 450 Trade Barriers: Tariffs, Export Subsidies, and Quotas 450 ECONOMICS IN PRACTICE Globalization Improves Firm Productivity 451 U.S. Trade Policies, GATT, and the WTO 452 ECONOMICS IN PRACTICE What Happens When We Lift a Quota? 452 Free Trade or Protection? 454 The Case for Free Trade 454 The Case for Protection 456 ECONOMICS IN PRACTICE Reshaping the Global Trade Order 458 An Economic Consensus 460 Summary 460 П -j ճ I Review Terms and Concepts 461 Problems 461 Economic Growth in Developing Economies 464 Life in the Developing Nations: Population and Poverty 465 ECONOMICS IN PRACTICE What Can We Learn from the Height of Children? 466 Economic Development: Sources and Strategies 466 The Sources of Economic Development 467 ECONOMICS IN PRACTICE Corruption 469 Strategies for Economic Development 470 ECONOMICS IN PRACTICE Who You Marry May Depend on the Rain 472 Two Examples of Development: China and India 474 ECONOMICS IN PRACTICE Boosting Agricultural Income through Digital Finance 475
14 Contents ECONOMICS IN PRACTICE Moving to Opportunity 486 ECONOMICS IN PRACTICE Control Groups and Experimental Economics 487 Difference-in-Differences 488 Development Interventions 475 Random and Natural Experiments: Some New Techniques in Economic Development 476 Education Ideas 476 Health Improvements 477 Summary 478 Review Terms and Concepts 478 PARTY Methodology 481 Critical Thinking about Research 481 Selection Bias 482 Causality 483 Correlation versus Causation 483 Random Experiments 484 Regression Discontinuity 485 Problems 479 ECONOMICS IN PRACTICE Using Difference-inDifferences to Study the Efficacy of Medical Insurance in Japan 489 Statistical Significance 490 Regression Analysis 491 Summary 493 Review Terms and Concepts Glossary 496 Index 505 Photo Credits 523 493 Problems 494
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| author_facet | Case, Karl E. 1946- Fair, Ray C. 1942- Oster, Sharon M. 1948-2022 |
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| author_sort | Case, Karl E. 1946- |
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| discipline | Wirtschaftswissenschaften |
| edition | Thirteenth edition, Global Edition |
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| id | DE-604.BV046191054 |
| illustrated | Illustrated |
| indexdate | 2024-09-27T16:47:09Z |
| institution | BVB |
| isbn | 9781292303390 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-031570430 |
| oclc_num | 1126558618 |
| open_access_boolean | |
| owner | DE-706 DE-11 DE-473 DE-BY-UBG DE-355 DE-BY-UBR |
| owner_facet | DE-706 DE-11 DE-473 DE-BY-UBG DE-355 DE-BY-UBR |
| physical | 524 Seiten Illustrationen, Diagramme |
| publishDate | 2020 |
| publishDateSearch | 2020 |
| publishDateSort | 2020 |
| publisher | Pearson |
| record_format | marc |
| spellingShingle | Case, Karl E. 1946- Fair, Ray C. 1942- Oster, Sharon M. 1948-2022 Principles of Microeconomics Makroökonomie (DE-588)4037174-8 gnd Mikroökonomie (DE-588)4039225-9 gnd |
| subject_GND | (DE-588)4037174-8 (DE-588)4039225-9 (DE-588)4151278-9 (DE-588)4123623-3 |
| title | Principles of Microeconomics |
| title_auth | Principles of Microeconomics |
| title_exact_search | Principles of Microeconomics |
| title_full | Principles of Microeconomics Karl E. Case, Wellesley College, Ray C. Fair, Yale University, Sharon M. Oster, Yale University |
| title_fullStr | Principles of Microeconomics Karl E. Case, Wellesley College, Ray C. Fair, Yale University, Sharon M. Oster, Yale University |
| title_full_unstemmed | Principles of Microeconomics Karl E. Case, Wellesley College, Ray C. Fair, Yale University, Sharon M. Oster, Yale University |
| title_short | Principles of Microeconomics |
| title_sort | principles of microeconomics |
| topic | Makroökonomie (DE-588)4037174-8 gnd Mikroökonomie (DE-588)4039225-9 gnd |
| topic_facet | Makroökonomie Mikroökonomie Einführung Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=031570430&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT casekarle principlesofmicroeconomics AT fairrayc principlesofmicroeconomics AT ostersharonm principlesofmicroeconomics |