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Principles of Microeconomics, 7/E
Karl E. Case
Ray C. Fair, Yale University

ISBN-10: 013144283X
ISBN-13: 9780131442832

Publisher: Prentice Hall
Copyright: 2004
Format: Paper; 480 pp
Published: 11/25/2003

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Description

For the 1-semester freshman/sophomore course in Principles of Microeconomics.

These two highly-respected economists and educators have revised this best-selling Microeconomics book to include more current topics and events while maintaining its hallmark feature of teaching economics through stories, graphs, and equations; relevant to students with various learning styles (verbal, visual, and numerical).

Features

Unified, logical structure to Microeconomics –The perfectly competitive market is covered first, including coverage of how firms decide what to produce and how firms decide the number of people and type of technology to employ, before turning to noncompetitive markets such as monopoly.

~When students understand how a simple competitive market system works (Chapters 5-10), they are ready to focus on problems of real-world markets such as monopoly power, other non-competitive market structures, public goods, externalities, and income distribution (see Chapters 12-15). Chapter 11, General Equilibrium and the Efficiency of Perfect Competition, makes the transition from competitive markets to non-competitive markets and the potential role for government in the economy. Other texts encourage students to think of economics as a series of disconnected alternative market models and overwhelm students with too many concepts at once.

When covering Comparative Advantage, if you prefer a brief introduction early in the course with in-depth analysis later, peruse Chapter 2 and then Section V of Case and Fair with it extensive Global coverage, as well.

Expanded treatment of comparative advantage in Chapter 2, The Economic Problem: Scarcity and Choice.

~This enables the students to see the connection between growth, trade, comparative advantage and the production possibilities frontier (PPF).

Proven treatment of demand and supply in Chapter 3, Demand, Supply, and Market Equilibrium.

~Change in demand versus change in quantity demanded is explained in 3 different formats (stories, graphs, equations) to help students understand and retain this difficult concept.

If you have looked at or used Case/Fair in the past, but wished it had more modern coverage, be sure to check out the expanded game theory coverage in Chapter 13, a new Chapter (16) on Public Finance, and early coverage of Consumer and Producer Surplus in Chapter 4.

Chapter 4, Demand and Supply Applications and Elasticity, is an extension of supply and demand and features applications including consumer and producer surplus, elasticity, and price ceilings.

~New coverage of consumer surplus, producer surplus, deadweight loss and price floors has been added to provide a more balanced and complete treatment of modern demand and supply applications.

The Foundation: Stories, graphs, equations –Presents the core concepts of economics in three ways: First, each major concept is presented in the context of a simple intuitive story or illustrative example in words followed by a numerical illustration or table. Second, the numerical example is presented graphically. And finally, where appropriate, equations are used.

~Presenting the material in different formats will convey the core principles of the discipline to a wide range of students.

New To This Edition

Expanded game theory coverage in Chapter 13, Monopolistic Competition and Oligopoly, provides a basic introduction to strategic interaction of firms.

~An accessible presentation of a modern micro topic.

Expanded coverage of the minimum wage in Chapter 15, Income Distribution and Poverty.

~Minimum wage is now introduced in Chapter 4, Demand and Supply Applications, and covered thoroughly in Chapter 15.

NEW - Chapter 16, Public Finance: The Economics of Taxation, covers basic taxation information, including Bushs recent tax changes and what this means for different segments of the economy.

~Consumer surplus and producer surplus is revisited here to reinforce the principles discussed in Chapter 4, Demand and Supply Applications.

NEW - Chapter 18, Globalization, Growth and Development, examines the current trends, issues and debates surrounding the effect of globalization and trade on the developing world.

~Issues such as the movement for and against globalization, trade agreements and barriers, the World Trade Organization, the environment, child labor, sovereignty, and the impact of AIDS on developing economies, are discussed to show recent developments.

Expanded coverage of price discrimination in Chapter 12, Monopoly and Antitrust.

~Shows how and why a firm with market power charges different prices to different consumers.

Table of Contents

I. INTRODUCTION TO ECONOMICS.

1. The Scope and Method of Economics.

2. The Economic Problem: Scarcity and Choice.

3. Demand, Supply, and Market Equilibrium.

4. Demand and Supply Applications and Elasticity.

II. FOUNDATIONS OF MICROECONOMICS: CONSUMERS AND FIRMS.

5. Household Behavior and Consumer Choice.

6. The Production Process: The Behavior of Profit-Maximizing Firms.

7. Short-Run Costs and Output Decisions.

8. Long-Run Costs and Output Decisions.

9. Input Demand: The Labor and Land Markets.

10. Input Demand: The Capital Market and the Investment Decision.

11. General Equilibrium and the Efficiency of Perfect Competition.

III. MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT.

12. Monopoly and Antitrust Policy.

13. Monopolistic Competition and Oligopoly.

14. Externalities, Public Goods, Imperfect Information, and Social Choice.

15. Income Distribution and Poverty.

16. Public Finance: The Economics of Taxation.

IV. THE WORLD ECONOMY.

17. International Trade, Comparative Advantage, and Protectionism.

18. Globalization.

19. Economic Growth in Developing and Transitional Economies.

Next Edition(s)

Principles of Microeconomics, 10/E
Case, Fair & Oster
©2012 | Prentice Hall | Paper; 503 pp | Instock
ISBN-10: 0131388851 | ISBN-13: 9780131388857
Suggested retail price: $186.67 Buy from myPearsonStoreNet price: $140.00 (What's this?)
Brief Description |
For the one semester principles of microeconomics course.

Reviewers tell us that Case/Fair is one of the all-time bestselling POE texts because they trust it to be clear, thorough and complete.

MyEconLab New Design is now available for this title! MyEconLab New Design offers:

One Place for All of Your Courses. Improved registration experience and a single point of access for instructors and students who are teaching and learning multiple MyLab/Mastering courses.

A Simplified User Interface. The new user interface offers quick and easy access to Assignments, Study Plan, eText & Results, as well as additional option for course customization.

New Communication Tools. The following new communication tools can be used to foster collaboration, class participation, and group work.

Email: Instructors can send emails to their entire class, to individual students or to instructors who has access to their course.

Discussion Board: The discussion board provides students with a space to respond and react to the discussions you create. These posts can also be separated out into specific topics where students can share their opinions/answers and respond to their fellow classmates’ posts.

Chat/ ClassLive: ClassLive is an interactive chat tool that allows instructors and students to communicate in real time. ClassLive can be used with a group of students or one-on-one to share images or PowerPoint presentations, draw or write objects on a whiteboard, or send and received graphed or plotted equations. ClassLive also has additional classroom management tools, including polling and hand-raising.

Enhanced eText. Available within the online course materials and offline via an iPad app, the enhanced eText allows instructors and students to highlight, bookmark, take notes, and share with one another.
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Principles of Microeconomics, 9/E
Case, Fair & Oster
©2009 | Prentice Hall | Paper; 496 pp | Instock
ISBN-10: 013605885X | ISBN-13: 9780136058854
Suggested retail price: $186.67 Net price: $140.00 (What's this?)Brief Description |
For the 1 semester principles of microeconomics course.

Reviewers tell us that Case/Fair is one of the all-time bestselling POE texts because they trust it to be clear, thorough and complete. This well-respected author team is joined for the 9^th edition by a new co-author, Sharon Oster. Sharon’s research and teaching experience brings new coverage of modern topics and an applied approach to economic theory, as demonstrated in the new Economics in Practice feature.
More Info

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Principles of Microeconomics, 7/E