Microeconomics, Global Edition

By (author) Perloff, Jeffrey M.; By (author) Perloff Jeffrey; By (author) Perloff Jeffrey
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Encourage your students to think like an industry professional.

This book is known for its accessible step-by-step structure, relating microeconomic theory to real-world practice, as well as its unique focus on modern theory. Backed by years of experience, the text equips students with the needed skills to think like a modern practitioner.

Description

For courses in microeconomics.

Significantly revised and updated with new real-world examples, exercises, and applications, this edition remains the premiere microeconomics text to marry formal theory with robust, thoroughly analysed real-world problems.

Intended as an intermediate microeconomics text, Perloff introduces economic theory through a combination of calculus, algebra, and graphs. The text integrates estimated, real-world problems and applications, using a step-by-step approach to demonstrate how microeconomic theory can be applied to solve practical problems and policy issues. Compared to other similar texts, the author also places greater emphasis on using contemporary theories–such as game theory and contract theory–to analyse markets.

Table of contents

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 and 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

Appendixes Answers to Selected Questions and Problems Sources for Challenges and Applications References Definitions Index Credits
Biographical note

Jeffrey M. Perloff is a professor in the Department of Agricultural and Resource Economics at the University of California at Berkeley. His economic research covers industrial organization, marketing, labor, trade and econometrics. He has been an editor of ''Industrial Relations'' and the ''Journal of Industrial Organization Education,'' and an associate editor of the ''American Journal of Agricultural Economics'' and the ''Journal of Productivity Analysis.'' Perloff has consulted with non-profit organizations and government agencies and is a fellow of the American Agricultural Economics Association. He was previously an assistant professor in the Department of Economics at the University of Pennsylvania.

Feature
Hallmark features of this title Features designed to prepare your students for a future career in Economics.

• Analysis of What-If Policies probes the likely outcomes of public policies to prepare students for the future, prompting them to think prospectively.
• Consideration of modern theories as well as traditional ones in Microeconomics gives students a well-rounded understanding of industry thinking.

Tools to enhance your students'' learning and understanding throughout.

• Real-world examples and applications showcase the versatility of modern microeconomics and give context to learnt theory.
• Cross-chapter analyses create crucial links between core theories covered in different chapters, with applications designed to sharpen your students'' analytical and quantitative skills.

New feature
New and updated features of this title New features to this edition enhance student learning and consolidate knowledge.