Principles of Microeconomics

Mankiw (economics, Harvard U.) explains microeconomics to undergraduate students, with the aim of helping them understand their world, be a more astute participant in the economy, and comprehend the potential and limits of economic policy. After outlining the ten principles of economics, he discusses how markets work, including supply and demand; consumers, producers, and the efficiency of markets; the costs of taxation; international trade; the economics of the public sector, including public goods and common resources and the design of the tax system; firm behavior and the organization of industry, with discussion of monopoly; labor markets, including earnings and discrimination and income inequality and poverty; the theory of consumer choice; and the emerging topics of asymmetric information, political economy, and behavioral economics. The companion website features resources like an interactive ebook, quizzes, graphing tutorials, and videos. Annotation c2012 Book News, Inc., Portland, OR (booknews.com)