Modern Principles: Microeconomics (2nd Revised edition)

Modern Principles: Microeconomics (2nd Revised edition)

By: Alex Tabarrock (author), Tyler Cowen (author)Paperback

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Engaging authors, unbiased presentations of essential ideas, and a knack for revealing the 'invisible hand' of economics at work inform the thoroughly updated new edition of Modern Principles, drawing on a wealth of captivating applications to show readers how economics shed light on business, politics, world affairs, and everyday life.

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About Author

TYLER COWEN Holbert C. Harris Professor of Economics at George Mason University, USA, and Director of the Mercatus Center and the James M. Buchanan Center for Political Economy. He is published widely in economics journals, including the American Economic Review and Journal of Political Economy. With Alex Tabarrok he co-writes the Marginal Revolution blog, often ranked as the #1 economics blog. He is also the author of Discover Your Inner Economist (Dutton, 2007) and numerous other books on economics. He writes regularly for the popular press on economics, including for The New York Times, The Washington Post, Forbes, and The Wilson Quarterly. ALEX TABARROK Bartley J. Madden Chair in Economics at the Mercatus Center at George Mason University, USA, and director of research for The Independent Institute. Tabarrok is co-author with Tyler Cowen of the popular economics blog, Marginal Revolution. His recent research looks at bounty hunters, judicial incentives and elections, crime control, patent reform, methods to increase the supply of human organs for transplant, and the regulation of pharmaceuticals. He is the editor of the books, Entrepreneurial Economics: Bright Ideas from the Dismal Science; The Voluntary City: Choice, Community, and Civil Society; and Changing the Guard: Private Prisons and The Control of Crime. His papers have appeared in the Journal of Law and Economics, Public Choice, Economic Inquiry, Journal of Health Economics, Journal of Theoretical Politics, The American Law and Economics Review, Kyklos and many other journals. His popular articles have appeared in The New York Times, The Wall Street Journal, and many other magazines and newspapers.


PART I: SUPPLY AND DEMAND The Big Ideas The Power of Trade and Comparative Advantage Supply and Demand Equilibrium: How Supply and Demand Determine Prices Elasticity and its Applications Appendix: Other Types of Elasticities Appendix: Elasticities with Excel Taxes and Subsidies PART II: THE PRICE SYSTEM The Price System: Signals, Speculation and Prediction Price Ceilings and Price Floors International Trade Externalities: When Prices Send the Wrong Signals PART III: FIRMS AND FACTOR MARKETS Costs and Profit Maximization Under Competition Appendix: Using Excel to Graph Cost Curves Competition and the Invisible Hand Monopoly Price Discrimination Appendix: Solving Price Discrimination Problems with Excel Cartels, Oligopolies, and Monopolistic Competition The Economics of Network Goods: Competing for Monopoly Labor Markets PART IV: GOVERNMENT Public Goods and the Tragedy of the Commons Appendix: The Tragedy of the Commons: How Fast? Political Economy and Public Choice Economics, Ethics and Public Policy PART V: DECISION MAKING FOR BUSINESSES, INVESTORS, AND CONSUMERS Managing Incentives Stock Markets and Personal Finance Consumer Choice Back-of-Book Appendices A: Reading Graphs in Economics B: Answers to Check Yourself

Product Details

  • publication date: 11/01/2012
  • ISBN13: 9781429239998
  • Format: Paperback
  • Number Of Pages: 512
  • ID: 9781429239998
  • weight: 1006
  • ISBN10: 1429239999
  • edition: 2nd Revised edition

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