Microeconomics Principles of Microeconomics
Principles of Microeconomics

Principles of Microeconomics Mankiw • 8th Edition • 978-1305971493

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Ch. 1 - Ten Principles of Economics

Introduction to Economics Three Key Economic Ideas Productive and Allocative Efficiency; Equality

Ch. 2 - Thinking Like an Economist

Circular Flow Diagram Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency PPF - Outward Shifts Positive and Normative Statements Graphing Review Percentage and Decimal Review Fractions Review

Ch. 3 - Interdependence and the Gains from Trade

PPF - Comparative Advantage and Absolute Advantage PPF - Comparative Advantage and Trade PPF - The Price of the Trade

Ch. 4 - The Market Forces of Supply and Demand

Introduction to Supply and Demand The Basics of Demand Individual Demand and Market Demand Shifting Demand The Basics of Supply Individual Supply and Market Supply Shifting Supply Big Daddy Shift Summary Supply and Demand Together: Equilibrium, Shortage, and Surplus Supply and Demand Together: One-sided Shifts Supply and Demand Together: Both Shift

Ch. 5 - Elasticity and Its Application

Percentage Change and Price Elasticity of Demand Elasticity and the Midpoint Method Price Elasticity of Demand on a Graph Determinants of Price Elasticity of Demand Total Revenue Test Total Revenue Along a Linear Demand Curve Income Elasticity of Demand Cross-Price Elasticity of Demand Price Elasticity of Supply Price Elasticity of Supply on a Graph Elasticity Summary

Ch. 6 - Supply, Demand, and Government Policies

Price Ceilings, Price Floors, and Black Markets Introducing Taxes and Tax Incidence The Laffer Curve

Ch. 7 - Consumers, Producers, and the Efficiency of Markets

Consumer Surplus and Willingness to Pay Producer Surplus and Willingness to Sell Economic Surplus and Efficiency

Ch. 8 - Application: The Costs of Taxation

Effects of Taxes on a Market Elasticity and Taxes

Ch. 9 - Application: International Trade

Exporting and Importing Tariffs on Imports Arguments Against International Trade

Ch. 10 - Externalities

Externalities: Social Benefits and Social Costs Public Solutions to Externalities Private Solutions to Externalities: The Coase Theorem

Ch. 11 - Public Goods and Common Resources

Four Types of Goods and Two Characteristics The Free Rider Problem and the Tragedy of the Commons

Ch. 12 - The Design of the Tax System

Tax Efficiency Tax Equity

Ch. 13 - The Costs of Production

Revenue, Cost, and Profit The Production Function and Diminishing Returns Marginal Cost The Relationship Between Average Cost and Marginal Cost Graphing Costs Average Total Cost: Short Run and Long Run

Ch. 14 - Firms in Competitive Markets

Introduction to the Four Market Models Characteristics of Perfect Competition Revenue in Perfect Competition Perfect Competition Profit on the Graph Short Run Shutdown Decision Long Run Entry and Exit Decision Individual Supply Curve in the Short Run and Long Run Market Supply Curve in the Short Run and Long Run Long Run Equilibrium Four Market Model Summary: Perfect Competition

Ch. 15 - Monopoly

Characteristics of Monopoly Monopoly Revenue Monopoly Profit on the Graph Monopoly Efficiency and Deadweight Loss Price Discrimination Antitrust Laws and Government Regulation of Monopolies Four Market Model Summary: Monopoly

Ch. 16 - Monopolistic Competition

Characteristics of Monopolistic Competition Revenue in Monopolistic Competition Monopolistic Competition Profit on the Graph Monopolistic Competition in the Long Run Efficiency in Monopolistic Competition Advertising Four Market Model Summary: Monopolistic Competition

Ch. 17 - Oligopoly

Characteristics of Oligopoly One-Time Games and the Prisoner's Dilemma Game Theory and Oligopoly Profit Four Market Model Summary: Oligopoly

Ch. 18 - The Markets for the Factors of Production

Factors of Production The Production Function and Marginal Revenue Product Demand for Labor in Perfect Competition Shifts in Labor Demand Supply of Labor in Perfect Competition Shifts in Labor Supply Other Factors of Production: Land and Capital Income Inequality in the USA and Worldwide

Ch. 19 - Earnings and Discrimination

Differences in Wages Discrimination Unions

Ch. 20 - Income Inequality and Poverty

Income Inequality in the USA and Worldwide Poverty Polices to Reduce Poverty

Ch. 21 - The Theory of Consumer Choice

Budget Constraint Indifference Curves Indifference Curves for Perfect Substitutes and Perfect Complements Consumer Optimum Consumption: Budget Constraint and Indifference Curves

Ch. 22 - Frontiers of Microeconomics

Asymmetric Information: Adverse Selection and Moral Hazard Solutions to Informational Problems Median Voter Theorem Condorcet Voting Paradox

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