Modern Principles: Microeconomics
Sixth Edition ©2024 Tyler Cowen; Alex Tabarrok Formats: Achieve, E-book, Print
As low as C$91.99
As low as C$91.99
- Product Overview
- Content Material
- Assessment
- Reports and Insights
- Teaching Resources
- Support and Services
Authors
-
Tyler Cowen
Tyler Cowen is Holbert C. Harris Professor of Economics at George Mason University. His latest book is Big Business. 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. University web page: http://economics.gmu.edu/faculty/tcowen.html WATCH: Tyler Cowen at the Economic Bloggers Forum.
-
Alex Tabarrok
Alex Tabarrok is Bartley J. Madden Chair in Economics at the Mercatus Center at George Mason University. 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.
Table of Contents
Chapter 1 The Big Ideas
Chapter 2 The Power of Trade and Comparative Advantage
Part I Supply and Demand
Chapter 3 Supply and Demand
Chapter 4 Equilibrium
Chapter 5 Elasticity and Its Applications
Chapter 6 Taxes and Subsidies
Part II The Price System
Chapter 7 The Price System: Signals, Speculation, and Prediction
Chapter 8 Price Ceilings and Floors
Chapter 9 International Trade
Chapter 10 Externalities: When the Price is Not Right
Part III Firms and Factor Markets
Chapter 11 Costs and Profit Maximization Under Competition
Chapter 12 Competition and the Invisible Hand
Chapter 13 Monopoly
Chapter 14 Price Discrimination and Price Strategy
Chapter 15 Oligopoly and Game Theory
Chapter 16 Networks, Platforms, and the Economics of "Free Goods"
Chapter 17 Monopolistic Competition and Advertising
Chapter 18 Labor Markets
Part IV Government
Chapter 19 Public Goods and the Tragedy of the Commons
Chapter 20 Political Economy and Public Choice
Chapter 21 Economics, Ethics, and Public Policy
Part V Decision Making for Businesses, Investors, and Consumers
Chapter 22 Managing Incentives
Chapter 23 Stock Markets and Personal Finance
Chapter 24 Asymmetric Information: Moral Hazard and Adverse Selection
Chapter 25 Consumer Choice
Product Updates
Interactive Graphs, in the e-book and in a Graphing Bank, allow students to engage with economic models to see how components of the graph change as market dynamics change. Every data graph in the text is now interactive, so students can explore live visualizations and improve their data literacy.
Learning Economics from AI! (in the preface) show students how to use resources such as ChatGPT or Bing Chat to get meaningful answers to economics questions. The cover for 6e was generated by author Alex Tabarroks use of AI, as well.
12 NEW Marginal Revolution University Videos in Achieve accompanied by assessment questions.
Are free goods good? Surprisingly, the answer is "Not necessarily." In the chapter on Taxes and Subsidies, We contrast two strategies for making a good "free": 1) outlawing the sale of a good for money, i.e., mandating a zero-price ceiling, and 2) subsidizing production to such an extent that prices plummet to zero. In the first scenario, deadweight loss arises as society forfeits the value of transactions that never occur. In the second, deadweight loss results from excessive transactions where the marginal cost exceeds the marginal value.
Authors
-
Tyler Cowen
Tyler Cowen is Holbert C. Harris Professor of Economics at George Mason University. His latest book is Big Business. 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. University web page: http://economics.gmu.edu/faculty/tcowen.html WATCH: Tyler Cowen at the Economic Bloggers Forum.
-
Alex Tabarrok
Alex Tabarrok is Bartley J. Madden Chair in Economics at the Mercatus Center at George Mason University. 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.
Table of Contents
Chapter 1 The Big Ideas
Chapter 2 The Power of Trade and Comparative Advantage
Part I Supply and Demand
Chapter 3 Supply and Demand
Chapter 4 Equilibrium
Chapter 5 Elasticity and Its Applications
Chapter 6 Taxes and Subsidies
Part II The Price System
Chapter 7 The Price System: Signals, Speculation, and Prediction
Chapter 8 Price Ceilings and Floors
Chapter 9 International Trade
Chapter 10 Externalities: When the Price is Not Right
Part III Firms and Factor Markets
Chapter 11 Costs and Profit Maximization Under Competition
Chapter 12 Competition and the Invisible Hand
Chapter 13 Monopoly
Chapter 14 Price Discrimination and Price Strategy
Chapter 15 Oligopoly and Game Theory
Chapter 16 Networks, Platforms, and the Economics of "Free Goods"
Chapter 17 Monopolistic Competition and Advertising
Chapter 18 Labor Markets
Part IV Government
Chapter 19 Public Goods and the Tragedy of the Commons
Chapter 20 Political Economy and Public Choice
Chapter 21 Economics, Ethics, and Public Policy
Part V Decision Making for Businesses, Investors, and Consumers
Chapter 22 Managing Incentives
Chapter 23 Stock Markets and Personal Finance
Chapter 24 Asymmetric Information: Moral Hazard and Adverse Selection
Chapter 25 Consumer Choice
Product Updates
Interactive Graphs, in the e-book and in a Graphing Bank, allow students to engage with economic models to see how components of the graph change as market dynamics change. Every data graph in the text is now interactive, so students can explore live visualizations and improve their data literacy.
Learning Economics from AI! (in the preface) show students how to use resources such as ChatGPT or Bing Chat to get meaningful answers to economics questions. The cover for 6e was generated by author Alex Tabarroks use of AI, as well.
12 NEW Marginal Revolution University Videos in Achieve accompanied by assessment questions.
Are free goods good? Surprisingly, the answer is "Not necessarily." In the chapter on Taxes and Subsidies, We contrast two strategies for making a good "free": 1) outlawing the sale of a good for money, i.e., mandating a zero-price ceiling, and 2) subsidizing production to such an extent that prices plummet to zero. In the first scenario, deadweight loss arises as society forfeits the value of transactions that never occur. In the second, deadweight loss results from excessive transactions where the marginal cost exceeds the marginal value.
Teach the Principles of Microeconomics, teach the World, and help students ACHIEVE.
For over 20 years, Tyler Cowen and Alex Tabarrok have made economics engaging and accessible—from their hugely influential economics blog, Marginal Revolution, to their game-changing economics videos.They bring that same refreshing approach to their innovative principles of economics textbook.
Modern Principles sets a new standard for introductory economics. Building on the runaway success of their Marginal Revolution University video series, Cowen and Tabarrok integrate over 100 superb explanatory videos throughout the textbook. The videos bring key concepts to life, allowing students to visualize core economic principles in action.
The textbook itself is crafted to focus on the ideas, examples and applications today's students care about. Real-world data and pressing policy debates show how economics can solve problems and enable better decision making. Accessible explanations and intuitive graphs make even complex concepts understandable. The textbook is designed for contemporary students while retaining the academic rigor of the dismal science.
For an introduction to economics that's truly modern, there's only one choice— Modern Principles from Tyler Cowen and Alex Tabarrok. Let the masters of popular economics education put their decades of teaching expertise to work for you and your students.
Success Stories
Here are a few examples of how Achieve has helped instructors like you improve student preparedness, enhance their sense of belonging, and achieve course goals they set for themselves.
Prof. Kiandra Johnson, Spelman College
See how the resources in Achieve help you engage students before, during, and after class.
Prof. Jennifer Duncan
Use diagnostics in Achieve for a snapshot into cognitive and non-cognitive factors that may impact your students’ preparedness.
Prof. Ryan Elsenpeter
Here’s why educators who use Achieve would recommend it to their peers.
Related Titles
Looking for instructor resources like Test Banks, Lecture Slides, and Clicker Questions? Request access to Achieve to explore the full suite of instructor resources.
Instructor Resources
Instructor Resources
Access Test Bank
You need to sign in as a verified instructor to access the Test Bank.
Test Bank for Modern Principles: Microeconomics
Tyler Cowen; Alex Tabarrok | Sixth Edition | ©2024 | ISBN:9781319482855
Download Resources
You need to sign in to unlock your resources.
You've selected:
Click the E-mail Download Link button and we'll send you an e-mail at with links to download your instructor resources. Please note there may be a delay in delivering your e-mail depending on the size of the files.
Warning! These materials are owned by Macmillan Learning or its licensors and are protected by copyright laws in the United States and other jurisdictions. Such materials may include a digital watermark that is linked to your name and email address in your Macmillan Learning account to identify the source of any materials used in an unauthorised way and prevent online piracy. These materials are being provided solely for instructional use by instructors who have adopted Macmillan Learning’s accompanying textbooks or online products for use by students in their courses. These materials may not be copied, distributed, sold, shared, posted online, or used, in print or electronic format, except in the limited circumstances set forth in the Macmillan Learning Terms of Use and any other reproduction or distribution is illegal. These materials may not be made publicly available under any circumstances. All other rights reserved. For more information about the use of your personal data including for the purposes of anti-piracy enforcement, please refer to Macmillan Learning's.Privacy Notice
Thank you!
Your download request has been received and your download link will be sent to .
Please note you could wait up to 30 to 60 minutes to receive your download e-mail depending on the number and size of the files. We appreciate your patience while we process your request.
Check your inbox, trash, and spam folders for an e-mail from InstructorResources@macmillan.com.
If you do not receive your e-mail, please visit macmillanlearning.com/support.
FAQs
-
-
Are you a campus bookstore looking for ordering information?
MPS Order Search Tool (MOST) is a web-based purchase order tracking program that allows customers to view and track their purchases. No registration or special codes needed! Just enter your BILL-TO ACCT # and your ZIP CODE to track orders.
Canadian Stores: Please use only the first five digits/letters in your zip code on MOST.
Visit MOST, our online ordering system for booksellers: https://tracking.mpsvirginia.com/Login.aspx
Learn more about our Bookstore programs here: https://www.macmillanlearning.com/college/us/contact-us/booksellers
-
-
-
Our courses currently integrate with Canvas, Blackboard (Learn and Ultra), Brightspace, D2L, and Moodle. Click on the support documentation below to find out more details about the integration with each LMS.
Integrate Macmillan courses with Blackboard
Integrate Macmillan courses with Canvas
-
-
-
If you’re a verified instructor, you can request a free sample of our courseware, e-book, or print textbook to consider for use in your courses. Only registered and verified instructors can receive free print and digital samples, and they should not be sold to bookstores or book resellers. If you don't yet have an existing account with Macmillan Learning, it can take up to two business days to verify your status as an instructor. You can request a free sample from the right side of this product page by clicking on the "Request Instructor Sample" button or by contacting your rep. Learn more.
-
-
-
Sometimes also referred to as a spiral-bound or binder-ready textbook, loose-leaf textbooks are available to purchase. This three-hole punched, unbound version of the book costs less than a hardcover or paperback book.
-
-
-
Achieve (full course) includes our complete e-book, as well as online quizzing tools, multimedia assets, and iClicker active classroom manager.
Most Achieve Essentials courses do not include our e-books and adaptive quizzing.
Visit our comparison table for details: https://www.macmillanlearning.com/college/us/digital/achieve/compare
-
-
-
Achieve (full course) includes our complete e-book, as well as online quizzing tools, multimedia assets, and iClicker active classroom manager.
Achieve Read & Practice only includes our e-book and adaptive quizzing, and does not include instructor resources and assignable assessments. Read & Practice does integrate with LMS.
Visit our comparison table for details: https://www.macmillanlearning.com/college/us/digital/achieve/compare
-
-
-
We can help! Contact your representative to discuss your specific needs for your course. If our off-the-shelf course materials don’t quite hit the mark, we also offer custom solutions made to fit your needs.
-
ISBN:9781319482954
Access all your course tools in one place!
ISBN:9781319482923
Take notes, add highlights, and download our mobile-friendly e-books.
ISBN:9781319482800
Save money with our hole-punched, loose-leaf textbook.
ISBN:9781319544089
This package includes Achieve and Loose-Leaf.
FAQs
-
-
Are you a campus bookstore looking for ordering information?
MPS Order Search Tool (MOST) is a web-based purchase order tracking program that allows customers to view and track their purchases. No registration or special codes needed! Just enter your BILL-TO ACCT # and your ZIP CODE to track orders.
Canadian Stores: Please use only the first five digits/letters in your zip code on MOST.
Visit MOST, our online ordering system for booksellers: https://tracking.mpsvirginia.com/Login.aspx
Learn more about our Bookstore programs here: https://www.macmillanlearning.com/college/us/contact-us/booksellers
-
-
-
Our courses currently integrate with Canvas, Blackboard (Learn and Ultra), Brightspace, D2L, and Moodle. Click on the support documentation below to find out more details about the integration with each LMS.
Integrate Macmillan courses with Blackboard
Integrate Macmillan courses with Canvas
-
-
-
If you’re a verified instructor, you can request a free sample of our courseware, e-book, or print textbook to consider for use in your courses. Only registered and verified instructors can receive free print and digital samples, and they should not be sold to bookstores or book resellers. If you don't yet have an existing account with Macmillan Learning, it can take up to two business days to verify your status as an instructor. You can request a free sample from the right side of this product page by clicking on the "Request Instructor Sample" button or by contacting your rep. Learn more.
-
-
-
Sometimes also referred to as a spiral-bound or binder-ready textbook, loose-leaf textbooks are available to purchase. This three-hole punched, unbound version of the book costs less than a hardcover or paperback book.
-
-
-
Achieve (full course) includes our complete e-book, as well as online quizzing tools, multimedia assets, and iClicker active classroom manager.
Most Achieve Essentials courses do not include our e-books and adaptive quizzing.
Visit our comparison table for details: https://www.macmillanlearning.com/college/us/digital/achieve/compare
-
-
-
Achieve (full course) includes our complete e-book, as well as online quizzing tools, multimedia assets, and iClicker active classroom manager.
Achieve Read & Practice only includes our e-book and adaptive quizzing, and does not include instructor resources and assignable assessments. Read & Practice does integrate with LMS.
Visit our comparison table for details: https://www.macmillanlearning.com/college/us/digital/achieve/compare
-
-
-
We can help! Contact your representative to discuss your specific needs for your course. If our off-the-shelf course materials don’t quite hit the mark, we also offer custom solutions made to fit your needs.
-
Modern Principles: Microeconomics
For over 20 years, Tyler Cowen and Alex Tabarrok have made economics engaging and accessible—from their hugely influential economics blog, Marginal Revolution, to their game-changing economics videos.They bring that same refreshing approach to their innovative principles of economics textbook.
Modern Principles sets a new standard for introductory economics. Building on the runaway success of their Marginal Revolution University video series, Cowen and Tabarrok integrate over 100 superb explanatory videos throughout the textbook. The videos bring key concepts to life, allowing students to visualize core economic principles in action.
The textbook itself is crafted to focus on the ideas, examples and applications today's students care about. Real-world data and pressing policy debates show how economics can solve problems and enable better decision making. Accessible explanations and intuitive graphs make even complex concepts understandable. The textbook is designed for contemporary students while retaining the academic rigor of the dismal science.
For an introduction to economics that's truly modern, there's only one choice— Modern Principles from Tyler Cowen and Alex Tabarrok. Let the masters of popular economics education put their decades of teaching expertise to work for you and your students.
Select a demo to view:
Sample Achieve