NEW

Microeconomics

Fourth Edition

Publication Date: April 15, 2024

Paperback ISBN: 9781319544294

Pages: 636

Like no other digital product for the intermediate microeconomics course, Goolsbee, Levitt, and Syverson’s Microeconomics helps students see the difference between theory and practice.

Goolsbee, Levitt, and Syverson’s text helps answer two critical questions students ask, "Do people and firms really act as theory suggests" and "How can someone use microeconomics in a practical way?"

The authors teach in economics departments and business schools and are active empirical

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ISBN: 9781319544294
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Part I
Chapter 1 Adventures in Microeconomics
Chapter 2 Supply and Demand
Appendix 2A (Achieve only) The Calculus of Equilibrium and Elasticities
Chapter 3 Using Supply and Demand to Analyze markets
Appendix 3A (Achieve only) The Calculus of Consumer and Producer Surplus

Part II
Chapter 4 Consumer Behavior
Appendix 4A The Calculus of Utility Maximization and Expenditure Minimization
Appendix 4B (Achieve only) The Mathematics of Utility Functions
Chapter 5 Individual and Market Demand
Appendix 5A The Calculus of Utility Maximization and Expenditure Minimization
Appendix 5B (Achieve only) The Calculus of Demand
Chapter 6 Producer Behavior
Appendix 6A The Calculus of Cost Minimization
Appendix 6B (Achieve only) The Calculus of Production Functions
Chapter 7 Costs
Appendix 7A The Calculus of a Firms Cost Structure
Appendix 7B (Achieve only) The Calculus of a Firms Cost Structure Expanded

Part III
Chapter 8 Supply in a Competitive Market
Appendix 8A (Achieve only) The Calculus of Long-Run Competitive Equilibria
Chapter 9 Market Power and Monopoly
Appendix 9A The Calculus of Profit Maximization
Chapter 10 Pricing Strategies for Firms with Market Power
Appendix 10A (Achieve only) The Calculus of Price Strategies
Chapter 11 Imperfect Competition
Appendix 11A (Achieve only) The Calculus of Cournot and Differentiated Bertrand Competition Equilibrium
Chapter 12 Game Theory
Appendix 12A (Achieve only) The Mathematics of Mixed Strategies in Game Theory
Chapter 13 Factor Markets

Part IV
Chapter 14 Investment, Time, and Insurance
Chapter 15 General Equilibrium
Chapter 16 Asymmetric Information
Chapter 17 Externalities
Chapter 18 Behavioral and Experimental Economics

Backmatter
Math Review Appendix
Solutions to Review Questions
Solutions to Select End-of-Chapter Problems
Glossary

Applications show how microeconomic theory informs consumer and producer decision making in real situations. These applications show the practical uses of theory today and draw on data from numerous different sources. 13 are new or updated.
Freakonomics essays apply economic analysis to common phenomena, helping to foster economic intuition. 7 are new or updated
Figure It Out worked-out problems walk students through the process of how to use economic tools and analysis to think through a problem and develop its solution.
Make the Grade essays point out common pitfalls that students may encounter and help them navigate through the finer points of micro theory.
Optional Calculus appendices provide students with another way to understand economic theory.

Achieve is Macmillan Learning’s complete online learning system. It houses instructor resources to support teaching and a range of interactive resources and the full ebook to help students succeed in their course. Access to Achieve for instructors is available on this page. Student access to Achieve could be through their institution if the institution has signed a licence or as a separate student purchase. The instructor must set up a course for students to benefit from this product.

Microeconomics is now available with Achieve.
New and revised applications are found throughout the text and feature interesting topics from What the Pandemic Taught Us about Movies to Electric Vehicles and Lithium
New Freakonomics boxes (Is There a Pink Tax? and The Power of Market Power, for example) help bridge economic concepts with the real world.
Pandemic coverage and impacts to the microeconomy integrated throughout the text.

Austan Goolsbee

Austan Goolsbee is the Robert P. Gwinn Professor of Economics at the University of Chicago Booth School of Business, where he joined the faculty in 1995. From 2009 to 2011, he served in Washington as a Member and then Chairman of the Council of Economic Advisers and the youngest member of the President’s Cabinet. He is a past Alfred P. Sloan Fellow and Fulbright Scholar. He earned bachelor’s and master’s degrees from Yale University and a PhD in economics from Massachusetts Institute of technology. Goolsbee is also President of the Federal Reserve Bank of Chicago.

Steven Levitt

Steven Levitt is the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago, where he directs the Becker Center on Chicago Price Theory. He earned a bachelor’s degree from Harvard University and his PhD from Massachusetts Institute of Technology. He has taught at the University of Chicago since 1997. In 2004, Levitt was awarded the John Bates Clark Medal, and in 2006, he was named one of Time magazine’s “100 People Who Shape Our World.” He co-authored a series of books on popular economics starting with Freakonomics and hosts the podcast People I Mostly Admire.

Chad Syverson

Chad Syverson is the George C. Tiao Distinguished Service Professor of Economics at the University of Chicago Booth School of Business. He joined the Chicago faculty in 2001. His research spans several topics, with a particular focus on the interactions of firm structure, market structure, and productivity. He has been an editor of the Journal of Political Economy and RAND Journal of Economics, has served on multiple National Academies committees, is a research associate of the National Bureau of Economic Research, and is a Fellow of the Econometric Society. He earned bachelor’s degrees in economics and mechanical engineering from the University of North Dakota, and a PhD in economics from the University of Maryland.

Achieve for Microeconomics is an online learning system backed by extensive development and research. Proven to increase student engagement and boost performance. Achieve offers:

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Course and book-specific resources including adaptive quizzing to personalise the experience for students.
A grade book, assignable assessments with targeted feedback, insights and reporting, instructor resources - all with seamless integration options.
Integrated with iClicker so that instructors and students can benefit in class and remotely from an industry leading student response system.
Interactive graphs: To help students understand economic models, Achieve now offers interactive graphs throughout the e-book. Students can manipulate graphs to simulate market dynamics, providing a more engaging reading and learning experience.

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About Achieve

Achieve is our online learning system backed by extensive development and research, proven to increase student engagement and boost performance. Achieve offers:

Access to the ebook to download, read and virtually annotate for a completely flexible experience.
Course and book-specific resources. Most Achieve courses come our LearningCurve, our adaptive quizzing engine with personalized question sets and clear feedback based on each student’s correct and incorrect answers.
A grade book, assignable assessments with targeted feedback, insights and reporting, instructor resources - all with seamless integration options.

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