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Principles of Microeconomics: A Streamlined Approach seeks to promote a deeper understanding of economics by focusing on core concepts to produce economic naturalists through active learning. By eliminating overwhelming detail and focusing on core principles, students from all backgrounds are able to grasp a deeper understanding of economics. Instead of quantitative detail, the focus is on helping students become “economic naturalists,” people who employ basic economic principles to understand and explain the world around them. COVID-19 pandemic content, analysis, and examples further engage students. Fewer themes, less math rigor, and a new suite of video resources allow instructors the flexibility to teach the course they want to teach, whether it’s adopting a flipped classroom format, administering a course online, or just bringing more engaging, digital content into their lectures. Students benefit from more repetition of basic concepts and support through the interactive resources in Connect, resulting in a greater mastery and retention of core economic ideas. With new videos and engagement tools in Connect, like Application-Based Activities, alongside SmartBook's adaptive reading experience, the 4th edition enables instructors to spend class time engaging, facilitating, and answering questions instead of lecturing on the basics. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.
Introduction
Thinking Like an Economist
Supply and Demand
Competition and the Invisible Hand
Demand and Elasticity
Perfectly Competitive Supply
Efficiency, Exchange, and the Invisible Hand in Action
Market Imperfections
Monopoly, Oligopoly, and Monopolistic Competition
Games and Strategic Behavior
An Introduction to Behavioral Economics
Externalities and Property Rights
Economics of Public Policy
Using Economics to Make Better Policy Choices
International Trade
International Trade and Trade Policy