About this item
Highlights
- Microeconomics: Theory & Applications, 13th Edition teaches students how fundamental tools of analysis are used explain and predict market phenomena.
- Author(s): Edgar K Browning & Mark A Zupan
- 592 Pages
- Business + Money Management, Economics
Description
About the Book
"According to certain labor unions, traditional retailers, and community groups, Walmart imposes significant costs on society. Among the asserted costs are the destruction of jobs in competing stores, driving of employees toward public welfare systems by paying lower wages and providing limited health care coverage, and the fostering of urban sprawl. Arrayed against these claimed costs are the benefits generated by Walmart through the employment of a large number of workers (Walmart now is the largest private-sector employer in the United States) and the promotion of lower retail prices for consumers. How can one assess the validity of the claims made by Walmart's critics? Moreover, is the combined magnitude of costs associated with Walmart sizable enough to outweigh the benefits generated by the retailing giant? A thorough knowledge of microeconomics can help answer topical questions such as these and, more broadly, gives students an understanding of how markets operate and allows them to see the world through the eyes of an economist. Our intention with this edition of the text is to give students the fundamental tools of analysis and to show how the tools can be used to explain and predict market phenomena. To this end, we present basic microeconomic principles in a clear, thorough way, using numerous applications to illustrate the use of theory and to reinforce students' understanding of it. We believe that microeconomics is the most important course in the undergraduate economics curriculum. We also believe that understanding microeconomics provides an essential foundation to any bachelor's or master's degree business student. As a result, our text is written so that both economics and business students will learn microeconomic theory and how to use it correctly"--Book Synopsis
Microeconomics: Theory & Applications, 13th Edition teaches students how fundamental tools of analysis are used explain and predict market phenomena. Designed for both economics and business students, this thorough yet accessible textbook describes basic microeconomic principles using various applications to clarify complicated economic concepts and provides an essential foundation of microeconomics knowledge. Clear and engaging chapters discuss cutting-edge models and explore numerous real-world examples of microeconomic theory in action.
Comprehensive and topically relevant, this textbook offers greater coverage of input market analysis and applications than other texts on the subject. In-depth applications, such as consumer choice theory and noncompetitive market models, complement over 100 shorter applications that reinforce the graphical and logical techniques developed in the theory chapters. The authors' innovative use of relatable applications promotes student engagement and comprehension, and facilitates a case-based, active-learning approach. Discussion of globalization, ethics, sustainability, and other important contemporary themes helps students understand how economics impacts their lives in various, often unexpected ways.
