Economics Today

Readers learn best when they see concepts applied to examples from their everyday lives. With an abundance of relentlessly current examples, Economics Today: The Micro View appeals to today's diverse population by presenting ideas clearly, at an accessible level, and in the context of newsworthy applications. Introduction: The Nature of Economics; Scarcity and the World of Trade-Offs; Demand and Supply; Extensions of Demand and Supply Analysis; Public Spending and Public Choice; Funding the Public Sector. Dimensions of Microeconomics: Demand and Supply Elasticity; Consumer Choice; Rents, Profits, and the Financial Environment of Business. Market Structure, Resource Allocation, and Regulation: The Firm: Cost and Output Determination; Perfect Competition; Monopoly; Monopolistic Competition; Oligopoly and Strategic Behavior; Regulation and Antitrust Policy in a Globalized Economy. Labor Resources and the Environment: The Labor Market: Demand, Supply, and Outsourcing; Unions and Labor Market Monopoly Power; Income, Poverty, and Health Care; Environmental Economics. Global Economics: Comparative Advantage and the Open Economy; Exchange Rates and the Balance of Payments. For all readers interested in microeconomics.