Microeconomics / / R. Glenn Hubbard, Anthony Patrick O'Brien

• Autore: Hubbard R. Glenn
• Pubblicazione: Boston : , : Pearson, , 2015
• Edizione: Fifth edition, Global edition.
• Descrizione fisica: 1 online resource (672 pages)
• Disciplina: 338.5
• Soggetto topico: Microeconomics
• Persona (resp. second.): Patrick O'BrienAnthony
• Note generali: Includes indexes.
• Nota di contenuto: Cover -- Title -- Copyright -- Detailed Contents -- Preface -- A Word of Thanks -- Part 1: Introduction -- Chapter 1: Economics: Foundations and Models -- Is the Private Doctor's Office Going to Disappear? -- 1.1 Three Key Economic Ideas -- People Are Rational -- People Respond to Economic Incentives -- Making the Connection: Does Health Insurance Give People an Incentive to Become Obese? -- Optimal Decisions Are Made at the Margin -- Solved Problem 1.1: A Doctor Makes a Decision at the Margin -- 1.2 The Economic Problem That Every Society Must Solve -- What Goods and Services Will Be Produced? -- How Will the Goods and Services Be Produced? -- Who Will Receive the Goods and Services Produced? -- Centrally Planned Economies versus Market Economies -- The Modern "Mixed" Economy -- Efficiency and Equity -- 1.3 Economic Models -- The Role of Assumptions in Economic Models -- Forming and Testing Hypotheses in Economic Models -- Positive and Normative Analysis -- Don't Let This Happen to You: Don't Confuse Positive Analysis with Normative Analysis -- Economics as a Social Science -- Making the Connection: Should Medical School Be Free? -- 1.4 Microeconomics and Macroeconomics -- 1.5 A Preview of Important Economic Terms -- Conclusion -- An Inside Look: Look Into Your Smartphone and Say "Ahh" -- *Chapter Summary and Problems -- Key Terms -- Summary -- Review Questions -- Problems and Applications -- Appendix: Using Graphs and Formulas -- Graphs of One Variable -- Graphs of Two Variables -- Slopes of Lines -- Taking into Account More Than Two Variables on a Graph -- Positive and Negative Relationships -- Determining Cause and Effect -- Are Graphs of Economic Relationships Always Straight Lines? -- Slopes of Nonlinear Curves -- Formulas -- Formula for a Percentage Change -- Formulas for the Areas of a Rectangle and a Triangle -- Summary of Using Formulas. ; Chapter 2: Trade-offs, Comparative Advantage, and the Market System -- Managers at Tesla Motors Face Trade-Offs -- 2.1 Production Possibilities Frontiers and Opportunity Costs -- Graphing the Production Possibilities Frontier -- Solved Problem 2.1: Drawing a Production Possibilities Frontier for Tesla Motors -- Increasing Marginal Opportunity Costs -- Economic Growth -- 2.2 Comparative Advantage and Trade -- Specialization and Gains from Trade -- Absolute Advantage versus Comparative Advantage -- Comparative Advantage and the Gains from Trade -- Don't Let This Happen to You: Don't Confuse Absolute Advantage and Comparative Advantage -- Solved Problem 2.2: Comparative Advantage and the Gains from Trade -- Making the Connection: Comparative Advantage, Opportunity Cost, and Housework -- 2.3 The Market System -- The Circular Flow of Income -- The Gains from Free Markets -- The Market Mechanism -- Making the Connection: A Story of the Market System in Action: How Do You Make an iPad? -- The Role of the Entrepreneur -- The Legal Basis of a Successful Market System -- Making the Connection: Who Owns The Wizard of Oz? -- Conclusion -- An Inside Look: What's on the Horizon at Mercedes-Benz? -- Chapter 3: Where Prices Come From: The Interaction of Demand and Supply -- Smartphones: The Indispensible Product? -- 3.1 The Demand Side of the Market -- Demand Schedules and Demand Curves -- The Law of Demand -- What Explains the Law of Demand? -- Holding Everything Else Constant: The Ceteris paribus Condition -- Variables That Shift Market Demand -- Making the Connection: Are Tablet Computers Substitutes for E-Readers? -- Making the Connection: Coke and Pepsi Are Hit by U.S. Demographics -- A Change in Demand versus a Change in Quantity Demanded -- Making the Connection: Forecasting the Demand for iPhones -- 3.2 The Supply Side of the Market. ; Supply Schedules and Supply Curves -- The Law of Supply -- Variables That Shift Market Supply -- A Change in Supply versus a Change in Quantity Supplied -- 3.3 Market Equilibrium: Putting Demand and Supply Together -- How Markets Eliminate Surpluses and Shortages -- Demand and Supply Both Count -- Solved Problem 3.3: Demand and Supply Both Count: A Tale of Two Letters -- 3.4 The Effect of Demand and Supply Shifts on Equilibrium -- The Effect of Shifts in Supply on Equilibrium -- Making the Connection: The Falling Price of Blu-ray Players -- The Effect of Shifts in Demand on Equilibrium -- The Effect of Shifts in Demand and Supply over Time -- Solved Problem 3.4: What Has Caused the Decline in Beef Consumption? -- Shifts in a Curve versus Movements along a Curve -- Don't Let This Happen to You: Remember: A Change in a Good's Price Does Not Cause the Demand or Supply Curve to Shift -- Conclusion -- An Inside Look: Google and Apple Face Supply and Demand Concerns in the Smartphone Market -- Chapter 4: Economic Efficiency, Government Price Setting, and Taxes -- The Sharing Economy, Phone Apps, and Rent Control -- 4.1 Consumer Surplus and Producer Surplus -- Consumer Surplus -- Making the Connection: The Consumer Surplus from Broadband Internet Service -- Producer Surplus -- What Consumer Surplus and Producer Surplus Measure -- 4.2 The Efficiency of Competitive Markets -- Marginal Benefit Equals Marginal Cost in Competitive Equilibrium -- Economic Surplus -- Deadweight Loss -- Economic Surplus and Economic Efficiency -- 4.3 Government Intervention in the Market: Price Floors and Price Ceilings -- Price Floors: Government Policy in Agricultural Markets -- Making the Connection: Price Floors in Labor Markets: The Debate over Minimum Wage Policy -- Price Ceilings: Government Rent Control Policy in Housing Markets. ; Don't Let This Happen to You: Don't Confuse "Scarcity" with "Shortage" -- Black Markets and Peer-to-Peer Sites -- Solved Problem 4.3: What's the Economic Effect of a Black Market in Renting Apartments? -- The Results of Government Price Controls: Winners, Losers, and Inefficiency -- Positive and Normative Analysis of Price Ceilings and Price Floors -- 4.4 The Economic Impact of Taxes -- The Effect of Taxes on Economic Efficiency -- Tax Incidence: Who Actually Pays a Tax? -- Solved Problem 4.4: When Do Consumers Pay All of a Sales Tax Increase? -- Making the Connection: Is the Burden of the Social Security Tax Really Shared Equally between Workers and Firms? -- Conclusion -- An Inside Look At Policy: Does the Sharing Economy Increase Efficiency? -- Appendix: Quantitative Demand and Supply Analysis -- Demand and Supply Equations -- Calculating Consumer Surplus and Producer Surplus -- Part 2: Markets in Action: Policy and Applications -- Chapter 5: Externalities, Environmental Policy, and Public Goods -- Can Economic Policy Help Protect the Environment? -- 5.1 Externalities and Economic Efficiency -- The Effect of Externalities -- Externalities and Market Failure -- What Causes Externalities? -- 5.2 Private Solutions to Externalities: The Coase Theorem -- The Economically Efficient Level of Pollution Reduction -- Making the Connection: The Clean Air Act: How a Government Policy Reduced Infant Mortality -- The Basis for Private Solutions to Externalities -- Don't Let This Happen to You: Remember That It's the Net Benefit That Counts -- Making the Connection: The Fable of the Bees -- Do Property Rights Matter? -- The Problem of Transactions Costs -- The Coase Theorem -- 5.3 Government Policies to Deal with Externalities -- Making the Connection: Should the Government Tax Cigarettes and Soda?. ; Solved Problem 5.3: Dealing with the Externalities of Car Driving -- Command-and-Control versus Market-Based Approaches -- The End of the Sulfur Dioxide Cap-and-Trade System -- Are Tradable Emission Allowances Licenses to Pollute? -- Making the Connection: Can a Carbon Tax Reduce Global Warming? -- 5.4 Four Categories of Goods -- The Demand for a Public Good -- The Optimal Quantity of a Public Good -- Solved Problem 5.4: Determining the Optimal Level of Public Goods -- Common Resources -- Conclusion -- Chapter 6: Elasticity: The Responsiveness of Demand and Supply -- Do People Respond to Changes in the Price of Gasoline? -- 6.1 The Price Elasticity of Demand and Its Measurement -- Measuring the Price Elasticity of Demand -- Elastic Demand and Inelastic Demand -- An Example of Computing Price Elasticities -- The Midpoint Formula -- Solved Problem 6.1: Calculating the Price Elasticity of Demand -- When Demand Curves Intersect, the Flatter Curve Is More Elastic -- Polar Cases of Perfectly Elastic and Perfectly Inelastic Demand -- Don't Let This Happen to You: Don't Confuse Inelastic with Perfectly Inelastic -- 6.2 The Determinants of the Price Elasticity of Demand -- Availability of Close Substitutes -- Passage of Time -- Luxuries versus Necessities -- Definition of the Market -- Share of a Good in a Consumer's Budget -- Some Estimated Price Elasticities of Demand -- Making the Connection: The Price Elasticity of Demand for Breakfast Cereal -- 6.3 The Relationship between Price Elasticity of Demand and Total Revenue -- Elasticity and Revenue with a Linear Demand Curve -- Solved Problem 6.3: Price and Revenue Don't Always Move in the Same Direction -- Estimating Price Elasticity of Demand -- 6.4 Other Demand Elasticities -- Cross-Price Elasticity of Demand -- Income Elasticity of Demand. ; Making the Connection: Price Elasticity, Cross-Price Elasticity, and Income Elasticity in the Market for Alcoholic Beverages.
• Sommario/riassunto: For Principles of Microeconomics courses at two- and four-year colleges and universities Reveal the relevance of economics through real-world business examples One of the challenges of teaching Principles of Microeconomics is fostering interest in concepts that may not seem applicable to students' lives. Microeconomics, Fifth Edition makes economics relevant by demonstrating how real businesses use economics to make decisions every day. Regardless of their future career path-opening an art studio, trading on Wall Street, or bartending at the local pub-students will benefit from understanding the economic forces behind their work. This program provides a better teaching and learning experience-for you and your students. It will help you to: Personalize learning with MyEconLab: This online homework, tutorial, and assessment program fosters learning and provides tools that help instructors to keep students on track. Show students how economics is relevant: Relatable features ground course material in the real world, showing students how these ideas are relevant and facilitating understanding. Foster thorough understanding via a flexible, student-focused approach: An engaging, captivating writing style and student-friendly learning aids motivate and engage students. Please note that the product you are purchasing does not include MyEconLab. MyEconLab Join over 11 million students benefiting from Pearson MyLabs. This title can be supported by MyEconLab, an online homework and tutorial system designed to test and build your understanding. Would you like to use the power of MyEconLab to accelerate your learning? You need both an access card and a course ID to access MyEconLab. These are the steps you need to take: 1. Make sure that your lecturer is already using the system Ask your lecturer before; purchasing a MyLab product as you will need a course ID from them before you can gain access to the system. 2. Check whether an access card has been included with the book at a reduced cost If it has, it will be on the inside back cover of the book. 3. If you have a course ID but no access code, you can benefit from MyEconLab at a reduced price by purchasing a pack containing a copy of the book and an access code for MyEconLab (ISBN:9781292059785) 4. If your lecturer is using the MyLab and you would like to purchase the product... Go to www.myeconlab.com to buy access to this interactive study programme. For educator access, contact your Pearson representative. To find out who your Pearson representative is, visit www.pearsoned.co.uk/replocator.
• Titolo autorizzato: Microeconomics
• ISBN: 1-292-07236-9
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910154779503321
• Lo trovi qui: Univ. Federico II
• Serie: Pearson series in economics.