ESCP Europe

"When it comes to explaining fundamental economic principles by drawing on current economic issues and events, there is no one more effective than Nobel laureate and New York Times columnist Paul Krugman and co-author, Robin Wells. In this best-selling introductory textbook, Krugman and Wells' signature storytelling style and uncanny eye for revealing examples help readers understand how economic concepts play out in our world. Microeconomics 5e provides unparalleled coverage of current topics, including sustainability, the economic impact of technology and pressing policy debates. A commitment to broadening students' understanding of the global economy; a global focus is woven throughout with more on the ascendance of China's economy, the Euro and events in Europe (including Brexit), and post-recession economies around the globe." - from publisher.

Preface --- PART 1. WHAT IS ECONOMICS? --- Introduction. An engine for growth and discovery --- Chapter 1. First principles --- Chapter 2. Economic models: trade-offs and trade --- Appendix. Graphs in economics --- PART 2. SUPPLY AND DEMAND --- Chapter 3. Supply and demand --- Chapter 4. Consumer and producer surplus --- Chapter 5. Price controls and quotas: meddling with markets --- Chapter 6. Elasticity --- PART 3. INDIVIDUALS AND MARKETS --- Chapter 7. Taxes --- Chapter 8. International trade --- PART 4. ECONOMICS AND DECISION MAKING --- Chapter 9. Decision making by individuals and firms --- Appendix: How to make decisions involving time: understanding present value --- PART 5. THE CONSUMER --- Chapter 10. The rational consumer --- Appendix. Consumer preferences and consumer choice --- PART 6. THE PRODUCTION DECISION --- Chapter 11. Behind the supply curve: inputs and costs --- Chapter 12. Perfect competition and the supply curve --- PART 7. MARKET STRUCTURE: BEYOND PERFECT COMPETITION --- Chapter 13. Monopoly --- Chapter 14. Oligopoly --- Chapter 15. Monopolistic competition and product differentiation --- PART 8. MICROECONOMICS AND PUBLIC POLICY --- Chapter 16. Externalities --- Chapter 17. Public goods and common resources --- Chapter 18. The economics of the welfare state --- PART 9. FACTOR MARKETS AND RISK --- Chapter 19. Factor markets and the distribution of income --- Appendix. Indifference curve analysis of labor supply --- Chapter 20. Uncertainty, risk, and private information --- Solutions to Check your understanding questions Glossary --- Index..