Publisher's Synopsis
This text has been written for someone coming to microeconomics for the first time. The book presents the politics and science of microeconomic theories to tomorrow's decision-makers, and attempts to make students apply an economic way of thinking in their daily lives. Chapter 1 introduces students to the ten most important principles, which are then incorporated in discussions throughout the book. In Chapter 2 the discussion of circular flow is clarified. Other topics include: coverage of cross-price elasticity of demand - the discussion of midpoint formula for elasticity and elasticity along a linear demand curve; "What Causes the Labour Demand Curve to Shift?"; "The Supply of Labour"; and "Above Equilibrium Wages - Minimum Wage Laws, Unions, and Efficiency Wages." This title also includes a WebCT Guide and PIN code. WebCT online courses provide lecture notes and additional content tied directly to the text, along with self-tests, interactive activities, and net links. All this is directly customized by the lecturer to suit their individual course.
