Principles of microeconomics

In writing this textbook, Mankiw has tried to put himself in the position of someone seeing economics for the first time. The author's conversational writing style is superb for presenting the politics and science of economic theories to tomorrow's decision-makers. Because Mankiw wrote it for the students, the book stands out among all other principle texts by intriguing students to apply an economic way of thinking in their daily lives. Receiving such a praise as "perhaps the best ever" textbook in economic principles, it's no wonder Mankiw's prize project has quickly become one of the most successful books ever to be published in the college marketplace. Cover......Page 1 1. Ten principles of economics......Page 2 2. Thinking like an economist......Page 18 3. Interdependence and the gains from trade......Page 46 4. The market forces of supply and demand......Page 62 5. Elasticity and its application......Page 90 6. Supply, demand, and government policies......Page 114 7. Consumers, producers, and the efficiency of markets......Page 136 8. Application: The costs of taxation......Page 156 9. Application: International trade......Page 174 10. Externalities......Page 198 11. Public goods and common resources......Page 218 12. The design of the tax system......Page 236 13. The costs of production......Page 260 14. Firms in competitive markets......Page 282 15. Monopoly......Page 306 16. Oligopoly......Page 340 17. Monopolistic competition......Page 368 18. The markets for the factors of production......Page 386 19. Earnings and discrimination......Page 406 20. Income inequality and poverty......Page 426 21. The theory of consumer choice......Page 450 Glossary......Page 478