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The Microeconomy Today is noted for three great strengths: currency, policy focus, and readability. The accessible writing style engages students and brings the excitement of domestic and global economic news into the classroom.
Schiller/Gebhardt emphasizes how policymakers must choose between government intervention and market reliance to resolve the core issues of what, how, and for whom to produce. These strategic trade-offs are highlighted throughout the full range of micro, macro, and international issues, and every chapter ends with a policy issue that emphasizes the market versus government dilemma.
The authors teach economics in a current and relevant context, including the COVID Pandemic of 2020, filling chapters with the real facts and applications of economic life. Schiller/Gebhardt is also the only principles text that presents all macro theory in the single consistent context of the AS/AD framework and uniquely features a full supply-side economics chapter. You will also find the current Economist in Chief, Joe Biden, featured in the opening chapter.
The authors have worked to ensure The Microeconomy Today, 16th edition, is tightly integrated with the adaptive digital tools and dynamic interactive resources available in Connect. Connect is proven to increase student engagement and success. For professors there is also an updated instructor guide to bring new ideas to your course, no matter the format.
CHAPTER 1: ECONOMICS: THE CORE ISSUES
Appendix: Using Graphs
CHAPTER 2: THE U.S. ECONOMY: A GLOBAL VIEW
CHAPTER 3: SUPPLY AND DEMAND
CHAPTER 4: THE ROLE OF GOVERNMENT
PART 2: PRODUCT MARKETS: THE BASICS
CHAPTER 5: CONSUMER CHOICE
Appendix: Indifference Curves
CHAPTER 6: ELASTICITY
CHAPTER 7: THE COSTS OF PRODUCTION
PART 3: MARKET STRUCTURE
CHAPTER 8: THE COMPETITIVE FIRM
CHAPTER 9: COMPETITIVE MARKETS
CHAPTER 10: MONOPOLY
CHAPTER 11: OLIGOPOLY
CHAPTER 12: MONOPOLISTIC COMPETITION
PART 4: REGULATORY ISSUES
CHAPTER 13: NATURAL MONOPOLIES: (DE)REGULATION?
CHAPTER 14: ENVIRONMENTAL PROTECTION
CHAPTER 15: THE FARM PROBLEM
PART 5: FACTOR MARKETS: BASIC THEORY
CHAPTER 16: THE LABOR MARKET
CHAPTER 17: LABOR UNIONS
CHAPTER 18: FINANCIAL MARKETS
PART 6: DISTRIBUTIONAL ISSUES
CHAPTER 19: TAXES: EQUITY VERSUS EFFICIENCY
CHAPTER 20: TRANSFER PAYMENTS: WELFARE AND SOCIAL SECURITY
PART 7: INTERNATIONAL ECONOMICS
CHAPTER 21: INTERNATIONAL TRADE
CHAPTER 22: INTERNATIONAL FINANCE
CHAPTER 23: GLOBAL POVERTY
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