Microeconomics

Microeconomics: case studies and applications contains case studies that explore core microeconomics concepts by focusing on current events in economics and providing a theory refresher for each section and questions. Case studies differ from news articles in that they are written specifically for students at a level they can easily relate to, and are presented in such a way that the theoretical concept being taught can be applied. It's intended as a stepping stone into using authentic articles as they progress. Each case study presents a different application of a core concept or theory. The c.

Case study 3.4 Have globalisation and the expansion of international trade improved wellbeing?

Title page; Copyright page; Contents; Preface to the third edition; Acknowledgements; About the author; Introduction; Notes to the lecturer; SECTION 1 SCARCITY, DECISION MAKING, INCENTIVES AND TRADE: AN INTRODUCTION TO KEY CONCEPTS IN ECONOMICS; Case study 1.1 What did that really cost you?; Theory refresher: What is opportunity cost?; Case study 1.2 Opportunity cost and productivity in agriculture; Theory refresher: What is productivity?; Case study 1.3 The benefits and costs of a university degree; Theory refresher: Making an optimal decision.

Case study 1.4 How incentives make the world go roundTheory refresher: What are incentives?; Case study 1.5 Do incentives really matter: can economic policy change the timing of births and deaths?; Case study 1.6 How creating extra opportunities for trade can improve wellbeing: kidney exchange and ICT; Theory refresher: Trade and wellbeing; Case study 1.7 Are we always rational?; Theory refresher: What is rationality?; SECTION 2 DEMAND, SUPPLY AND EQUILIBRIUM IN COMPETITIVE MARKETS; Case study 2.1 What determines demand?; Theory refresher: Demand and supply.

Case study 2.2 Does equilibrium exist? Evidence from experimentsTheory refresher…