Microeconomics

For the two-semester principles of economics course. An intuitive and grounded approach to economics Get students to think like an Economist using the latest policy and data while incorporating global issues. Microeconomics, Twelfth Edition builds on the foundation of the previous edition and retains a thorough and careful presentation of the principles of economics. Microeconomics emphasizes real-world applications, the development of critical thinking skills, diagrams renowned for pedagogy and clarity, and path-breaking technology. Each chapter opens with one of today's central issues an.

Includes index.

Cover -- Title Page -- Copyright Page -- ABOUT THE AUTHOR -- PREFACE -- Acknowledgments -- Contents -- PART ONE: INTRODUCTION -- CHAPTER 1 WHAT IS ECONOMICS? -- Definition of Economics -- Two Big Economic Questions -- What, How, and For Whom? -- Do Choices Made in the Pursuit of Self-Interest also Promote the Social Interest? -- The Economic Way of Thinking -- A Choice Is a Tradeoff -- Making a Rational Choice -- Benefit: What You Gain -- Cost: What You Must Give Up -- How Much? Choosing at the Margin -- Choices Respond to Incentives -- Economics as Social Science and Policy Tool

Economist as Social Scientist -- Economist as Policy Adviser -- APPENDIX: Graphs in Economics -- Graphing Data -- Scatter Diagrams -- Graphs Used in Economic Models -- Variables That Move in the Same Direction -- Variables That Move in Opposite Directions -- Variables That Have a Maximum or a Minimum -- Variables That Are Unrelated -- The Slope of a Relationship -- The Slope of a Straight Line -- The Slope of a Curved Line -- Graphing Relationships Among More Than Two Variables -- Ceteris Paribus -- When Other Things Change -- MATHEMATICAL NOTE: Equations of Straight Lines -- AT ISSUE

ECONOMICS IN THE N…