Principles of microeconomics / N. Gregory Mankiw.

Includes bibliographical references and index.

Preface : To the Instructor -- Part I. Introduction. Chapter 1. Ten principles of economics -- Chapter 2. Thinking like an economist -- Chapter 3. Interdependence and the gains from trade -- Part II. How Markets Work. Chapter 4. The market forces of supply and demand -- Chapter 5. Elasticity and its application -- Chapter 6. Supply, demand, and government policies -- Part III. Markets and Welfare. Chapter 7. Consumers, producers, and the efficiency of markets -- Chapter 8. Application : The costs of taxation -- Chapter 9. Application : International trade -- Part IV. The Economics of the Public Sector. Chapter 10. Externalities -- Chapter 11. Public goods and common resources -- Chapter 12. The economics of healthcare -- Chapter 13. The design of the tax system -- Part V. Firm Behavior and the Organization of Industry. Chapter 14. The costs of production -- Chapter 15. Firms in competitive markets -- Chapter 16. Monopoly -- Chapter 17. Monopolistic competition -- Chapter 18. Oligopoly -- Part VI. The Economics of Labor Markets. Chapter 19. The markets for the factors of production -- Chapter 20. Earnings and discrimination -- Chapter 21. Income inequality and poverty -- Part VII. Topics for Further Study. Chapter 22. The theory of consumer choice -- Chapter 23. Frontiers of microeconomics -- Chapter 24. Appendix : How economists use data -- Glossary -- Index.

"My freshman course on the principles of economics opened my eyes to a new way of thinking. Economics combines the virtues of politics and science. It is, truly, a social science. Its subject matter is society -- how people choose to lead their lives and how they interact with one another -- but it approaches the subject with the dispassion of a science. By bringing the methods of science to the questions of politics, economics aims to make progress on the challenges that all societies face. I wrote this book with the hope that I could convey some of the excitement about economics that I felt as a student in my first economics course. Economics is a subject in which a little knowledge goes a long way. Economists have a unique world-view, much of which can be taught in one or two semesters. My goal in this book is to transmit this way of thinking to the widest possible audience and to convince readers that it illuminates much about their lives and the world around them. Economics aims to understand the world in which we live. Most chapters of this book include Case Studies that illustrate how the principles of economics can be applied. In the News boxes offer excerpts from newspapers, magazines, and online news sources to show how economic ideas shed light on current issues facing society. After students finish their first course in economics, they should think about news reports from a new perspective and with greater insight. To keep the study of economics fresh and relevant for each new cohort of students, I update each edition to keep pace with the ever-changing world."--adapted from Preface to the Instructor, page v.