Description
Book SynopsisMicroeconomics and Behaviour, third edition, is an accessible yet intellectually challenging and engaging textbook for students.
It develops core analytical and technical tools and embeds them in a collection of real-world examples and applications to illuminate the power and versatility of the economic way of thinking.
With this approach, students develop economic intuition and are stimulated to think more deeply about the technical tools they learn, and to find more interesting ways to apply them. This enables students to not just understand microeconomics, but to think like economists themselves, and to develop a lasting interest in the discipline.
Key Features• Fully updated chapters, including new and expanded material on international labour markets, the gig economy,
behavioural game theory and nudge theory.
• Extensive pedagogical features such as examples, key terms and definitions, in-chapter exercises, chapter summaries,
and review questions and problems.
• Economic Naturalist examples that show how economic principles can be used to explain experiences and observations of everyday life. New examples include: “Why do firms benefit from the gig economy?”, “Why is self-checkout becoming the norm in shops?”, and “Why do online retailers have flagship stores?”.
Connect® ResourcesAvailable with McGraw-Hill Education’s Connect®, the well-established online learning platform, which helps faculty and institutions improve student outcomes and course delivery efficiency. In addition to math's tutorials and SmartBook, the award winning adaptive reading experience, the new Connect® features for this edition include:
• Economic Application Based Activities that provide students with valuable practice, using problem solving skills to apply their knowledge to realistic scenarios. Students progress from understanding basic concepts to using their knowledge to analyse complex scenarios and solve problems.
• Economic Naturalist graphing questions which have been newly developed to complement this key pedagogical feature from the textbook.
• Interactive Graphs that help students see the relevance of the subject matter by providing visual displays of real data for students to manipulate. All graphs are accompanied by assignable assessment questions and feedback for students.
NEW TO CONNECT FOR 2023In response to customer needs, 58 brand new Problems have been added to Connect to further develop students practical application skills and cement theoretical understanding.
To learn more, visit
mheducation.co.uk/connectTable of ContentsPART 1: Introduction
1 Thinking Like an Economist
2 Supply and Demand
3 Game Theory
PART 2: The Theory of Consumer Behaviour
4 Rational Consumer Choice
5 Individual and Market Demand
6 Applications of Rational Choice and Demand Theories
7 Choice under Uncertainty and the Economics of Information
8 Explaining Tastes: The Importance of Altruism and Other Non-Egoistic Behaviour
9 Cognitive Limitations and Consumer Behaviour
PART 3 : The Theory of the Firm and Market Structure
10 Production
11 Costs
12 Perfect Competition
13 Monopoly
14 Imperfect Competition
PART 4 : Factor Markets
15 Labour
16 Capital
PART 5 : Externalities, Public Goods and Welfare
17 General Equilibrium and Market Efficiency
18 Externalities, Property Rights and the Coase Theorem
19 Government
Index
