Acemoglu, Laibson, List: An evidence-based approach to economics.
Throughout Microeconomics, authors Daron Acemoglu, David Laibson, and John List use real economic questions and data to help students learn about the world around them.
Taking a fresh approach, the authors use the themes of optimization, equilibrium and empiricism to illustrate the power of simple economic ideas, and their ability to explain, predict, and improve what happens in the world. Each chapter begins with an empirical question that is later answered using data in the Evidence-Based Economics feature. As a result of the text’s practical emphasis, students will learn to apply economic principles to guide the decisions they make in their own lives.
Key Features
Teach economics through three unified themes
- 1. Optimization. The first principle — that people try to choose the best available option — is optimization.
- 2. Equilibrium. Economic systems tend toward equilibrium, wherein each economic actor feels that he or she cannot do any better by picking another course of action.
- 3. Empiricism. While the first two key principles are conceptual, the third is methodological.
Showcase empirical questions with engaging features.
- 1. Evidence-Based Economics (EBE) features show how economists use data to answer the question posed in the opening paragraph of each chapter.
- 2. Letting the Data Speak features reinforces the theme of evidence behind the theory.
- 3. Choice and Consequence features emphasize optimization — one of the key themes in the book — by focusing on making the best decision. These features ask students to make an economic decision, or evaluate the consequences of past real decisions.
Show the importance of microeconomic concepts in everyday life.
- 1. An integrated approach to consumption and production.
- 2. In-depth coverage of game theory that yields powerful insights.
- 3. An innovative suite that extends the microeconomic toolbox.
Contents
Part I. Introduction to Economics
- Chapter 1. The Principles and Practice of Economics
- Chapter 2. Economic Methods and Economic Questions
- Chapter 3. Optimization: Doing the Best You Can
- Chapter 4. Demand, Supply, and Equilibrium
Part II. Foundations of Microeconomics
- 5. Consumers and Incentives
- 6. Sellers and Incentives
- 7. Perfect Competition and the Invisible Hand
- 8. Trade
- 9. Externalities and Public Goods
- 10. The Government in the Economy: Taxation and Regulation
- 11. Markets for Factors of Production
Part III. Market Structure
- 12. Monopoly
- 13. Game Theory and Strategic Play
- 14. Oligopoly and Monopolistic Competition
Part IV. Extending the Microeconomic Toolbox
- 15. Trade-offs Involving Time and Risk
- 16. The Economics of Information
- 17. Auctions and Bargaining
- 18. Social Economics
- Web Chapter 1. Financial Decision Making
- Web Chapter 2. Economics of Life, Health, and the Environment
- Web Chapter 3. Political Economy
Book Details
- Paperback: 488 pages
- Publisher: Prentice Hall; 1 edition (©2015)
- Language: English
- ISBN-10: 0321391578
- ISBN-13: 978-0321391575
- Product Dimensions: 8.4 x 0.9 x 10.7 inches
- List Price: $236.40