Request for consultation

Thanks for your request. You’ll soon be chatting with a consultant to get the answers you need.
{{formPostErrorMessage.message}} [{{formPostErrorMessage.code}}]
First Name is required. 'First Name' must contain at least 0 characters 'First Name' cannot exceed 0 characters Please enter a valid First Name
Last Name is required. 'Last Name' must contain at least 0 characters 'Last Name' cannot exceed 0 characters Please enter a valid Last Name
Institution is required.
Discipline is required.
Why are you contacting us today? is required. 'Why are you contacting us today?' must contain at least 0 characters 'Why are you contacting us today?' cannot exceed 0 characters Please enter a valid Why are you contacting us today?

Microeconomics: Principles and Policy 12th Edition

William J. Baumol, Alan S. Blinder

  • Published
  • Previous Editions 2011, 2009, 2008
  • 450 Pages
Starting At 145.00 See pricing and ISBN options


MICROECONOMICS: PRINCIPLES AND POLICY, Twelfth Edition, takes a policy-based approach to the teaching of introductory microeconomics. Written by two of the most respected economists in the world, this text is also one of the most current texts on the market that includes data through the spring of 2011. The text includes significant updates based on the current economic crisis, providing the right level of rigor and detail.

William J. Baumol, New York University

William J. Baumol received his B.S.S. at the College of the City of New York and his Ph.D. at the University of London. He is professor of economics at New York University and senior research economist and professor emeritus at Princeton University. He is a frequent management consultant to major firms in a wide variety of industries in the United States and other countries as well as to a number of governmental agencies. He has been president of the American Economic Association, and three other professional societies. He is an elected member of the National Academy of Sciences, created by the U.S. Congress, and a member of the American Philosophical Society, founded by Benjamin Franklin. Dr. Baumol is the author of more than 35 books as well as hundreds of journal and newspaper articles that have been translated into more than a dozen languages.

Alan S. Blinder, Princeton University

Alan S. Blinder earned his B.A. at Princeton University, his M.A. at the London School of Economics and Ph.D. at MIT. He teaches at Princeton University and is the author of the best seller, After the Music Stopped, about the financial crisis and its aftermath. Dr. Blinder served on President Clinton's first Council of Economic Advisers and then as vice chairman of the Federal Reserve Board, thereby playing a role in formulating both the fiscal and monetary policies of the 1990s. Dr. Blinder, now a regular columnist for THE WALL STREET JOURNAL, has written newspaper and magazine columns on economic policy for more than thirty years. He is a past Vice President and a Distinguished Fellow of the American Economic Association.
  • A discussion of behavioral economics is added to the text.
  • More material on health care costs and the health care reform bill is included.
  • The new edition is the only principles book to reflect 2010 year-end data.
  • New boxes are updated to reflect the changes in the economic environment that have occurred since the last edition.
  • The comprehensive online, interactive problem sets, analyses, tutorials, experiments, and critical-thinking exercises give students hands-on application without adding to instructors’ workload. Aplia requires students to take an active role in the learning process--helping them improve their economic understanding and relate to the economic concepts presented. Instructors can assign homework that is automatically graded and recorded.
  • Each chapter opens with a real-life economic puzzle or issue to launch the material covered in the chapter bringing economics into students’ everyday lives. This chapter-opening economic problem is revisited within the body of the chapter to illustrate how it can be addressed with the theoretical tools and concepts being presented.
  • This text includes special “Policy Debate” boxes to enliven the chapters as well encourage classroom discussion.
  • The “Ideas for Beyond the Final Exam” feature is introduced in Chapter 1, and then integrated throughout the text to reinforce important concepts for students.
  • Each chapter ends with a summary; key concepts and terms; and questions and problems for review to help student’s complete homework and prepare for exams.
1 What Is Economics?
2 The Economy: Myth and Reality.
3 The Fundamental Economic Problem: Scarcity and Choice.
4 Supply and Demand: An Initial Look.
5 Consumer Choice: Individual and Market Demand.
6 Demand and Elasticity.
7 Production, Inputs, and Cost: Building Blocks for Supply Analysis.
8 Output, Price, and Profit: The Importance of Marginal Analysis.
9 Securities, Business Finance, and the Economy: The Tail that Wags the Dog?
10 The Firm and the Industry under Perfect Competition.
11 Monopoly.
12 Between Competition and Monopoly.
13 Limiting Market Power: Regulation and Antitrust.
14 The Case for Free Markets: The Price System.
15 The Shortcomings of Free Markets.
16 The Market’s Prime Achievement: Innovation and Growth.
17 Externalities, the Environment, and Natural Resources.
18 Taxation and Resource Allocation.
19 Pricing the Factors of Production.
20 Labor and Entrepreneurship: The Human Inputs.
21 Poverty, Inequality, and Discrimination.
22 International Trade and Comparative Advantage.
CengageNOWv2 combines the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course in a digital world.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

Standalone Digital Access — Ultimate Value

Recommended and most popular

  • ISBN-10: 1133612571
  • ISBN-13: 9781133612575
  • Bookstore Wholesale Price $145.00
  • RETAIL $145.00

Digital Access + Print — Flexible Value

Recommended and most popular

  • ISBN-10: 1285260260
  • ISBN-13: 9781285260266
  • Bookstore Wholesale Price $262.50
  • RETAIL $349.95

Textbook Only Options

Traditional eBook and Print Options

{{collapseContainerClosed['detail_0'] ? 'Show More' : 'Show Less'}}

  • ISBN-10: 1133484042
  • ISBN-13: 9781133484042
  • STARTING AT $22.49

  • STARTING AT $43.49

  • ISBN-10: 0538453621
  • ISBN-13: 9780538453622
  • Bookstore Wholesale Price $206.25
  • RETAIL $274.95

“The text is very strong as is. It addresses topics at just the right level of depth/complexity for my students.”

“I continue to enjoy using the Baumol and Blinder text. My students find it clear, relevant and accessible.”

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.


Instructor's Companion Website

ISBN: 9781305397972
The Instructor Online Resource Website contains key supplements designed to aid instructors, including the Instructor's Manual, Test Bank (powered by Cognero®), and PowerPoint® lecture and exhibit slides. All supplements are updated to match revisions made to the text.

Cengage Learning Testing, powered by Cognero® Instant Access for Baumol's Microeconomics: Principles and Policy

ISBN: 9781305498525
Cengage Learning Testing, Powered by Cognero®, is a flexible online system that allows you to author, edit, and manage test bank content. You can create multiple test versions in an instant and deliver tests from your LMS in your classroom.