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Microeconomics 12th Edition

Roger A. Arnold

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Overview

The economy is tough -- but economics doesn't have to be. Let Roger Arnold's MICROECONOMICS, 12th Edition open up the world of economic analysis for your students. Detailed coverage of the financial and economic crisis equips students with a thorough understanding of contemporary microeconomics. Memorable examples from pop culture capture student interest by illustrating the unexpected places microeconomics occur. Students see how economic forces link to everyday events and form an important part of life. Digital assets include video lectures, videos that demonstrate key concepts in graphing, and an adaptive test prep tool. Integrated digital and course management options include Aplia and MindTap®.

Roger A. Arnold, California State University, San Marcos

Dr. Roger A. Arnold is Professor of Economics at California State University San Marcos, where his fields of specialization include general microeconomic theory and monetary theory. A widely respected authority on economic issues, Dr. Arnold is a regularly featured expert on talk radio discussing the state of the economy. He is also a proven author who has published numerous academic articles, hundreds of newspaper columns, as well as the popular ECONOMICS: NEW WAYS OF THINKING and principles of economics supplemental text, HOW TO THINK LIKE AN ECONOMIST. Dr. Arnold earned a B.S. in Economics from the University of Birmingham in England and received his M.A. and his Ph.D. degrees from Virginia Tech.

MindTap® is the digital learning solution that powers students from memorization to mastery. It gives you complete control of your course—to provide engaging content, to challenge every individual, and to build their confidence. Empower students to accelerate their progress with MindTap.

Developed by teachers, Aplia assignments connect concepts to the real world and focus on the unique course challenges facing students. In the last 15 years, more than two billion answers have been submitted through Aplia, representing millions of students who have come to class more engaged and better prepared.

  • LEADING Aplia DIGITAL MANAGEMENT SYSTEM ENCOURAGES INTERACTIVE LEARNING. Aplia offers comprehensive interactive microeconomic problem sets, analyses, tutorials, experiments and critical thinking exercises that require students to take an active role in the learning process. Based on discovery learning, the system helps students improve their understanding of microeconomics without creating extra work for you, the instructor. The system automatically grades and records homework and works with any learning management system.
  • VIRTUALLY ENDLESS CUSTOMIZATION CHOICES OFFER ULTIMATE TEACHING FLEXIBILITY. Chapters can be rearranged, online chapters can be customized in print, and you have the option to add any topic, including your own research and notes, or specialized topics drawn from the Cengage Economics Issues database. Aplia's™ customization is fully integrated, giving your students hands-on application opportunities without adding to your workload.
  • VIDEO OFFICE HOURS FROM AUTHOR WALK STUDENTS THROUGH KEY CONCEPTS AND GRAPHS FOR EACH CHAPTER. Using innovative video and whiteboard technology, the author provides both short digital concept pieces and longer digital lectures for each chapter. He clearly presents key microeconomic concepts just as he does in his own classes, using a whiteboard for lecture points and demonstrating graphs. Students can play and replay the lectures as often as needed to review concepts.
  • OFFICE HOURS ANSWER TYPICAL QUESTIONS STUDENTS ASK AFTER CLASS. This helpful, unique feature explores key concepts, such as how the money supply works, the purpose of the PPF, whether price ceilings are really good or bad for consumers, and the purpose of the AD/AS framework. Students will find meaningful answers to many of their most commonly asked questions.
  • ECONOMICS 24/7 FEATURE ILLUSTRATES THE PRACTICAL RELEVANCE OF KEY MICROECONOMIC CONCEPTS. This helpful feature explores numerous timely issues that can be explained through economic analysis. For example, students examine why people specialize and trade, whether or not a tax on soda will help reduce obesity, why states may ban real estate commission rebates and whether a tax rebate or tax bonus is better. Economics 24/7 teaches readers to look for microeconomic forces at work--and understand the principles behind those forces.

Microeconomics

TABLE OF CONTENTS

AN INTRODUCTION TO ECONOMICS.
Part I: ECONOMICS: THE SCIENCE OF SCARCITY.
1. What Economics Is About.
Appendix A Working with Diagrams.
Appendix B Should You Major in Economics?
2. Production Possibilities Frontier Framework.
3. Supply and Demand: Theory.
4. Prices: Free, Controlled, and Relative.
5. Supply, Demand, and Price: Applications.
MICROECONOMICS.
Part II: MICROECONOMIC FUNDAMENTALS.
6. Elasticity.
7. Consumer Choice: Maximizing Utility and Behavioral Economics.
Appendix C Budget Constraint and Indifference Curve Analysis.
8. Production and Costs.
Part III: PRODUCT MARKETS AND POLICIES.
9. Perfect Competition.
10. Monopoly.
11. Monopolistic Competition, Oligopoly, and Game Theory.
12. Government and Product Markets: Antitrust and Regulation.
Part IV: FACTOR MARKETS AND RELATED ISSUES.
13. Factor Markets: With Emphasis on the Labor Market.
14. Wages, Union, and Labor.
15. The Distribution of Income and Poverty.
16. Interest, Rent, and Profit.
Part V: MARKET FAILURE, PUBLIC CHOICE, AND SPECIAL-INTEREST-GROUP POLITICS.
17. Market Failure: Externalities, Public Goods, and Asymmetric Information.
18. Public Choice and Special-Interest-Group Politics.
Part VI: ECONOMICS THEORY-BUILDING AND EVERYDAY LIFE.
19. Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions.
THE GLOBAL ECONOMY.
Part VII: INTERNATIONAL ECONOMICS AND GLOBALIZATION.
20. International Trade.
21. International Finance.
WEB CHAPTERS.
22. The Economic Case For and Against Government: Five Topics Considered.
23. Stocks, Bonds, Futures, and Options.
24. Agriculture: Problems, Policies, and Unintended Effects.

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.

FOR INSTRUCTORS

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ISBN: 9781305493216
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