Microeconomics: Private & Public Choice
By James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
About your course materials
Teach students to apply microeconomics as Gwartney/Stroup/Sobel/Macpherson's MICROECONOMICS: PRIVATE AND PUBLIC CHOICE, 17E places more emphasis than similar texts on the role of entrepreneurship in a market economy and the importance of public choice analysis in understanding the political process. New coverage presents entrepreneurship as key to grasping how the competitive market uses innovations to improve living standards. Students also see how public choice analysis clarifies incentives and impacts political outcomes -- which, in turn, affect national income.
Introductory chapters cover basic microeconomic thinking and use the "invisible hand" metaphor to show how wealth is created. The authors integrate entrepreneurship, the dynamic process of competition and importance of contestable markets into standard models of firm behavior in different markets. Special features highlight economics of health care, earning differences between genders and the Great Suppression of 2020 related to the COVID-19 pandemic. MindTap resources further reinforce content.
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MindTap for Gwartney/Stroup/Sobel/Macpherson, Microeconomics: Private & Public Choice, 17th Edition is the digital learning solution that powers students from memorization to mastery. It gives you co…
MindTap for Gwartney/Stroup/Sobel/Macpherson's Microeconomics: Private and Public Choice, 1 term Instant Access
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About this product
Teach students to apply microeconomics as Gwartney/Stroup/Sobel/Macpherson's MICROECONOMICS: PRIVATE AND PUBLIC CHOICE, 17E places more emphasis than similar texts on the role of entrepreneurship in a market economy and the importance of public choice analysis in understanding the political process. New coverage presents entrepreneurship as key to grasping how the competitive market uses innovations to improve living standards. Students also see how public choice analysis clarifies incentives and impacts political outcomes -- which, in turn, affect national income.
Introductory chapters cover basic microeconomic thinking and use the "invisible hand" metaphor to show how wealth is created. The authors integrate entrepreneurship, the dynamic process of competition and importance of contestable markets into standard models of firm behavior in different markets. Special features highlight economics of health care, earning differences between genders and the Great Suppression of 2020 related to the COVID-19 pandemic. MindTap resources further reinforce content.
PRACTICAL APPROACH APPLIES ECONOMIC THEORY TO CURRENT ISSUES AND CONTROVERSIES. Students see the relevance of the theories they are learning as they apply what they learn directly to pertinent topics in the world around them. The importance of incentives and the economic way of thinking are stressed throughout this edition.
CONTENT EMPHASIZES THE DYNAMICS OF THE MARKET PROGRESS. In addition to the usual static analysis of demand, supply and price determination, the authors stress the dynamics of the market process. The presentation integrates the role of the entrepreneur and importance of innovative discoveries into the analysis. This adds a realistic perspective to the examination of how markets work.
CONTENT THROUGHOUT THIS EDITION HIGHLIGHTS UNIQUE ECONOMIC PERSPECTIVE TOWARD GOVERNMENT. This edition's public choice chapter emphasizes economic thinking regarding government. In addition, students view today’s government involvement and decisions from a unique economic perspective throughout the text. This integrated perspective uses the latest information as well as historic data.
HISTORICAL VIGNETTES HIGHLIGHT THE LIVES OF NOTABLE ECONOMISTS. This information-rich feature makes it possible for you to seamlessly emphasize the significance of economic history in your course presentation.
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