ECON: MICRO4 4th Edition

CHAPTER 10 MONOPOLISTIC COMPETITION AND OLIGOPOLY In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix INTRODUCTION Students have now been introduced to the polar cases of perfect competition and monopoly, but most firms in the economy are neither. This chapter examines two market structures—monopolistic

CHAPTER 11 RESOURCE MARKETS In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignment LEARNING OUTCOMES 11-1 Determine the profit-maximizing number of workers for a firm to hire. A producer demands another unit of a resource as long as its marginal revenue exceeds its

CHAPTER 12 LABOR MARKETS AND LABOR UNIONS In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION The first part of this chapter consists of a careful discussion of the individual labor supply curve with emphasis on the income and substitution effects of

CHAPTER 13 CAPITAL, INTEREST, ENTREPRENEURSHIP, AND CORPORATE FINANCE In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION This chapter adds investment and corporate finance considerations to the theory of firm behavior and resource allocation. The first two thirds of the chapter describes in

CHAPTER 14 TRANSACTION COSTS, IMPERFECT INFORMATION, AND BEHAVIORAL ECONOMICS In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION The theories of the firm and market behavior introduced earlier are expanded here to include transaction costs and imperfect information. The first half of the

CHAPTER 15 ECONOMIC REGULATION AND ANTITRUST POLICY In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION This chapter examines the role of government intervention in a market economy. Perhaps the most fundamental issue in this chapter is the rationale for government intervention

CHAPTER 16 PUBLIC GOODS AND PUBLIC CHOICE In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION This chapter compares and contrasts the characteristics of public goods and private goods; it also reviews the role of government in the optimal provision of public

CHAPTER 17 EXTERNALITIES AND THE ENVIRONMENT In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION A large portion of this chapter is devoted to problems of resource allocation when property rights are absent. The result is that such resources tend to be

CHAPTER 18 INCOME DISTRIBUTION AND POVERTY In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION This chapter examines the distribution of income, the incidence of poverty over time by demographic group, poverty programs, discrimination, and welfare reform. The chapter is packed with

CHAPTER 19 INTERNATIONAL TRADE In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION The first half of this chapter considers comparative advantage and the gains from international trade. Once the gains from trade are discussed, the second half of the chapter examines

CHAPTER 20 INTERNATIONAL FINANCE In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION This chapter examines the workings of the foreign exchange market, starting with a discussion of the balance of payments mechanism. After covering the various trade balance concepts on current

CHAPTER 21 ECONOMIC DEVELOPMENT In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignment INTRODUCTION This chapter examines differences between developing and industrial economies. After comparing conditions across nations such as health and nutrition, birth rates, and the role of women, as well as

CHAPTER 5 ELASTICITY OF DEMAND AND SUPPLY In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION The ability to calculate and comprehend the concept of elasticity is important to both businesses engaged in price setting and government officials involved in policy making.

CHAPTER 6 CONSUMER CHOICE AND DEMAND In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION This chapter examines the underpinnings of demand, using utility analysis to explore the relationship between price and quantity demanded. Total and marginal utility are employed to show

CHAPTER 7 PRODUCTION AND COST IN THE FIRM In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignments INTRODUCTION This chapter describes key characteristics governing how firms operate in the short run and the long run. Perhaps the most important concepts in the chapter

CHAPTER 8 PERFECT COMPETITION In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignment INTRODUCTION This chapter introduces the benchmark market structure—perfect competition—and then looks at profit maximization for the perfectly competitive firm in the short run and in the long run. Perfectly competitive firms

CHAPTER 9 MONOPOLY In this chapter, you will find: Learning Outcomes Chapter Outline with PowerPoint Script Chapter Summary Teaching Points (as on Prep Card) Solutions to Problems Appendix Experiential Assignment INTRODUCTION In the previous chapter, the assumptions, logic, and implications of perfect competition were covered. This chapter examines monopoly by contrasting it with pure competition. Perhaps the most important distinction is that