Microeconomics

Part1 Basic Concept




1.The Central Concepts of Economics

? Appendix 1

2. The Modern Mixed Economy

3. Basic Elements of Supply and Demand

? Appendix 3




Part 2 Microeconomics: Supply, Demand, and Product Markets



4. Supply and Demand: Elasticity and Applications

5. Demand and Consumer Behavior

? Appendix 5

6. Production and Business Organization

7. Analysis and Costs

? Appendix 7

8. Analysis of Perfectly Competitive Markets

9. Imperfect Competition and Monopoly

10. Competition Among the Few

11. Economics of Uncertainty



Part 3 Factor Markets: Labor, Land, and Capital



12. How Markets Determine Incomes

13. The Labor Market

14. Land, Natural Resources, and the Environment

15. Capital, Interest, and Profits



Part 4 Applications of Economic Principles



16. Government Taxation and Expenditure

? Appendix 16

17. Efficiency vs. Equality: The Big Tradeoff

? Appendix 17

18. International Trade

? Appendix 18

Overview


Already established as a seminal textbook on microeconomics, the 20th edition of Microeconomics
continues to take the legacy forward with recent updates. This new edition presents the latest
thinking of modern economists and emphasizes the analytical core of economics with particular
attention to analysis of market economics. The text is designed to cover syllabi requirements of
graduates taking up microeconomics. To enrich the book further for its Indian readers, Indian
content has been added at relevant places to relate the concepts more specifically to the Indian
context.
This edition is a thoroughly updated version, and feedback from readers and academicians have
been incorporated.