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This is the UK and European version of Harvard professor Greg Mankiw's best-selling and highly regarded US economics text, Microeconomics. Professor Mankiw's classic text has been adapted and developed by a leading European economist, Professor Mark Taylor of Warwick University. Features that made the US text so successful with students and lecturers will continue to add value to your learning experience. These include:
PART I: INTRODUCTION. 1. Ten Principles of Economics. 2. Thinking Like an Economist. 3. Interdependence and the Gains from Trade. PART II: SUPPLY AND DEMAND I: HOW MARKETS WORK. 4. The Market Forces of Supply and Demand. 5. Elasticity and its Application. 6. Supply, Demand, and Government Policies. PART III: SUPPLY AND DEMAND II: MARKETS AND WELFARE. 7. Consumers, Producers, and the Efficiency of Markets. 8. Application: The Costs of Taxation. 9. Application: International Trade. PART IV: THE ECONOMICS OF THE PUBLIC SECTOR. 10. Externalities. 11. Public Goods and Common Resources. 12. The Design of the Tax System. PART V: FIRM BEHAVIOUR AND THE ORGANISATION OF INDUSTRY. 13. The Costs of Production. 14. Firms in Competitive Markets. 15. Monopoly. 16. Oligopoly. 17. Monopolistic Competition. PART VI: THE ECONOMICS OF LABOUR MARKETS. 18. The Markets for the Factors of Production. 19. Earnings and Discrimination. 20. Income Inequality and Poverty. PART VII: TOPICS FOR FURTHER STUDY. 21. The Theory of Consumer Choice. 22. Frontiers of Microeconomics.