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Miller, Principles of Microeconomics, 1e is written on the premise that Microeconomics should fascinate. The book was written to read more like a non-fiction book than a traditional textbook, and uses engaging and sometimes irreverent examples to capture student interest. Miller 1e aims to introduce concepts clearly with a realistic world view, so students are able to reconcile economic theory with their immediate surroundings.
Uniquely, Miller 1e makes use of many original, fictional stories to explain and complement the material. The stories do not displace analysis of traditional microeconomic theory; they stimulate student interest and provide an intuitive introduction to numerous concepts.
Rather than implicitly assume that politicians always put the common good ahead of their own self-interests as most texts do, Miller 1e uses public choice theory to present a realistic view of politicians and their effect on economics.
In addition, while many texts ignore, or briefly cover, the important topic of Innovation, Miller 1e considers the powerful force of Innovation extensively in the text, addressing it in over half of the chapters, and creating an instant tie-in for today’s digital-age students.
PART ONE: INTRODUCTIONChapter 1: What is Microeconomics? PART TWO: THE MAGIC OF THE MARKETPLACEChapter 2: Introducing Supply and DemandChapter 3: Supply and Demand IntertwinedChapter 4: ElasticitiesChapter 5: Policy Analysis with Supply and DemandChapter 6: Wealth Creation and DestructionChapter 7: TradeChapter 8: CostsChapter 9: Perfect CompetitionPART THREE: IMPERFECT MARKETS/IMPERFECT GOVERNMENTSChapter 10: Challenge to Market Effectiveness 1: MonopoliesChapter 11: Challenge to Market Effectiveness 2: OligopoliesChapter 12: Government ImperfectionsChapter 13: Challenge to Market Effectiveness 3: Externalities and the EnvironmentChapter 14: Challenge to Market Effectiveness 4: Inadequate Property RightsChapter 15: Challenge to Market Effectiveness 5: Incomplete InformationChapter 16: Challenge to Market Effectiveness 6?: InequalityPART FOUR: ECONOMICS IS EVERYWHEREChapter 17: Economics is Everywhere