Built to focus on what matters to students in today’s high-tech, globalized world, Dean Karlan and Jonathan Morduch’s Microeconomics represents a new generation of products, optimized for digital delivery and available with best-in-class adaptive study resources in McGraw-Hill Connect. The second edition delivers core economic concepts along with exciting new ideas in economic thought and strives to keep students engaged by confronting issues that are important in the world.
This text combines a familiar curriculum with material from new research and applied areas such as finance, behavioral economics, and the political economy. Students and faculty will find content that breaks down barriers between what takes place in the classroom and what happens in our nation and broader world, with applications that are driven by empirical evidence, data, and research.
Karlan and Morduch show students that economics is a tool to better one’s own life and promote better public and business policies in the world. At the same time, this second edition challenges students to reach their own conclusions about what “better” really means.
|Publisher:||McGraw-Hill Professional Publishing|
|Edition description:||New Edition|
|Product dimensions:||8.50(w) x 9.90(h) x 1.00(d)|
|Age Range:||18 Years|
About the Author
Dean Karlan is Professor of Economics and Finance at Northwestern Universityand President and Founder of Innovations for Poverty Action (IPA). Dean startedIPA in 2002 with two aims: to help learn what works and what does not in thefight against poverty and other social problems around the world, and then toimplement successful ideas at scale. IPA has worked in over 50 countries, with1,000 employees around the world. Dean’s personal research focuses on usingfield experiments to learn more about the effectiveness of financial servicesfor low-income households, with a focus on using behavioral economicsapproaches to improve financial products and services. His research includesrelated areas, such as building income for those in extreme poverty, charitablefund-raising, voting, health, and education. Dean is also cofounder ofstickK.com, a start-up that helps people use commitment contracts to achievepersonal goals, such as losing weight or completing a problem set on time, andin 2015 he founded ImpactMatters, an organization that helps assess whethercharitable organizations are using and producing appropriate evidence ofimpact. Dean is a Sloan Foundation Research Fellow, a Guggenheim Fellow, and anExecutive Committee member of the Board of the M.I.T. Jameel Poverty ActionLab. In 2007 he was awarded a Presidential Early Career Award for Scientistsand Engineers. He is coeditor of the Journal of Development Economics andon the editorial board of American Economic Journal: Applied Economics. Heholds a BA from University of Virginia, an MPP and MBA from University ofChicago, and a PhD in Economics from MIT. In 2016 he coauthored Failing inthe Field, and in 2011 he coauthored More Than Good Intentions:Improving the Ways the World’s Poor Borrow, Save, Farm, Learn, and StayHealthy.
Jonathan Morduch is Professor of Public Policy and Economics at New York University’s Wagner Graduate School of Public Service. Jonathan focuses on innovations that expand the frontiers of finance and how financial markets shape economic growth and inequality. Jonathan has lived and worked in Asia, but his newest book, The Financial Diaries: How American Families Cope in a World of Uncertainty (written with Rachel Schneider and published by Princeton University Press, 2017), follows families in California, Mississippi, Ohio, Kentucky, and New York as they cope with economic ups and downs over a year. The new work jumps off from ideas in Portfolios of the Poor: How the World’s Poor Live on $2 a Day (Princeton University Press, 2009), which Jonathan coauthored and which describes how families in Bangladesh, India, and South Africa devise ways to make it through a year living on $2 a day or less. Jonathan’s research on financial markets is collected in The Economics of Micro-finance and Banking the World, both published by MIT Press. At NYU, Jonathan is executive director of the Financial Access Initiative, a center that supports research on extending access to finance in low-income communities. Jonathan’s ideas have also shaped policy through work with the United Nations, World Bank, and other international organizations. In 2009, the Free University of Brussels awarded Jonathan an honorary doctorate to recognize his work on micro-finance. He holds a BA from Brown and a PhD from Harvard, both in Economics.
Table of ContentsThinking Like an Economist
PART 1 The Power of Economics
1 Economics and Life
2 Specialization and Exchange
PART 2 Supply and Demand
6 Government Intervention
Microeconomics: Thinking Like a Microeconomist
PART 3 Individual Decisions
7 Consumer Behavior
8 Behavioral Economics: A Closer Look at Decision Making
9 Game theory and Strategic Thinking
11 Time and Uncertainty
PART 4 Firm Decisions
12 The Costs of Production
13 Perfect Competition
15 Monopolistic Competition and Oligopoly
16 The Factors of Production
17 International Trade
PART 5 Public Economics
19 Public Goods and Common Resources
20 Taxation and the Public Budget
21 Poverty, Inequality, and Discrimination
22 Political Choices
23 Public Policy and Choice Architecture