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PRINTED BOOKS
Author Olney, Martha L.

Title Microeconomics as a second language / by Martha L. Olney.

Published Hoboken, N.J. : Wiley ; Chichester : John Wiley [distributor], 2009.

Copies

Location Call No. Status
 UniM Store QA  22442    AVAILABLE
Physical description xiii, 157 pages : illustrations ; 24 cm
Notes Includes index.
Formerly CIP. Uk.
Contents 1 Economics Tools: Math and Graphing 1 -- Introduction to Economics 2 -- Economic Models 3 -- Mathematical Tools 4 -- Graphing 6 -- 2 Production Possibilities Frontier, Economic Growth, and Gains from Trade 17 -- Production Possibilities Frontier 18 -- Economic Growth 23 -- Gains from Trade 24 -- 3 Demand and Supply 31 -- Overview of Model of Demand and Supply 32 -- Demand 33 -- Supply 36 -- Equilibrium 40 -- 4 Extensions of the Demand and Supply Model 45 -- Price Floors and Price Ceilings 46 -- Excise Taxes 48 -- Consumer and Producer Surplus 53 -- Deadweight Loss of a Tax 57 -- 5 Consumer Theory 59 -- Utility Maximization 60 -- Budget Constraint 65 -- Indifference Curves 68 -- Consumer Equilibrium and the Demand Curve 71 -- Income and Substitution Effects 74 -- 6 Perfectly Competitive Firms 75 -- Production and Profit Maximization 76 -- Product Curves, Cost Curves, and Profit Maximization 77 -- Long-Run Average Cost 81 -- Maximizing Profit 83 -- Types of Industries 83 -- Profit 86 -- Shut Down or Produce? 88 -- In the Long Run, Economic Profit Equals Zero 89 -- 7 Imperfect Competition 92 -- Monopoly 93 -- Monopolistic Competition 98 -- Oligopoly 101 -- 8 Market Failure: Externalities and Public Goods 107 -- Externalities 108 -- A Graphical Approach: Negative Externality 109 -- A Graphical Approach: Positive Externality 111 -- Avoiding Government Intervention: The Coase Theorem 112 -- Public Goods 113 -- 9 Factor Markets 118 -- Labor Markets 119 -- Labor Supply 119 -- Labor Demand 121 -- Labor Market Equilibrium 124 -- Misuse of the Labor Market Model 127 -- Land Markets 128 -- Markets for Physical Capital 129 -- Answers to "TRY" Questions 133.
Summary Whether you're a student taking your first microeconomics class or a seasoned professional on the job, this concise guide will get you up to speed fast! It presents a complete review of the language, concepts, assumptions, and models essential to an overall understanding of microeconomics. Just what you need for a quick reference or study tool.
Subject Microeconomics.
Microeconomics -- Terminology.
Variant Title Microeconomics : as a second language.
ISBN 9780470433737 (paperback)
0470433736 (paperback)