Principles of Microeconomics 6th edition caters for a single semester introductory unit in Microeconomics. The latest edition of this text continues to focus on important concepts and analyses necessary for students in an introductory economics course. In keeping with the authors’ philosophy of showing students the power of economic tools and the importance of economic ideas, this edition pays careful attention to regional and global policies and economic issues, such as climate change and resource taxation.
- Prominent economists with extensive undergraduate teaching experience have written a student-friendly text that explains clearly and explores contemporary issues. Applications and policy appear alongside formal economic theory
- New, ground-up chapter on the GFC written by an Australian economist
- Chapter objectives define and reinforce content, while quick quizzes allow students to check their comprehension after they read each major section. Key concepts are listed at the end of the chapter and defined in the margin to help students grasp new terminology
- ‘Ten Lessons from Economics’ are outlined in chapter 1 and highlighted throughout the text to remind students that these lessons are the key to most economic analysis
- End-of-chapter Summaries, Questions for Review as well as Problems and Applications to reinforce chapter content and encourage critical thinking
- Current cases provide practical illustrations of important concepts.
- ‘In the News’ boxes contain recent news articles that show students how economic ideas shed light on current affairs and provide opportunity for policy analysis
- ‘FYI’ boxes present additional material designed to enhance the concepts covered in each chapter.
- Aplia, developed by Paul Romer specifically for economics students, accompanies this text allowing students to practise, revise and see the bigger picture as they do homework and assignments
- CourseMate provides additional practice, a study guide, videos, games, and a graphing tool
New to Edition:
- “What do Australian Economists think about...” using data from ESA related to current or recent policy issues
- Margin icons will be used to integrate text more tightly with the technology
About the Authors:
Joshua Gans holds the Skoll Chair in Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto. He studied economics at the University of Queensland and Stanford University. He currently teaches network and digital market strategy. Professor Gans’s research ranges over many fields of economics including economic growth, game theory, regulation and the economics of technological change and innovation. His work has been published in academic journals including the American Economic Review, Journal of Economic Perspectives, Journal of Political Economy and the Rand Journal of Economics. Joshua also has written the popular book, Parentonomics (published by MIT Press) and founded the Core Economics blog(economics.com.au). Currently, he is an associate editor at Management Science and the Journal of Industrial Economics. He has also undertaken consulting activities (through his consulting firm, CoRE Research), advising governments and private firms on the impact of microeconomic reform and competition policy in Australia. In 2007, he was awarded the Economic Society of Australia’s Young Economist Award for the Australian economist under 40 who has made the most significant contribution to economic knowledge. In 2008, he was elected as a Fellow of the Academy of Social Sciences Australia. Professor Gans lives in Toronto with his spouse and three children.
Stephen King, Ph.D.
Stephen King is Professor of Economics at Monash University and a Member of the Economic Regulation Authority of Western Australia. After several years as Dean of the Business Faculty, Stephen has returned to the classroom and is once again teaching first year students. Prior to joining Monash, Stephen was a Commissioner at the Australian Competition and Consumer Commission. Stephen completed his economics degree at the Australian National University, and his PhD at Harvard University in 1991. Stephen has taught a variety of courses, including introductory courses at Harvard University and the University of Melbourne. Stephen specialises in industrial economics, although his research has covered a wide range of areas, including game theory, corporate finance, privatisation and tax policy. His work has been published in academic journals such as the Journal of Industrial Economics, European Economic Review and Journal of Political Economy. Stephen regularly provides advice to both government and private firms on a range of issues relating to regulation and competition policy. He is a Lay Member of the High Court of New Zealand and a Fellow of the Academy of Social Sciences in Australia.
Martin Byford teaches Microeconomic Theory, Industrial Organisation and Game Theory at RMIT. He studied Engineering at University of Melbourne, and Economics at La Trobe University, before returning to University of Melbourne to complete a PhD in Economics in 2007, during which he was supervised by Joshua Gans. His research interests lie in the field of industrial organisation; specifically price theory, market structure and dynamic oligopoly. His article, ‘Addictive Drug Use Management Policies in a Long-Run Economic Model’ (with Harry Clarke), was published in Australian Economic Papers in 2009.
N. Gregory Mankiw
N. Gregory Mankiw is Robert M. Beren Professor of Economics at Harvard University. He studied economics at Princeton University and MIT. Dr. Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals, such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more widely accessible forums, including The New York Times, The Washington Post, The Wall Street Journal, and Fortune. Dr. Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005, he served as chairman of the President’s Council of Economic Advisers.