Principles of Microeconomics,
9th Edition

Part 1 Introduction
1. Ten lessons from economics
2. Thinking like an economist
3. Interdependence and the gains from trade
Part 2 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 3 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 4 The economics of the public sector
10. Externalities
11. Public goods and common resources
12. The design of the tax system
Part 5 Firm behaviour and the organisation of industry
13. The costs of production
14. Firms in competitive markets
15. Monopoly
16. Monopolistic competition
17. Oligopoly and business strategy
Part 6 The economics of labour markets
18. The markets for the factors of production
19. Earnings, unions and discrimination
20. Income inequality and poverty
Part 7 Topics for further study
21. The theory of consumer choice
22. Frontiers of microeconomics

• Joshua Gans

  Joshua Gans holds the Skoll Chair in Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto; he was previously Professor of Management (information Economics) at the Melbourne Business School. He studied economics at the University of Queensland and Stanford University. He currently teaches network and digital marketing strategy, but prior to his relocation to Canada he taught introductory economics and incentive theory to MBA students.

• Stephen King

  Dr Stephen P King joined the Productivity Commission as a Commissioner from 1 July 2016. He was recently a Professor of Economics at Monash University in Melbourne where he also held the position of Dean of the Faculty of Business and Economics from 2009-2011.

• Martin Byford

  Martin Byford is Lecturer of Economics at RMIT University. Prior to joining RMIT he was Assistant professor of economics at the University of Colorado at Boulder. Martin discovered economics during the final year of a combined Arts and Civil Engineering degree. Realising that he had made a terrible error in his choice of vocation, Martin went back to university to study economics. He completed a PhD at the University of Melbourne in 2007. Martin’s introductory microeconomics course is currently taught on RMIT campuses in Australia, Singapore and Vietnam.

• NEW coverage of pandemic economics, cryptocurrency, human capital, and behavioural economics

• NEW case studies, news articles and figures

• NEW section on monopsony in Chapter 19

• ‘Ten lessons from economics’ are outlined in Chapter 1 and are referred to throughout the text to remind students that these lessons are the key to most economic analysis

• Case studies, 'Think' boxes, 'In the news', and 'FYI' boxes provide opportunities for students to analyse practical applications of economic concepts, gain insights into current policy issues and consider current events through an economic lens

• The ‘Check your understanding’ feature is unique in the market and breaks up learning into manageable sections. It provides students with the opportunity to check their understanding before continuing to the next section of the chapter, while also encouraging discussion and feedback between instructors and students

• End-of-chapter summaries, questions for review, and problems and applications reinforce chapter content and encourage critical thinking

• An inclusive approach ensures that prominent women in economics are highlighted, as well as concepts around wage discrimination

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• Premium online teaching and learning tools are available on the MindTap platform - the personalised eLearning solution. MindTap is a flexible and easy-to-use platform that helps build student confidence and gives you a clear picture of their progress. MindTap for Gans/King/Stonecash's Principles of Economics is full of innovative resources to support critical thinking, and help your students move from memorisation to mastery! Includes: Gans/King/Stonecash's Principles of Economics eBook Aplia problem sets Graph builder activities Concept Clip videos Interactive quizzes MindTap is a premium purchasable eLearning tool. Contact your Cengage learning consultant to find out how MindTap can transform your course.

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Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

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