Description

Features

• Balanced Coverage of Both Traditional and Modern Theories: Basic core theory is covered thoroughly in the first half of the book, and a fully up-to-date, authoritative treatment of modern theories–such as industrial organization theories, game theory, transaction cost theory, information theory and contract theory–is included in the second half.
• Real-World Examples and Applications: Hundreds of examples and applications use real people, real companies, and real data to illustrate basic microeconomic theory. Providing valuable practical perspective, abundant examples and applications showcase the versatility of modern microeconomics.
• Solved Problems: Several Solved Problems in each chapter provide students with a step-by-step model for working out both qualitative and quantitative problems. Students get the opportunity to practice the method modeled in a series of related exercises at the end of the chapter.
• Cross-chapter Analyses: This feature is a crucial link between core theories covered in separate chapters, and gives students hands-on practice designed to sharpen their analytical and quantitative skills.
• What-if Policy Analysis: The book uses economic models to probe the likely outcomes of changes in public policies such as taxes, subsidies, barriers to entry, price floors and ceilings, quotas and tariffs, zoning, laws limiting diversification, pollution controls, licensing laws, and laws governing pensions.
• MyEconLab: An enhanced version of MyEconLab, the online homework and tutorial resource, is tightly integrated with this Fourth Edition. A prompt in the text directs student online for interactive Solved Problems, and an additional 60 audio-enhanced Solved Problems model the step-by-step approach to solving end-of-chapter. Groundbreaking graphing technology grades the graphs students draw and individualized Study Plans help students focus their study time while linking them to additional learning resources. Students who purchase a new copy of Microeconomics receive access to MyEconLab at no additional cost.

New To This Edition

• Fresh Content for the Fourth Edition:
  • Shifts in both Demand and Supply Curves: New material and a new Application in Chapter 2 show what happens to equilibrium prices and quantities if both supply and demand curves shift.
  • Long-Run Market Supply Curve with Trade: Chapter 8 illustrates why the import supply curve is horizontal for small countries using a real-world cotton example.
  • Behavioral Economics: Two new sections discuss major issues in behavioral economics. Chapter 11 examines the role of bandwagon effects on monopoly pricing over time, while Chapter 16 discusses the importance of time varying discounting in explaining procrastination and in avoiding environmental disasters.
  • Auctions: Chapter 14 features a new section on bidders’ strategies in auctions.  In addition, two new Applications discuss eBay auctions.
  • New Examples: Recent events, like the monopoly pricing of the iPod^® and analysis of the Harry Potter and the Prisoner of Azkaban™ DVD to exemplify price discrimination, illustrate core microeconomic concepts.
• Hundreds of New Problems and Questions:
  • Exercises: This Fourth Edition boasts over 50% more exercises over the previous one, bringing the total number to 617–averaging over 32 per chapter.  Of these, 39% are based on recent newspaper articles, Applications in the chapter, and other real-world issues and events.
  • Verbal Answers Using Slides: Each chapter now includes three audio-enabled PowerPoint^® slides authored by James Dearden of Lehigh University. With these visual, verbal aids students hear Dearden talk through the solution at the same time they watch him draw out the answer on screen. A large number of these exercises are based on real-world events, many torn from right from the headlines, and an even larger majority of them are multipart exercises. This innovative learning tool is available online at www.myeconlab.com/perloff.
• Additional Learning Tools:
  • Margin Notes: Major phrases are defined in both the text and highlighted in the margin.  These notes clearly link concepts to Applications, Solved Problems, and other material with end-of-chapter exercises.
  • End-of-Chapter Exercise Signals: New signposts help students navigate end-of-chapter problems.  An asterisk (*) indicates an answer is available at the end of the book.  An A means it is explicitly linked to an Application, a Solved Problem, or some other material within the chapter. Exercises with a C may require the use of calculus to solve.  A W prompts students to get on the Web for audio-enable PowerPoint answers at www.myeconlab.com/perloff.
• New Applications:
  • Over 75% New or Updated: The Fourth Edition is replete with current applications from the flu vaccine shortage to the effect of the movie Sideways on the demand for wine.
  • Extension of Applications: Nearly half of the 66 Solved Problems in the Fourth Edition are linked to adjacent applications. Five Cross-Chapter Analyses combine Applications with Solved Problems, and look at topics like outsourcing and the World Trade Organization.
• Up-to-the-minute Data: The Fourth Edition is infused with new real-world data such as a recent study of whether it pays to go to college, fresh estimates of production and cost functions, and a new table on actual measures of consumer surplus.
• MyEconLab: An enhanced version of MyEconLab, the online homework and tutorial resource, is tightly integrated with this Fourth Edition. A prompt in the text directs student online for interactive Solved Problems, and an additional 60 audio-enhanced Solved Problems model the step-by-step approach to solving end-of-chapter. Groundbreaking graphing technology grades the graphs students draw and individualized Study Plans help students focus their study time while linking them to additional learning resources. Students who purchase a new copy of Microeconomics receive access to MyEconLab is available at no additional cost.

Table of Contents

1. Introduction.

I. SUPPLY AND DEMAND.

2. Supply and Demand.

3. Applying the Supply-and-Demand Model.
II. CONSUMER THEORY.

4. Consumer Choice.

5. Applying Consumer Theory.
III. THEORY OF THE FIRM.

6. Firms and Production.

7. Costs.
IV. PERFECT COMPETITION.

8. Competitive Firms and Markets.

9. Applying the Competitive Model.

10. General Equilibrium and Economic Welfare.
V. MARKET POWER AND MARKET STRUCTURE.

11. Monopoly.

12. Pricing.

13. Oligopoly and Monopolistic Competition.

14. Strategy.
VI. FACTOR MARKETS.

15. Factor Markets and Vertical Integration.

16. Interest Rates, Investments, and Capital Markets.
VII. UNCERTAINTY, MISSING MARKETS, AND LIMITED INFORMATION.

17. Uncertainty.

18. Externalities, Commons, and Public Goods.

19. Asymmetric Information.

20. Contracts and Moral Hazards.

Courses

Intermediate Microeconomics (Algebra Based)  (Economics)
Managerial Economics  (Economics)

Next Edition(s)

• Microeconomics & MyEconLab Student Access Code Card, 5/E
  Perloff
  ©2009  |  Prentice Hall  |  Kit/Package/ShrinkWrap  |  Instock
  ISBN-10: 0132483238  |  ISBN-13: 9780132483230
  Suggested retail price: $200.00  Net price: $150.00  (What's this?)More Info
  

• Microeconomics plus MyEconLab with Pearson Etext Student Access Code Card Package, 6/E
  Perloff
  ©2012  |  Prentice Hall  |  Kit/Package/ShrinkWrap  |  Instock
  ISBN-10: 0132744929  |  ISBN-13: 9780132744928
  Suggested retail price: $216.67  Net price: $162.50  (What's this?)Brief Description  | 

  

  Students need to learn two skills in this course: they need to master the requisite micro theory, and at the same time develop their problem-solving skills. Microeconomics has become a market leader because Perloff presents theory in the context of real, data-driven examples, and then develops intuition through his hallmark Solved Problems. Students gain a practical perspective, seeing how models connect to real-world decisions being made in today’s firms and policy debates.
  
  It is easy to encourage students to practice working problems with MyEconLab, the online homework and tutorial system. MyEconLab  includes exercises and Solved Problems pulled right from the book, as well as Economics Videos featuring ABC News. For more information visit MyEconLab and Economics Videos.
  

  MyEconLab New Design is now available for this title!  MyEconLab New Design offers: 

  • One Place for All of Your Courses. Improved registration experience and a single point of access for instructors and students who are teaching and learning multiple MyLab/Mastering courses.
  • A Simplified User Interface.  The new user interface offers quick and easy access to Assignments, Study Plan, eText & Results, as well as additional option for course customization.
  • New Communication Tools. The following new communication tools can be used to foster collaboration, class participation, and group work.
    • Email: Instructors can send emails to their entire class, to individual students or to instructors who has access to their course.
    • Discussion Board: The discussion board provides students with a space to respond and react to the discussions you create. These posts can also be separated out into specific topics where students can share their opinions/answers and respond to their fellow classmates’ posts.
    • Chat/ ClassLive: ClassLive is an interactive chat tool that allows instructors and students to communicate in real time. ClassLive can be used with a group of students or one-on-one to share images or PowerPoint presentations, draw or write objects on a whiteboard, or send and received graphed or plotted equations. ClassLive also has additional classroom management tools, including polling and hand-raising.
  • Enhanced eText. Available within the online course materials and offline via an iPad app, the enhanced eText allows instructors and students to highlight, bookmark, take notes, and share with one another.

  For a calculus-based microeconomics course, consider Perloff’s new text, Microeconomics: Theory and Applications with Calculus.

  More Info
  

• Microeconomics plus MyEconLab with Pearson Etext Student Access Code Card Package, 6/E
  Perloff
  ©2012  |  Prentice Hall  |  Kit/Package/ShrinkWrap  |  Instock
  ISBN-10: 0132744929  |  ISBN-13: 9780132744928
  Suggested retail price: $216.67  Net price: $162.50  (What's this?)Brief Description  | 

  

  Students need to learn two skills in this course: they need to master the requisite micro theory, and at the same time develop their problem-solving skills. Microeconomics has become a market leader because Perloff presents theory in the context of real, data-driven examples, and then develops intuition through his hallmark Solved Problems. Students gain a practical perspective, seeing how models connect to real-world decisions being made in today’s firms and policy debates.
  
  It is easy to encourage students to practice working problems with MyEconLab, the online homework and tutorial system. MyEconLab  includes exercises and Solved Problems pulled right from the book, as well as Economics Videos featuring ABC News. For more information visit MyEconLab and Economics Videos.
  

  MyEconLab New Design is now available for this title!  MyEconLab New Design offers: 

  • One Place for All of Your Courses. Improved registration experience and a single point of access for instructors and students who are teaching and learning multiple MyLab/Mastering courses.
  • A Simplified User Interface.  The new user interface offers quick and easy access to Assignments, Study Plan, eText & Results, as well as additional option for course customization.
  • New Communication Tools. The following new communication tools can be used to foster collaboration, class participation, and group work.
    • Email: Instructors can send emails to their entire class, to individual students or to instructors who has access to their course.
    • Discussion Board: The discussion board provides students with a space to respond and react to the discussions you create. These posts can also be separated out into specific topics where students can share their opinions/answers and respond to their fellow classmates’ posts.
    • Chat/ ClassLive: ClassLive is an interactive chat tool that allows instructors and students to communicate in real time. ClassLive can be used with a group of students or one-on-one to share images or PowerPoint presentations, draw or write objects on a whiteboard, or send and received graphed or plotted equations. ClassLive also has additional classroom management tools, including polling and hand-raising.
  • Enhanced eText. Available within the online course materials and offline via an iPad app, the enhanced eText allows instructors and students to highlight, bookmark, take notes, and share with one another.

  For a calculus-based microeconomics course, consider Perloff’s new text, Microeconomics: Theory and Applications with Calculus.

  More Info
  

• Microeconomics plus MyEconLab with Pearson Etext Student Access Code Card Package, 6/E
  Perloff
  ©2012  |  Prentice Hall  |  Kit/Package/ShrinkWrap  |  Instock
  ISBN-10: 0132744929  |  ISBN-13: 9780132744928
  Suggested retail price: $216.67  Net price: $162.50  (What's this?)Brief Description  | 

  

  Students need to learn two skills in this course: they need to master the requisite micro theory, and at the same time develop their problem-solving skills. Microeconomics has become a market leader because Perloff presents theory in the context of real, data-driven examples, and then develops intuition through his hallmark Solved Problems. Students gain a practical perspective, seeing how models connect to real-world decisions being made in today’s firms and policy debates.
  
  It is easy to encourage students to practice working problems with MyEconLab, the online homework and tutorial system. MyEconLab  includes exercises and Solved Problems pulled right from the book, as well as Economics Videos featuring ABC News. For more information visit MyEconLab and Economics Videos.
  

  MyEconLab New Design is now available for this title!  MyEconLab New Design offers: 

  • One Place for All of Your Courses. Improved registration experience and a single point of access for instructors and students who are teaching and learning multiple MyLab/Mastering courses.
  • A Simplified User Interface.  The new user interface offers quick and easy access to Assignments, Study Plan, eText & Results, as well as additional option for course customization.
  • New Communication Tools. The following new communication tools can be used to foster collaboration, class participation, and group work.
    • Email: Instructors can send emails to their entire class, to individual students or to instructors who has access to their course.
    • Discussion Board: The discussion board provides students with a space to respond and react to the discussions you create. These posts can also be separated out into specific topics where students can share their opinions/answers and respond to their fellow classmates’ posts.
    • Chat/ ClassLive: ClassLive is an interactive chat tool that allows instructors and students to communicate in real time. ClassLive can be used with a group of students or one-on-one to share images or PowerPoint presentations, draw or write objects on a whiteboard, or send and received graphed or plotted equations. ClassLive also has additional classroom management tools, including polling and hand-raising.
  • Enhanced eText. Available within the online course materials and offline via an iPad app, the enhanced eText allows instructors and students to highlight, bookmark, take notes, and share with one another.

  For a calculus-based microeconomics course, consider Perloff’s new text, Microeconomics: Theory and Applications with Calculus.

  More Info
  

Companion Website for Microeconomics plus MyEconLab plus eBook 1-semester Student Access Kit, 4/E
Perloff
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0321374541  |  ISBN-13: 9780321374547
This online resource is available at no cost.
More Info

MyEconLab Course for Microeconomics, 4/E
Perloff
©2007  |  Prentice Hall  |  Website  |  Live
ISBN-10: 0321486307  |  ISBN-13: 9780321486301
Online purchase price: $70.00More Info

MyEconLab Homework for Microeconomics, 4/E
Perloff
©2007  |  Prentice Hall  |  Website  |  Live
ISBN-10: 0321455185  |  ISBN-13: 9780321455185
Online purchase price: $55.00More Info

MyEconLab in CourseCompass Course for Microeconomics, 4/E
Perloff
©2007  |  On-line Supplement  |  Access Code Required  |  Live
ISBN-10: 0321374533  |  ISBN-13: 9780321374530
Online purchase price: $70.00  |  Students, buy access Take a Tour  |  More Info

MyEconLab in CourseCompass Homework for Microeconomics, 4/E
Perloff
©2007  |  On-line Supplement  |  Access Code Required  |  Live
ISBN-10: 0321456777  |  ISBN-13: 9780321456779
Online purchase price: $55.00  |  Students, buy access Take a Tour  |  More Info

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eThemes of the Times Answers for Microeconomics, 4/E
Addison Wesley Higher Education
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0321485521  |  ISBN-13: 9780321485526

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Online Computerized Test Bank, 4/E
Perloff
©2007  |  Prentice Hall  |  Electronic Supplement  |  Available
ISBN-10: 0321374525  |  ISBN-13: 9780321374523

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Online Instructor's Manual, 4/E
Perloff
©2007  |  Prentice Hall  |  Electronic Supplement; 0 pp  |  Available
ISBN-10: 0321374584  |  ISBN-13: 9780321374585

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Online PowerPoint Presentation, 4/E
Perloff
©2007  |  Prentice Hall  |  Electronic Supplement  |  Available
ISBN-10: 0321374495  |  ISBN-13: 9780321374493

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Online Test Bank, 4/E
Perloff
©2007  |  Prentice Hall  |  Electronic Supplement  |  Available
ISBN-10: 0321374517  |  ISBN-13: 9780321374516

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Online Transparency Masters w/ Student Worksheets, 4/E
Perloff
©2007  |  Prentice Hall  |  Electronic Supplement  |  Available
ISBN-10: 032137455X  |  ISBN-13: 9780321374554

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Companion Website for Microeconomics plus MyEconLab plus eBook 1-semester Student Access Kit, 4/E
Perloff
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0321374541  |  ISBN-13: 9780321374547
This online resource is available at no cost.
More Info

MyEconLab Course for Microeconomics, 4/E
Perloff
©2007  |  Prentice Hall  |  Website  |  Live
ISBN-10: 0321486307  |  ISBN-13: 9780321486301
Online purchase price: $70.00More Info

MyEconLab Homework for Microeconomics, 4/E
Perloff
©2007  |  Prentice Hall  |  Website  |  Live
ISBN-10: 0321455185  |  ISBN-13: 9780321455185
Online purchase price: $55.00More Info

MyEconLab in CourseCompass Course for Microeconomics, 4/E
Perloff
©2007  |  On-line Supplement  |  Access Code Required  |  Live
ISBN-10: 0321374533  |  ISBN-13: 9780321374530
Online purchase price: $70.00  |  Students, buy access Take a Tour  |  More Info

MyEconLab in CourseCompass Homework for Microeconomics, 4/E
Perloff
©2007  |  On-line Supplement  |  Access Code Required  |  Live
ISBN-10: 0321456777  |  ISBN-13: 9780321456779
Online purchase price: $55.00  |  Students, buy access Take a Tour  |  More Info

Back to top

Companion Website for Microeconomics plus MyEconLab plus eBook 1-semester Student Access Kit, 4/E
Perloff
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0321374541  |  ISBN-13: 9780321374547
This online resource is available at no cost.
More Info

MyEconLab Course for Microeconomics, 4/E
Perloff
©2007  |  Prentice Hall  |  Website  |  Live
ISBN-10: 0321486307  |  ISBN-13: 9780321486301
Online purchase price: $70.00More Info

MyEconLab Homework for Microeconomics, 4/E
Perloff
©2007  |  Prentice Hall  |  Website  |  Live
ISBN-10: 0321455185  |  ISBN-13: 9780321455185
Online purchase price: $55.00More Info

MyEconLab in CourseCompass Course for Microeconomics, 4/E
Perloff
©2007  |  On-line Supplement  |  Access Code Required  |  Live
ISBN-10: 0321374533  |  ISBN-13: 9780321374530
Online purchase price: $70.00  |  Students, buy access More Info

MyEconLab in CourseCompass Homework for Microeconomics, 4/E
Perloff
©2007  |  On-line Supplement  |  Access Code Required  |  Live
ISBN-10: 0321456777  |  ISBN-13: 9780321456779
Online purchase price: $55.00  |  Students, buy access More Info

Companion Website for Microeconomics plus MyEconLab plus eBook 1-semester Student Access Kit, 4/E
Perloff
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0321374541  |  ISBN-13: 9780321374547
This online resource is available at no cost.
More Info

MyEconLab Course for Microeconomics, 4/E
Perloff
©2007  |  Prentice Hall  |  Website  |  Live
ISBN-10: 0321486307  |  ISBN-13: 9780321486301
Online purchase price: $70.00More Info

MyEconLab Homework for Microeconomics, 4/E
Perloff
©2007  |  Prentice Hall  |  Website  |  Live
ISBN-10: 0321455185  |  ISBN-13: 9780321455185
Online purchase price: $55.00More Info

MyEconLab in CourseCompass Course for Microeconomics, 4/E
Perloff
©2007  |  On-line Supplement  |  Access Code Required  |  Live
ISBN-10: 0321374533  |  ISBN-13: 9780321374530
Online purchase price: $70.00  |  Students, buy access Take a Tour  |  More Info

MyEconLab in CourseCompass Homework for Microeconomics, 4/E
Perloff
©2007  |  On-line Supplement  |  Access Code Required  |  Live
ISBN-10: 0321456777  |  ISBN-13: 9780321456779
Online purchase price: $55.00  |  Students, buy access Take a Tour  |  More Info

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• eBook for Microeconomics, 4/E
  Perloff
  ©2007  |  Prentice Hall  |  On-line Supplement  |  Live
  ISBN-10: 0321455177  |  ISBN-13: 9780321455178
  Online purchase price: $45.00Brief Description  | 

  

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