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Microeconomics,, 16th Canadian Edition

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  • Chapter 1 Economic Issues and Concepts

  • Chapter 2 Economic Theories, Data, and Graphs

  • Chapter 3 Demand, Supply, and Price

  • Chapter 4 Elasticity

  • Chapter 5 Price Controls and Market Efficiency

  • Chapter 6 Consumer Behaviour

  • Chapter 7 Producers in the Short Run

  • Chapter 8 Producers in the Long Run

  • Chapter 9 Competitive Markets

  • Chapter 10 Monopoly, Cartels, and Price Discrimination

  • Chapter 11 Imperfect Competition and Strategic Behaviour

  • Chapter 12 Economic Efficiency and Public Policy

  • Chapter 13 How Factor Markets Work

  • Chapter 14 Labour Markets and Income Inequality

  • Chapter 15 Interest Rates and the Capital Market

  • Chapter 16 Market Failures and Government Intervention

  • Chapter 17 The Economics of Environmental Protection

  • Chapter 18 Taxation and Public Expenditure

  • Chapter 32 The Gains from International Trade

  • Chapter 33 Trade Policy

  • Mathematical Notes M-

  • Timeline of Great Economists T-

  • Types of Economic Systems

  • The Great Debate

  • Government in the Modern Mixed Economy

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 2 Economic Theories, Data, and Graphs



    1. 1 Positive and Normative Statements



  • Disagreements Among Economists



    1. 2 Building and Testing Economic Theories



  • What Are Theories?

  • Testing Theories



    1. 3 Economic Data



  • Index Numbers

  • Graphing Economic Data



    1. 4 Graphing Economic Theories



  • Functions

  • Graphing Functions

  • A Final Word

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 3 Demand, Supply, and Price



    1. 1 Demand



  • Quantity Demanded

  • Quantity Demanded and Price

  • Demand Schedules and Demand Curves



    1. 2 Supply



  • Quantity Supplied

  • Quantity Supplied and Price

  • Supply Schedules and Supply Curves



    1. 3 The Determination of Price



  • The Concept of a Market

  • Market Equilibrium

  • Changes in Market Equilibrium

  • A Numerical Example

  • Relative Prices

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 4 Elasticity



    1. 1 Price Elasticity of Demand



  • The Measurement of Price Elasticity

  • What Determines Elasticity of Demand?

  • Elasticity and Total Expenditure



    1. 2 Price Elasticity of Supply



  • Determinants of Supply Elasticity



    1. 3 Elasticity Matters for Excise Taxes





    1. 4 Other Demand Elasticities



  • Income Elasticity of Demand

  • Cross Elasticity of Demand

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 5 Price Controls and Market Efficiency



    1. 1 Government-Controlled Prices



  • Disequilibrium Prices

  • Price Floors

  • Price Ceilings



    1. 2 Rent Controls: A Case Study of Price Ceilings



  • The Predicted Effects of Rent Controls

  • Who Gains and Who Loses?

  • Policy Alternatives



    1. 3 An Introduction to Market Efficiency



  • Demand as “Value” and Supply as “Cost”

  • Economic Surplus and Market Efficiency

  • Market Efficiency and Price Controls

  • One Final Application: Output Quotas

  • A Cautionary Word

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 6 Consumer Behaviour



    1. 1 Marginal Utility and Consumer Choice



  • Diminishing Marginal Utility

  • Utility Schedules and Graphs

  • Maximizing Utility

  • The Consumer’s Demand Curve

  • Market Demand Curves



    1. 2 Income and Substitution Effects of Price Changes



  • The Substitution Effect

  • The Income Effect

  • The Slope of the Demand Curve



    1. 3 Consumer Surplus



  • The Concept

  • The Paradox of Value

  • Summary

  • Key Concepts

  • Study Exercises

  • Appendix to Chapter 6 Indifference Curves

  • Chapter 7 Producers in the Short Run



    1. 1 What Are Firms?



  • Organization of Firms

  • Financing of Firms

  • Goals of Firms



    1. 2 Production, Costs, and Profits



  • Production

  • Costs and Profits

  • Profit-Maximizing Output

  • Time Horizons for Decision Making



    1. 3 Production in the Short Run



  • Total, Average, and Marginal Products

  • Diminishing Marginal Product

  • The Average–Marginal Relationship



    1. 4 Costs in the Short Run



  • Defining Short Run Costs

  • Short-Run Cost Curves

  • Capacity

  • Shifts in Short-Run Cost Curves

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 8 Producers in the Long Run



    1. 1 The Long Run: No Fixed Factors



  • Profit Maximization and Cost Minimization

  • Long-Run Cost Curves



    1. 2 The Very Long Run: Changes in Technology



  • Technological Change

  • Firms’ Choices in the Very Long Run

  • Summary

  • Key Concepts

  • Study Exercises

  • Appendix to Chapter 8 Isoquant Analysis

  • Chapter 9 Competitive Markets



    1. 1 Market Structure and Firm Behaviour



  • Competitive Markets

  • Competitive Behaviour



    1. 2 The Theory of Perfect Competition



  • The Assumptions of Perfect Competition

  • The Demand Curve for a Perfectly Competitive Firm

  • Total, Average, and Marginal Revenue



    1. 3 Short-Run Decisions



  • Should the Firm Produce at All?

  • How Much Should the Firm Produce?

  • Short-Run Supply Curves

  • Short-Run Equilibrium in a Competitive Market



    1. 4 Long-Run Decisions



  • Entry and Exit

  • Long-Run Equilibrium

  • Changes in Technology

  • Declining Industries

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 10 Monopoly, Cartels, and Price Discrimination



    1. 1 A Single-Price Monopolist



  • Revenue Concepts for a Monopolist

  • Short-Run Profit Maximization

  • Why Are Monopolies Rare?

  • Entry Barriers

  • The Very Long Run and Creative Destruction



    1. 2 Cartels and Monopoly Power



  • The Effects of Cartelization

  • Problems That Cartels Face



    1. 3 Price Discrimination



  • When Is Price Discrimination Possible?

  • Different Forms of Price Discrimination

  • The Consequences of Price Discrimination

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 11 Imperfect Competition and Strategic Behaviour



    1. 1 Imperfect Competition



  • Between the Two Extremes

  • Defining Imperfect Competition



    1. 2 Monopolistic Competition



  • The Assumptions of Monopolistic Competition

  • Predictions of the Theory



    1. 3 Oligopoly and Game Theory



  • Profit Maximization Is Complicated

  • The Basic Dilemma of Oligopoly

  • Some Simple Game Theory

  • Extensions in Game Theory



    1. 4 Oligopoly in Practice



  • Cooperative Behaviour

  • Competitive Behaviour

  • The Importance of Entry Barriers

  • Oligopoly and the Economy

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 12 Economic Efficiency and Public Policy



    1. 1 Productive and Allocative Efficiency



  • Productive Efficiency

  • Allocative Efficiency

  • Which Market Structures Are Efficient?

  • Allocative Efficiency and Total Surplus

  • Allocative Efficiency and Market Failure



    1. 2 Economic Regulation to Promote Efficiency



  • Regulation of Natural Monopolies

  • Regulation of Oligopolies



    1. 3 Canadian Competition Policy



  • The Canadian Competition Act of

  • The Reforms of

  • Future Challenges

  • Summary

  • Key Concepts

  • Study Exercises

  • Chapter 13 How Factor Markets Work



    1. 1 The Demand for Factors



  • Marginal Revenue Product

  • The Firm’s Demand Curve for a Factor

  • The Market Demand Curve for a Factor



    1. 2 The Supply of Factors



  • The Supply of Factors to the Economy

  • The Supply of Factors to a Particular Industry

  • The Supply of Factors to a Particular Firm



    1. 3 Factor Markets in Action



  • Differentials in Factor Prices

  • Economic Rent

  • A Final Word

  • Summary

  • Key Concepts

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