Microeconomics: Principles and Applications is about economic principles and how economists use them to understand the world. It was conceived, written, and for the third edition, substantially revised to help your students focus on those basic principles and applications.

We originally decided to write this book because we thought that existing books often confused students about economics and what it is all about. In our view, the leading texts can be divided into three categories. In the first category are the encyclopedias-the   heavy tomes with a section or a paragraph on every topic or subtopic you might possibly want to present to your students. These books are often useful as reference tools. But because they cover too many topic-many of them superficially-the central themes and ideas are lost in the shuffle.

Part 1 Preliminaries
Part 2 Microeconomic Decision Makers
Part 3 Product Markets
Part 4 Labor, Capital, and Financial Markets
Part 5 Efficiency, Government, and the Global Economy