Microeconomics: Markets, Methods, and Models by D.Curtis and I. Irvine provides concise yet complete coverage of introductory microeconomics theory, application and policy. The textbook begins with an explanation and development of the standard tools of analysis in the discipline and carries on to investigate the meaning of 'well-being' in the context of an efficient use of the economy's resources.
An understanding of individual optimizing behavior is developed, and this behavior is in turn used to link household decisions on savings with firms' decisions on production, expansion and investment. The textbook then explores behavior in a variety of different market structures. The role of the government is examined, and the key elements in the modern theory of international trade are developed.
Opportunity cost, a global economy and behavioral responses to incentives are the dominant themes. Examples are domestic and international in their subject matter and are of the modern era.
This open book is licensed under a Creative Commons License (CC BY-NC-SA). You can download Microeconomics: Markets, Methods and Models ebook for free in PDF format (2.7 MB).
Table of Contents
The Building Blocks
Introduction to key ideas
Theories, models and data
The classical marketplace - demand and supply
Responsiveness and the Value of Markets
Measures of response: elasticities
Welfare economics and externalities
Decision Making by Consumer and Producers
Firms, investors and capital markets
Production and cost
The Factors of Production
Labour and capital
Human capital and the income distribution
Government and Trade