Principles of Microeconomics is an adaptation of the textbook, Microeconomics: Markets, Methods, and Models by D. Curtis and I. Irvine, which provides concise yet complete coverage of introductory microeconomic theory, application and policy in a Canadian and global environment.
This adaptation employs methods that use equations sparingly and do not utilize calculus. The key issues in most chapters are analyzed by introducing a numerical example or case study at the outset. Students are introduced immediately to the practice of taking a data set, examining it numerically, plotting it, and again analyzing the material in that form.
The end-of-chapter problems involve numerical and graphical analysis, and a small number of problems in each chapter involve solving simple linear equations (intersecting straight lines). However, a sufficient number of questions is provided for the student to test understanding of the material without working through that subset of questions.
This textbook is intended for a one-semester course, and can be used in a two-semester sequence with the companion textbook, Principles of Macroeconomics. The three introductory chapters are common to both textbooks.
This open book is licensed under a Creative Commons License (CC BY-NC-SA). You can download Principles of Microeconomics ebook for free in PDF format (2.6 MB).
Table of Contents
The Building Blocks
Introduction to key ideas
Theories, data and beliefs
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