Microeconomics: Theory and Applications

Microeconomics: Theory and Applications

Fully revised and expanded, this fifth edition of <em>Microeconomics: Theory and Applications</em> presents all the standard topics of traditional microeconomic theory while offering a modern approach that reflects the many exciting recent developments in the field. With its student-friendly writing style and clear presentation of graphs, this is an ideal text for undergraduate courses in intermediate microeconomics and business programs.<br><br><strong>Features of the Fifth Edition</strong><br> *Offers a balance of traditional microeconomic topics while addressing contemporary issues and concerns<br>*Introduces an important international dimension to microeconomics, reflecting the strong trend toward globalization in tastes, production, and distribution in today's world<br> *Presents an "at the Frontier" section in each chapter that highlights the most exciting recent examples of more advanced theoretical developments in microeconomics<br><br><strong>New and Expanded Treatment in the Fifth Edition</strong><br>*Includes electronic commerce, behavioral economics, auctioning airwaves, effect of outsourcing on employment and wages in the United States, fields of education and lifetime earnings, effect of taxation on business decisions<br> *Provides more than 130 new and updated real-world examples of how microeconomic theory can be used to analyze and possibly resolve important present-day economic problems<br>*Offers expanded treatment of important topics such as game theory; financial microeconomics; the new international economies of scale; economics of information; and market structure, efficiency, and regulation<br> *Features Internet site addresses for the most important topics in each chapter<br><br><strong>Website</strong> A companion website is now available at <strong>www.oup.com/us/salvatore</strong>. This practical learning tool offers updated material, additional examples, and PowerPointR lecture slides for each textbook chapter<br><br>