 
Microeconomics as a Second Language
January 2009, ©2010
|
As a professor of the Principles of Economics course at University of California, Berkeley for more than ten years, Martha Olney incorporates her insights and experience in the classroom into this concise text. Olney provides students with the "language" of economics in a easily accessible approach to better understand these difficult concepts.
Microeconomics as a Second Language can be used as a supplement to any Principles textbook, or as an innovative study guide for students who need a problem-solving approach to understanding this course.
Introduction to Economics.
Economic Models.
Mathematical Tools.
Graphing.
Conclusion.
Chapter 2: Production Possibilities Frontier, Economic Growth, and Gains from Trade.
The Production Possibilities Frontier.
Economic Growth.
Gains from Trade.
Chapter 3: Demand and Supply.
Overview of Model of Demand and Supply.
Demand.
Supply.
Equilibrium.
Changes of Equilibrium.
Chapter 4: Extensions of the Demand and Supply Model.
Price Floors and Price Ceilings.
Excise Taxes.
Elasticity.
Consumer and Producer Surplus.
Deadweight Loss of a Tax.
Chapter 5: Consumer Theory.
Utility Maximization.
Budget Constraint.
Indifference Curves.
Consumer Equilibrium and the Demand Curve.
Income and Substitution Effects.
Chapter 6: Perfectly Competitive Firms.
Production and Profit Maximization.
Product Curves, Cost Curves, and Profit Maximization.
Long-Run Average Cost.
Maximizing Profit.
Types of Industries.
Profit.
Shut Down or Produce?
In the Long Run, Economic Profit Equals Zero.
Chapter 7: Imperfect Competition.
Monopoly.
Monopolistic Competition.
Oligopoly.
Chapter 8: Market Failure: Externalities and Public Goods.
Externalities.
A Graphical Approach: Negative Externality.
A Graphical Approach: Positive Externality.
Avoiding Government Intervention: The Coase Theorem.
Public Goods.
Chapter 9: Factor Markets.
Labor Markets.
Labor Supply.
Labor Demand.
Labor Market Equilibrium.
Changes of Labor Market Equilibrium.
Misuse of the Labor Market Model.
Land Markets.
Markets for Physical Capital.
- Opening chapter key concepts: Each chapter begins with a list of key terms and concepts, graphs, and equations covered in the chapter, to keep the student on track.
- “TIP” Notes: Each chapter is highlighted with tricks for remembering key concepts or commons errors to avoid.
- “TRY” Questions: These questions give students the chance to test what they’ve learned throughout the book. Answers to all the “TRY” questions can be found in the back of the book.
- Standard organization: The author organized this title in the same order as standard economics textbooks to facilitate its use as a supplement.
- Emphasis on Fundamentals: Olney ‘cuts right to the chase’ by focusing in on the concepts, assumptions, and models essential to the students’ overall understanding of Microeconomics.
Share This
