Microeconomics

Learn to apply microeconomic concepts to the world around you as MICROECONOMICS: PRIVATE AND PUBLIC CHOICE, 17E highlights current economic conditions. Reader-friendly coverage analyzes and explains the latest consumer and firm behavior. You see how theories apply to issues in health care, earnings differences between genders, labor unions, environment and resource exhaustion and even the economic shutdown from the 2020 COVID-19 pandemic. This edition dispels common economic myths with microeconomic insights that clarify current issues. You see how topics apply to common issues, such as student grants and loans. This edition also offers a unique public choice perspective on the political process and delves into why government actions sometimes fail to deliver desired outcomes. You learn the importance of entrepreneurial discovery and dynamic competition on economic growth. In addition, you study international trade as a source of economic growth and higher living standards. Most importantly, you learn to recognize microeconomic principles at work in your life.