Understanding the Market
An Introduction to Microeconomics
3rd edition
By Andrew Dunnett
April 1998
Pearson Education / Longman
ISBN: 0582325064
304 pages
$92.50 Paper Original
This text provides a highly accessible non-mathematical introduction to microeconomics and is specially written to cater for the needs of students taking foundation courses in economics.
Designed to provide students with the theory they need to understand the difficult concepts the text helps students recognize that an understanding of economics can help make sense of the world.
Covering all the theoretical elements of an intro Microeconomics course the text recognizes that theory cannot be divorced from practice and policy. Concepts are treated rigorously, but there are numerous applied examples provided as illustrations of the concepts.
Contents
Introduction
Market demand
Market supply
The market price
Costs
Revenue, cost and profit
Case studies in pricing
Objectives of the firm
Behavior in oligopolistic markets
Trade
Multinationals
The consumer
Factor markets
The price system as a allocative mechanism
The distribution of income
Planning
State intervention in market economies: public spending
The economy and the environment
Public corporations
The producer, the consumer and the state
Features
• Maintains a balance between theory and application.
• Takes a non-mathematical, 'user-friendly' approach.
• Brand new pedagogy including: chapter preview; chapter summaries;
questions and problems; highlighted key terms; review questions with answers;
case studies and navigational aids.
• New and updated case studies.
• New chapter on the environment.
• Increased coverage of markets and market failures.