9781582620008: Microeconomics

Microeconomics, Fifth Edition, has been streamlined to make teaching easier—while incorporating the latest economic statistics and continued coverage of global issues. Focusing on international topics, Boyes and Melvin address comparative advantage and gains from trade in Chapter 2 before turning to a detailed exploration of demand and supply, as well as product and resource markets.

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About the Author:

Dr. William Boyes is professor of economics at Arizona State University. He received his Ph.D. in economics from the Claremont Graduate School in 1974. Before joining the Arizona State faculty, he was the Distinguished Visiting Professor of Business at Weber State University; visiting professor at Tsinghua University, Beijing, China and the University of London, London, England, and lectured at ITAM in Mexico City; and was the dean of the College of Business at Cal Poly, San Luis Obispo. Dr. Boyes has also served as chairman of the Economics Department at ASU and has been an economist with Security Pacific National Bank (now Bank of America). He has been a consultant to the White House, the Commerce Department, the Federal Trade Commission, and several private firms. He is the director of the office of economic education at ASU and a member of the Pacific Research Institute's Academic Advisory Board. Dr. Boyes has received many teaching awards, including the Golden Key National Honor Society Outstanding Professor Award at ASU in 1988, the Outstanding Teacher in the MBA Program Award at ASU in 1994, the Outstanding Teacher in the College of Business Award at ASU in 1995, Huizingh Outstanding Honors Professor in 2007, and Outstanding MBA Professor in 2008.

Michael Melvin is currently Head of Currency Research at Barclays Global Investors. He also retains affiliations at the Arizona State University Department of Economics and the Haas School of Business at the University of California, Berkeley. Dr. Melvin received his Ph.D. in economics from UCLA in 1980. He has served as a visiting scholar at the Federal Reserve Board and the International Monetary Fund, was a Fulbright Professor at the University of Frankfurt, and has been a visiting professor at UCLA, Northwestern University, U.C. San Diego, and the University of Hawaii. His field of specialization is International Finance, and he is the coeditor of the Journal of International Money and Finance.


Part I: INTRODUCTION TO ECONOMICS. 1. The Central Idea. 2. Observing and Explaining the Economy. 3. The Supply and Demand Model. 4. Subtleties of the Supply and Demand Model: Price Floors, Price Ceilings and Elasticity. Part II: PRINCIPLES OF MICROECONOMICS. 5. The Demand Curve and the Behavior of Consumers. 6. The Supply Curve and the Behavior of Firms. 7. The Efficiency of Markets. Part III: THE ECONOMICS OF THE FIRM 8. Costs and the Changes at Firms Over Time. 9. The Rise and Fall of Industries. 10. Monopoly. 11. Product Differentiation and Monopolistic Competition. 12. Antitrust Policy and Regulation. Part IV: MARKETS. 13. Labor Markets. 14. Taxes, Transfers and Income Distribution. 15. Public Goods, Externalities and Government Behavior. 16. Capital and Financial Markets. Appendix to Chapter 2: Reading, Understanding, and Creating Graphs. Appendix to Chapter 5: Consumer Theory with Indifference Curves. Appendix to Chapter 8: Producer Theory with Isoquants.

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