Principles of Microeconomics | John B. Taylor and Akila Weerapana

- 1The Central Idea
- 2Observing and Explaining the Economy
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  - 2.1Why Has Driving Shifted into Reverse?
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  - 2.2Variables, Correlation, and Causation
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  - 2.3Economic Policies
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  - 2.4End-of-Chapter Material
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  - 2.5Appendix: Reading, Understanding, and Creating Graphs
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- 3The Supply and Demand Model
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  - 3.1Demand
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  - 3.2Supply
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  - 3.3Market Equilibrium: Combining Supply and Demand
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  - 3.4End-of-Chapter Material
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- 4Subtleties of the Supply and Demand Model
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  - 4.1Interference with Market Prices
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  - 4.2Elasticity of Demand
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  - 4.3Working with Demand Elasticities
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  - 4.4Elasticity of Supply
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  - 4.5End-of-Chapter Material
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- 5The Demand Curve and the Behavior of Consumers
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  - 5.1Utility and Consumer Preferences
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  - 5.2The Budget Constraint and Utility Maximization
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  - 5.3Willingness to Pay and the Demand Curve
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  - 5.4The Market Demand Curve
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  - 5.5Consumer Surplus
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  - 5.6End-of-Chapter Materials
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  - 5.7Appendix: Consumer Theory with Indifference Curves
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- 6The Supply Curve and the Behavior of Firms
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  - 6.1Definition of a Firm
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  - 6.2The Firm's Profits
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  - 6.3Profit Maximization and the Individual Firm
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  - 6.4The Market Supply Curve
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  - 6.5Producer Surplus
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  - 6.6End-of-Chapter Materials
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- 7The Efficiency of Markets
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  - 7.1Individual Consumers and Firms in a Market
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  - 7.2A Double-Auction Market
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  - 7.3Are Competitive Markets Efficient?
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  - 7.4Measuring Waste from Inefficiency
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  - 7.5The Deadweight Loss from Taxes and Subsidies
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  - 7.6The Deadweight Loss from Price Floors and Ceilings
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  - 7.7Informational Efficiency
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  - 7.8End-of-Chapter Materials
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- 8Costs and the Changes at Firms Over Time
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  - 8.1Costs for an Individual Firm
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  - 8.2Cost Curves
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  - 8.3The Production Decision in the Short Run
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  - 8.4Cost and Production: The Long Run
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  - 8.5Economies of Scale
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  - 8.6End-of-Chapter Materials
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  - 8.7Appendix: Producer Theory with Isoquants
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- 9The Rise and Fall of Industries
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  - 9.1Markets and Industries
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  - 9.2The Long-Run Competitive Equilibrium Model of an Industry
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  - 9.3External Economies and Diseconomies of Scale
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  - 9.4End-of-Chapter Materials
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- 10Monopoly
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  - 10.1A Model of Monopoly
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  - 10.2The Generic Diagram of a Monopoly and Its Profits
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  - 10.3Competition, Monopoly, and Deadweight Loss
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  - 10.4Why Monopolies Exist
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  - 10.5Price Discrimination
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  - 10.6End-of-Chapter Materials
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- 11Product Differentiation, Monopolistic Competition, and Oligopoly
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  - 11.1Product Differentiation
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  - 11.2Monopolistic Competition
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  - 11.3Oligopoly
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  - 11.4End-of-Chapter Materials
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- 12Antitrust Policy and Regulation
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  - 12.1Antitrust Policy
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  - 12.2Regulating Natural Monopolies
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  - 12.3To Regulate or Not to Regulate
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  - 12.4End-of-Chapter Materials
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- 13Labor Markets
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  - 13.1The Measurement of Wages
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  - 13.2The Labor Market
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  - 13.3Labor Demand
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  - 13.4Labor Supply
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  - 13.5Explaining Wage Trends and Differences
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  - 13.6Monopsony
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  - 13.7Labor Unions
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  - 13.8End-of-Chapter Materials
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- 14Taxes, Transfers, and Income Distribution
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  - 14.1The Tax System
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  - 14.2Transfer Payments
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  - 14.3The Distribution of Income in the United States
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  - 14.4End-of-Chapter Materials
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- 15Public Goods, Externalities, and Government Behavior
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  - 15.1Public Goods
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  - 15.2Externalities: From the Environment to Education
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  - 15.3Remedies for Externalities
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  - 15.4Models of Government Behavior
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  - 15.5End-of-Chapter Materials
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- 16Capital and Financial Markets
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  - 16.1The Distinction between Physical Capital and Financial Capital
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  - 16.2Markets for Physical Capital
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  - 16.3Markets for Financial Capital
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  - 16.4The Trade-off between Risk and Returns
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  - 16.5Corporate Governance Problems
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  - 16.6The Role of Government in Financial Markets
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  - 16.7End-of-Chapter Material
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  - 16.8Appendix: Present Discounted Value
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