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Principles of Microeconomics

(8 reviews)

Multiple Authors, OpenStax College

Pub Date: 2014

ISBN 13: 9781938168246

Publisher: OpenStax

Language: English

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Reviewed by Zhongjin Li, Assistant Professor, University of Missouri - Kansas City on 12/14/18

The textbook covers most of the intro-level standard microeconomic materials and provides students a relatively full picture of the microeconomic landscape with real-world examples. I do hope it can incorporate more heterodox and historical... read more


Reviewed by Pablo Hernandez, Associate Professor of Economics, Hollins University on 5/21/18

This OER text offers readers a comprehensive breadth of topics from an introductory standard microeconomics perspective. This text features a table of contents, index, end-of-chapter key terms, and a comprehensive chapter/topic list of references. read more


Reviewed by Aida Odobasic, Assistant Professor , University of Delaware on 2/1/18

Principles of Microeconomics textbook covers the breath of microeconomic topics from introduction to the subject, to development of the main model of demand and supply, fundamentals of the microeconomics theory, microeconomic policy issues, and... read more


Reviewed by John Brouwer, Principal, Eton College on 5/8/17

The text covers all the areas and ideas of Macroeconomics that one would expect to find at the introductory level. The subjects are clear, easy to follow, relevant with applied examples. Global examples are used through the lens of US laws and... read more


Reviewed by Joseph Schoen, Lecturer, Anoka-Ramsey Community College on 4/11/17

The textbook covers the major content areas covered in a Principle of Microeconomics course. The index and the glossary are just as good, if not better, than those found in other textbooks. On top of the topics you come to expect in any... read more


Reviewed by Anna Antus, Adjunct Professor, North Hennepin Community College on 4/11/17

The textbook is very comprehensive. It covers all topics covered in most principle of microeconomics courses and more. It has great index of the whole textbook and glossary attached to each chapter. It provides with good order of all major areas... read more


Reviewed by Janice Kinghorn, Senior Lecturer, Miami University on 8/21/16

The text covers all the learning objectives required for an introductory microeconomic theory course. Examples extend the content to topics such as supply and demand in financial and labor markets, and antitrust policy. Additional chapters at... read more


Reviewed by Alexandra Nica, Lecturer, The University of Iowa on 1/7/16

The textbook overall is very comprehensive, it covers all the areas of study and concepts that are typically covered in a Principles of Microeconomics course. The amount of information included in this book is impressive and some of the chapters... read more


Table of Contents

Chapter 1: Welcome to Economics!

Chapter 2: Choice in a World of Scarcity

Chapter 3: Demand and Supply

Chapter 4: Labor and Financial Markets

Chapter 5: Elasticity

Chapter 6: Consumer Choices

Chapter 7: Cost and Industry Structure

Chapter 8: Perfect Competition

Chapter 9: Monopoly

Chapter 10: Monopolistic Competition and Oligopoly

Chapter 11: Monopoly and Antitrust Policy

Chapter 12: Environmental Protection and Negative Externalities

Chapter 13: Positive Externalities and Public Goods

Chapter 14: Poverty and Economic Inequality

Chapter 15: Issues in Labor Markets: Unions, Discrimination, Immigration

Chapter 16: Information, Risk, and Insurance

Chapter 17: Financial Markets

Chapter 18: Public Economy

Chapter 19: International Trade

Chapter 20: Globalization and Protectionism

About the Book

Principles of Microeconomicscovers the scope and sequence for a one-semester economics course. The text also includes many current examples, including; the Keystone Pipeline, Occupy Wall Street, and debates over the minimum wage.

The pedagogical choices, chapter arrangements, and learning objective fulfillment were developed and vetted with feedback from educators dedicated to the project. The outcome is a balanced approach to economics and to the theory and application of economics concepts. Current events are treated in a politically-balanced way, as well.

Note:Principles of MicroeconomicsPDF and web view versions have been updated to include current FRED (Federal Reserve Economic) data.

OpenStax College has compiled many resources for faculty and students, from faculty-only content to interactive homework and study guides.

About the Contributors


Senior Contributing Author

Timothy Taylor, Macalester College

Senior Content Expert

Steven A. Greenlaw, University of Mary Washington

Senior Contributors

Eric Dodge, Hanover College

Cynthia Gamez, University of Texas at El Paso; El Paso Community College

Andres Jauregui, Columbus State University

Diane Keenan, Cerritos College

Dan MacDonald, California State University San Bernardino

Amyaz Moledina, The College of Wooster

Craig Richardson, Winston-Salem State University

David Shapiro, Pennsylvania State University

Ralph Sonenshine, American University