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    Principles of Microeconomics

    (18 reviews)

    Timothy Taylor, Saint Paul, Minnesota

    Steven A. Greenlaw, Fredericksburg, Virginia

    Eric Dodge, Hanover, Indiana

    Copyright Year: 2014

    ISBN 13: 9781938168246

    Publisher: OpenStax

    Language: English

    Formats Available

    Conditions of Use

    Attribution Attribution
    CC BY


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    Reviewed by Yi Duan, Assistant Professor, Marshall University on 12/5/23

    The book covers all major topics in introductory microeconomics. It encompasses discussions on both theories and policies. read more

    Reviewed by Lori Lavigne, Professor, Framingham State University on 11/7/22

    The book covers all of the major topics from a intro micro course. I would consider using this text in the future. read more

    Reviewed by ATM Sayfuddin, Assistant Professor, Randolph College on 4/2/22

    The book covers almost all major areas typically contained in an introductory microeconomics textbook. However, I expected the chapter discussing "public goods" (chapter 13) to also discuss all four categories of goods - private goods, public... read more

    Reviewed by Jean-Baptiste Tondji, Assistant Professor, University of Texas Rio Grande Valley on 10/31/20

    Principles of Economics is impressive and extremely comprehensive. It covers interesting and current topics that are suitable and relevant for any principles of Microeconomics and Macroeconomics courses at the lower undergraduate level. read more

    Reviewed by Jay Leung, Instructor, Bunker Hill Community College on 7/13/20

    The textbook covers most of the intro-level mainstream microeconomic topics. An honors level microeconomics course would consider a textbook that was more advanced and in-depth. read more

    Reviewed by Damindi De Silva, Adjunct Professor, Quinsigamond Community College on 6/29/20

    The text covers all areas and ideas of the subject and provides an effective index and/or glossary. The text can be used as a required text at an Introductory level Microeconomics course at College level. read more

    Reviewed by David Ornstil, adjunct lecturer, University of Massachusetts Lowell on 6/17/20

    This principles textbook covers all areas generally taught in a principles of microeconomics course as well as including chapters on social welfare and behavioral economics. Theories are thoughtfully presented and easy to read with many examples... read more

    Reviewed by Colin Jareb, Graduate Student, University of Colorado Boulder on 6/11/20

    The textbook covers all of the sections that are expected for a principles class. Further extensions into financial markets, income inequality, and political economy are covered well. There is a nice index with links to the appropriate pages,... read more

    Reviewed by Shengnan Fang, Economics Instructor, Linn-Benton Community College on 1/9/20

    This textbook not only covers the major content for principles level class, but also introduces chapters related to industrial organization, labor economics, environmental economics and international trade. The index is hyperlinked, which is... read more

    Reviewed by Rupayan Gupta, Professor, Roger Williams University on 12/9/19

    I find the book very comprehensive. Comparing with some of the leading published textbooks the coverage and depth are both comparable. Perhaps the section on Oligopoly could be expanded a bit with a few more examples. read more

    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 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 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 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

    Ancillary Material

    • OpenStax
    • OpenStax
    • OpenStax
    • OpenStax
    • About the Book

      Principles of Economics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.

      Changes made in Principles of Economics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Economics by OpenStax is available in web view in the ancillaries

      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

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