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The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed. For courses in Principles of Microeconomics. An evidence-based approach to economics Throughout Microeconomics, 2nd Edition, authors Daron Acemoglu, David Laibson, and John List use real economic questions and data to help students learn about the world around them. Taking a fresh approach, they use the themes of optimization, equilibrium, and empiricism to not only illustrate the power of simple economic ideas, but also to explain and predict what’s happening in today’s society. Each chapter begins with an empirical question that is relevant to the life of a student, and is later answered using data in the Evidence-Based Economics feature. As a result of the text’s practical emphasis, students will learn to apply economic principles to guide the decisions they make in their own lives.

Microeconomics, Global Edition

• Title Page


• Copyright Page


• Dedication


• About the Authors


• Brief Contents


• Contents


• Preface


• Acknowledgments


• Global Edition Acknowledgments


• Part I: Introduction to Economics


• Chapter 1: The Principles and Practice of Economics


• 1.1. The Scope of Economics


• Economic Agents and Economic Resources


• Definition of Economics


• Positive Economics and Normative Economics


• Microeconomics and Macroeconomics


• 1.2. Three Principles of Economics


• 1.3. The First Principle of Economics: Optimization


• Trade-offs and Budget Constraints


• Opportunity Cost


• Cost-Benefit Analysis


• Evidence-Based Economics: Is Facebook Free?


• 1.4. The Second Principle of Economics: Equilibrium


• The Free-Rider Problem


• 1.5. The Third Principle of Economics: Empiricism


• 1.6. Is Economics Good for You?


• Summary


• Key Terms


• Questions


• Problems


• Chapter 2: Economic Methods and Economic Questions


• 2.1. The Scientific Method


• Models and Data


• An Economic Model


• Evidence-Based Economics: How Much More do Workers with a College Education Earn?


• Means and Medians


• Argument by Anecdote


• 2.2. Causation and Correlation


• The Red Ad Blues


• Causation versus Correlation


• Choice & Consequence: Spend Now and Pay Later?


• Experimental Economics and Natural Experiments


• Evidence-Based Economics: How Much do Wages Increase when Mandatory Schooling Laws Force People to g


• 2.3. Economic Questions and Answers


• Summary


• Key Terms


• Questions


• Problems


• Appendix: Const