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Microeconomics: A Contemporary Introduction, 11th Edition

William A. McEachern

  • Copyright 2017
  • {{checkPublicationMessage('Published', '2016-01-01T00:00:00+0000')}}
Starting At $84.95 See pricing and ISBN options
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Microeconomics: A Contemporary Introduction 11th Edition by William A. McEachern
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Overview

Now you can "teach by example" with the unique approach to economics found only in McEachern's acclaimed MICROECONOMICS: A CONTEMPORARY INTRODUCTION, 11E. The text uses examples and illustrations that your students will recognize when they show up for class the first day, because they already have at least 17 years of personal experience with economic choices, institutions, and events. This book truly leads by example, taking a "just-in-time" approach that introduces material just as it is needed to develop an argument. Clear and interesting exposition combines with case studies, recent research findings, and a focused design. Relevant case studies are integrated into the flow of each chapter. Each chapter includes a one-page case study in the printed book as well as a second case study online. The book's well-crafted approach is enhanced with resources, such as Aplia® and MindTap, that help improve student understanding and help you streamline tasks and save valuable time.

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Meet the Authors

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William A. McEachern

Dr. William A. McEachern began teaching large sections of economic principles shortly after joining the University of Connecticut. Several years later, he began offering teaching workshops around the country. The University of Connecticut Alumni Association conferred on him its Faculty Excellence in Teaching Award in 2000. He previously won the Association's award for Distinguished Public Service. Dr. McEachern has published books and monographs on public finance, public policy and industrial organization, including MANAGERIAL CONTROL AND PERFORMANCE (D.C. Heath and Company). His research has also appeared in edited volumes, such as READINGS IN PUBLIC CHOICE ECONOMICS (University of Michigan Press), INTERNATIONAL HANDBOOK ON TEACHING AND LEARNING ECONOMICS (Edward Elgar Publishing) and RETHINKING ECONOMIC PRINCIPLES (Irwin Publishing). He has also been published in a variety of refereed journals, including Economic Inquiry, National Tax Journal, Quarterly Review of Economic and Business, Journal of Industrial Economics, Kyklos, Econ Journal Watch and Public Choice. His principles of economics textbooks have been translated into Spanish, Chinese and Bahasa Indonesia and have been adapted for Australia and India. He is the founding editor of The Teaching Economist, a newsletter that for a quarter of a century has focused on teaching economics at the college level. Dr. McEachern has advised federal, state and local governments on policy matters and has been quoted in media such as the New York Times, Times of London, Wall Street Journal USA Today and Reader's Digest. He earned an undergraduate degree with honors from College of the Holy Cross, served three years as a U.S. Army officer and earned an M.A. and Ph.D. in economics from the University of Virginia.

What's New

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  • THE MOST RECENT EXAMPLES AND RELEVANT, SUPPORTING RESEARCH KEEP STUDENTS ENGAGED. To help your students better understand microeconomic concepts, updates to examples and research published since the previous edition went to press are presented in simple, clear language. All examples keep microeconomic material engaging and relevant to your students' lives. Brief definitions, section titles, exhibit titles, and captions are direct and to the point to keep students' attention.
  • OVERARCHING THEME HIGHLIGHTS THE IMPACT OF TECHNOLOGY IN ALL ASPECTS OF ECONOMIC LIFE. From Spotify or the price elasticity of e-books to smart apps for tracking fitness and nutrition or the effect of the Internet on labor productivity, this edition discusses how technological developments directly impact production, employment, sales, and consumption.
  • EMPHASIS ON TODAY'S MOST RECENT RESEARCH REINFORCES KEY ECONOMIC PRINCIPLES. This edition draws on recent research to stimulate your students' interest, to reinforce economic principles, and, in a few cases, to offer an alternative perspective. The edition cites and discusses more than 150 studies published after the previous edition went to press. The author has selected these studies from his review of more than a thousand relevant publications.
  • NEW TOPICS INTRODUCE FRESH MICROECONOMICS PERSPECTIVES. Students examine how some not-for-profit hospitals employ more people than some major corporations (Ch. 3) how easy online price comparisons have made demand more price sensitive (Ch. 5); and how strong brand loyalty even passes across family generations (Ch. 10).; They also study why labor unions have failed in high-tech industries (Ch. 12) and how developing economies present challenges for franchise operators, such as KFC (Ch. 33).
  • NEW PROGRESSION GRAPHS ONLINE SOFTWARE HELPS CLARIFY UNDERSTANDING. Students can now build the more challenging graphs in the book one step at a time using the book's new online software, Progression Graphs.

Features

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  • BOOK IS FULLY INTEGRATED WITH APLIA®, THE MOST SUCCESSFUL ONLINE PRODUCT FOR ECONOMICS. Aplia® offers interactive tools to help better prepare microeconomics students. For you, the instructor, Aplia® provides access to high-quality, auto-graded assignments that ensure your students put forth effort on a regular basis throughout the term.
  • MINDTAP® OFFERS A PERSONALIZED TEACHING EXPERIENCE THAT GUIDES STUDENTS IN ANALYZING, APPLYING, AND IMPROVING THINKING. Measure skills and outcomes with ease. Personalized teaching becomes yours through a Learning Path built with key student objectives and your syllabus in mind. Control what students see and when they see it. Relevant readings, multimedia, and activities take students from basic knowledge to analysis and application. Analytics and reports provide a snapshot of class progress, time in course, engagement and completion rates.
  • CLEAR, COLOR-CODED GRAPHS ENHANCE UNDERSTANDING. Special care has been taken to ensure all graphics are understandable with curves that are systematically color-coded to enhance student understanding.
  • "TO REVIEW" ENSURES STUDENT COMPREHENSION. These helpful sections sum up lengthy concepts. Brief one-sentence questions, inserted into the flow of the text, make certain that students comprehend the microeconomics concepts they're studying and are ready to continue through the material.
  • MCEACHERN LEADS BY EXAMPLE. The author introduces each microeconomic idea by using common everyday student experiences to bridge the gap between what students already know and the unfamiliar world of economics.
  • "CHECKPOINT QUESTIONS" HELP ASSESS RECALL. After each major section, your students are asked a key "Checkpoint Question" to help evaluate how well they recall and understand what they just read.
  • END-OF-CHAPTER QUESTIONS AND PROBLEMS ARE CLEARLY IDENTIFIED BY CHAPTER CONCEPTS. These questions and problems that correspond with major concepts give you flexibility for easier assignments while helping students find the specific material they need to review if a question or problem gives them difficulty.

Table of Contents

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1. The Art and Science of Economic Analysis.
2. Some Tools of Economic Analysis.
3. Economic Decision Makers.
4. Demand and Supply Analysis.
5. Elasticity of Demand and Supply.
6. Consumer Choice and Demand.
7. Production and Cost in the Firm.
8. Perfect Competition.
9. Monopoly.
10. Monopolistic Competition and Oligopoly.
11. Resource Markets.
12. Labor Markets and Labor Unions.
13. Capital, Interest, Entrepreneurship, and Corporate Finance.
14. Transaction Costs, Asymmetric Information, and Behavioral Economics.
15. Economic Regulation and Antitrust Policy.
16. Public Goods and Public Choice.
17. Externalities and the Environment.
18. Poverty and Redistribution.
19. International Trade.
20. International Finance.
21. Economic Development.

Compare Buying Options

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MindTap Options

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MindTap
Each MindTap product offers the full, mobile-ready textbook combined with superior and proven learning tools at one affordable price. Students who purchase digital access can add a print option at any time when a print option is available for their course.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

Standalone Digital Access — Ultimate Value

Recommended and most popular

  • ISBN-10: 1305650190
  • ISBN-13: 9781305650190
  • RETAIL $84.95
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Students: Buy now

Textbook Only Options

Traditional eBook and Print Options

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  • ISBN-10: 0357687744
  • ISBN-13: 9780357687741
  • RETAIL $84.95

  • ISBN-10: 1305505530
  • ISBN-13: 9781305505537
  • RETAIL $259.95
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Supplements

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Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

FOR INSTRUCTORS

MindTap Economics, 1 term (6 months) Instant Access for McEachern's Microeconomics: A Contemporary Introduction

ISBN: 9781305650190
MindTap Economics for McEachern's Microeconomics: A Contemporary Introduction, 11th Edition is the digital learning solution that powers students from memorization to mastery. It gives you complete control of your course—to provide engaging content, to challenge every individual, and to build their confidence. Empower students to accelerate their progress with MindTap. MindTap: Powered by You. MindTap gives you complete ownership of your content and learning experience with interactive exhibits and videos supporting the student's understanding of key economics concepts. Unique tools support mastery of economics going into the test. Customize the interactive syllabi, emphasize the most important topics, and add your own material or notes in the eBook.

FOR STUDENTS

MindTap Economics, 1 term (6 months) Instant Access for McEachern's Microeconomics: A Contemporary Introduction

ISBN: 9781305650190
MindTap Economics for McEachern's Microeconomics: A Contemporary Introduction, 11th Edition is the digital learning solution that powers students from memorization to mastery. It gives you complete control of your course—to provide engaging content, to challenge every individual, and to build their confidence. Empower students to accelerate their progress with MindTap. MindTap: Powered by You. MindTap gives you complete ownership of your content and learning experience with interactive exhibits and videos supporting the student's understanding of key economics concepts. Unique tools support mastery of economics going into the test. Customize the interactive syllabi, emphasize the most important topics, and add your own material or notes in the eBook.