INSTRUCTORS MANUAL for Microeconomics for Life Smart Choices for You 1st Edition By Avi Cohen, Scott Wolla
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- Pages
- 279
- File size
- 3.8 MB
- Format
- Digital PDF
- Course
- Microeconomics
- Category
- INSTRUCTOR MANUALS
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About this ebook
INSTRUCTORS MANUAL for Microeconomics for Life: Smart Choices for You (1st U.S. Edition) by Avi Cohen and Scott Wolla is structured around 15 chapters. The textbook utilizes a Literacy-Targeted (LT) approach, focusing on core practical decision-making for consumers, business owners, and citizens. [1, 2, 3, 4]
The book is organized into the following chapters and core topics: [1]
Part 1: The Basics of Smart Choices
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- Chapter 1: What’s in Economics for You? – Covers scarcity, opportunity cost, trade-offs, and economic modeling. [1]
- Chapter 2: Making Smart Choices: The Law of Demand – Explores consumer choice, marginal benefits, preferences, and the foundations of demand. [1, 2]
- Chapter 3: Show Me the Money: The Law of Supply – Focuses on opportunity costs, sunk costs, marginal opportunity costs, and production supply. [1, 2]
- Chapter 4: Coordinating Smart Choices: Demand and Supply – Looks at how markets operate, price signals, and market equilibrium. [1, 2]
- Chapter 5: Just How Badly Do You Want It? Elasticity – Examines price responsiveness and demand/supply sensitivity. [1, 2]
- Chapter 6: What Gives When Prices Don’t? Government Policy Choices – Focuses on price controls (ceilings and floors), taxes, and policy impacts. [1, 2]
Part 2: Microeconomic Foundations & Market Structures
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- Chapter 7: Getting the Most Bang per Buck: Utility behind Demand – Digs deeper into consumer utility maximization and introductory behavioral economics.
- Chapter 8: Finding Producers' Bottom Line: Profits and Cost Behind Supply – Addresses explicit vs. implicit costs, economic profit, and firm cost structures.
- Chapter 9: Pricing Power: Market Structure and Pricing – Introduces different types of markets and how firms establish pricing power.
- Chapter 10: What’s Perfect About Perfect Competition? Productivity, Costs, and Efficiency – Explores competitive markets, efficiency, and ideal market operations.
- Chapter 11: Pricing for Profits in Imperfect Competition: Marginal Revenue and Marginal Cost – Breaks down profit maximization under monopolistic competition and oligopoly using MR=MC. [1, 2, 3, 4]
Part 3: Market Failures, Government, and the Global Economy
- Chapter 12: When Markets Fail: Natural Monopoly, Gaming, Competition, and Government – Examines anti-competitive behavior, game theory, and antitrust regulations.
- Chapter 13: Acid Rain on Others' Parades: Externalities, Carbon Taxes, Free Riders, and Public Goods – Addresses spillover impacts, public goods, and market interventions like carbon taxes.
- Chapter 14: What Are You Worth? Inputs, Incomes, and Inequality – Covers labor and input markets, wage determination, and wealth inequality.
- Chapter 15: Are Sweatshops all Bad? Globalization, Trade, and Protectionism – Focuses on international trade, tariffs, comparative advantage, and protectionist policies. [1, 2, 3]
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