Microeconomics [antikvár]

Preface From the beginning, our goal has been to write a text which would answer the needs of students and instructors concerning the well-established as well as the controversial topics in economics. To accomplish this goal, we believe that a beginning text should be (1) open-minded and searching for the best in all schools of thought where there is disagreement, (2) thorough and realistic in presenting material that is generally accepted, and (3) flexible and oriented to a broad view in matters liise international trade, economic development, and comparative economic systems. We have built these characteristics into our book. We believe that they make it an appropriate text for the late nineteen eighties. We also believe that they form the basis for the kind of "economic literacy" which sees the applicability of economic principles beyond the specific applications in any one topic or any one period of time. NEW FEATURES IN THE SECOND EDITION We have benefited greatly from suggestions offered by users of our first edition and have incorporated many of these ideas into our second edition. The following is a check-list of the more important new features in our second edition. ¦ Shortened and restructured introductory section. ¦ More applications of microeconomic concepts and tools. ¦ Broadened discussion of the "fourth merger wave." ¦ Up-to-date analysis of OPEC. ¦ New chapter on Government and Taxation. ¦ Expanded analysis of the shifting U.S. international trade position. ¦ New discussion of farm debt problems and U.S. farm programs. ¦ New material on China's economy under Deng Xiaoping. ¦ Several new and revised essays. ¦ Integrated study guide and testbank. ¦ New computerized ancUlaries. ORGANIZATION Introductory Chapters The first five chapters provide the basic groundwork for all that is to come. In the first chapter, we present a broad overview of economics. It goes beyond explaining what microeconomics is about, and considers alternative economic systems and several criteria for judging them. Chapter 2 introduces the "actors on the economic stage"—households, business firms, governments, and the rest of the world. This is a new chapter in the second edition, consisting of selected materials from two chapters of the intro-