Microeconomics (5th Edition)

This book teaches microeconomics as a way of looking at the world, using plenty of new applications and examples to demonstrate the theory. Because it uses calculus (only in footnotes), this book is considered to be in the upper mid-range in its mathematical rigor. An optimal balance of theory and applications is maintained by working from the specific to the general—with many lively and interesting examples used as a means of developing economic theory in a careful and rigorous way. A seven-part organization covers numerous topics under the headings of: an introduction to microeconomics, individual choice, production and cost, markets for goods, resource markets and general equilibrium, imperfect competition, and uncertainty and asymmetric information. For individuals trying to apply the theory of microeconomics to the economics of the real world.