Microeconomics in Context lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Macroeconomics in Context, the book is uniquely attuned to economic, social, and environmental realities. The "In Context" books offer affordability, accessible presentation, and engaging coverage of current policy issues from economic inequality and global climate change to taxes and globalization.
Key features include:
Clear explanations of basic concepts and analytical tools, with advanced models presented in optional chapter appendices;
Presentation of policy issues in historical, environmental, institutional, social, political, and ethical contexts-an approach that fosters critical evaluation of the standard microeconomic models, such as welfare analysis, labor markets, and market competition;
A powerful graphical presentation of various measures of well-being in the United States and other countries, including income inequality, taxes, educational attainment, and environmental quality;
Broad definitions of well-being using both traditional economic metrics and factors such as environmental quality, health, equity, and political inclusion;
Significantly revised chapters on globalization and trade, economic and social inequality, labor markets, and public goods;
Expanded coverage of high-interest topics such as behavioral economics, labor markets, and economic discrimination;
Full complement of instructor and student support materials online.
This new edition also features more international data and analysis, and further material on the importance of economic power in shaping policy. The latest addition to the "In Context" series combines real-world relevance with a thorough grounding in multiple economic paradigms.
The book's companion website is available at: http://www.bu.edu/eci/education-materials/textbooks/microeconomics-in-context/
"In my endorsement of the previous edition of Microeconomics in Context, I called it 'hands down the best'. This new edition is even better. Not only is it still very accessible to students, but it is even more highly relevant. The authors present the economy as fully embedded in its wider context - social, political, historical, and environmental - and then bring in a rich understanding of economic theory to help us not only to understand the world, but also to change it."
--Professor Judith Robinson, Castleton State College
"This textbook shifts our thinking and teaching about microeconomics! The integration of cutting-edge economic insights and applications to underexplored issues of unpaid labor, inequality, climate change, and globalization makes the book relevant and engaging. With this contextual approach and the tools offered, we are better equipped to promote improvements in societal well-being."
-- Professor Fiona MacPhail, University of Northern British Columbia
