Textbook in PDF format

The authors bring new microeconomics to life for students: exploring the enduring challenge of how best to organize the way we make our living initially raised by the classical economists, addressed with modern-day analytical techniques that researchers and policymakers use
Beautifully written and enriched with a problem-based and student-centered pedagogy, the authors reach out to students by anticipating the content that they are likely to find most challenging
The material places emphasis on real applications to matters of public policy, to help students appreciate the strengths and limitations of economic models, and elucidate the topics that they care about - such as inequality, the environment, and modern monopoly
Empirically-based examples feature throughout, motivating the models and concepts
An actor-based approach drawing on behavioral economics, game theory, mechanism design, and incomplete contracts to understand strategic interactions between buyers and sellers, banks and borrowers, employers, and workers. Provides the microeconomics of such basic macroeconomic essentials as equilibrium unemployment, credit constraints and the Keynesian multiplier, and the effect of monetary policy on investment
People, Economy, and Society
Society: coordination problems and economic institutions
People: preferences, beliefs, and constraints
Doing the best you can: constrained optimization
Property, power, and exchange: mutual gains and conflicts
Coordination failures and institutional responses
Markets for Goods and Services
Production: technology and specialization
Demand: Willingness to pay and prices
Supply: firms' costs, output, and profit
Competition, rent-seeking, and market equilibration
Markets with Incomplete Contracting
Information: contracts, norms, and power
Work, wages, and unemployment
Interest, credit, and wealth constraints
Economic Systems and Policy
A risky and unequal world
Perfect competition and the invisible hand
Capitalism: innovation and inequality
Public policy and mechanism design