Principles of Microeconomics (7th Edition)

Author: Carl E. Case
Publisher:
Publish Date: 2006-01-01
Features: Principles of Microeconomics, co-authored by Professor Carl E. Case of Wesleyan College and Professor Ray E. Fair of Yale University, is one of the widely adopted economics textbooks in universities across the United States. Over 1 million students worldwide have used this textbook and its companion volume, Principles of Macroeconomics. Both authors of this book have earned Ph.D. degrees in economics from Harvard University and the Massachusetts Institute of Technology, respectively, and are renowned economists. Professor Case, the author, is a member of the Economics Education Committee of the American Economic Association (AEA) and has long been teaching fundamental economics courses, accumulating extensive experience in economics education. Professor Fair, the co-author, is an expert in macroeconomic models. The book features clear and fluent language, making it easy to understand, with only elementary mathematics required. As a macroeconomics textbook that remains timeless, this book has the following characteristics:
First, it keeps pace with the times. Published in its first edition in 1996, the book has been revised multiple times over the past decade. Its well-refined structure reflects the mainstream views of microeconomics in the United States today. The seventh edition places greater emphasis on an international perspective. The growing trade in goods and services, cross-border labor mobility, and international capital flows have fundamentally transformed the global economic landscape, intensifying economic interdependence among nations and their citizens, all of which are thoroughly analyzed in this book.
Second, it adopts advanced teaching concepts. Its step-by-step structure, robust toolset, and a "story-chart-formula" three-tiered teaching model make learning macroeconomics a delightful experience.
Third, it has a mature structural system. The authors believe that the best way to understand how market economies operate and microeconomic theory is to first grasp the model of perfect competition, including output (product and service) markets and input (land, labor, and capital) markets and their interconnections, before moving on to explore imperfectly competitive markets such as oligopoly and monopoly markets. This innovative approach undoubtedly makes teaching microeconomics easier. The book has been adapted by Professor Deqing Wu of the School of Business at Renmin University of China, making it an ideal bilingual textbook for undergraduate economics and management education in China. It is also suitable for MBA and EMBA-related courses and can serve as a reference book for business professionals. Readers who use this book will find that learning microeconomics requires so little effort but yields so much reward.