Microeconomics, Global Edition
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Microeconomics, Global Edition

Daron Acemoglu, David Laibson, John List

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  1. 512 pages
  2. English
  3. PDF
  4. Available on iOS & Android
eBook - PDF
No longer available

Microeconomics, Global Edition

Daron Acemoglu, David Laibson, John List

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For courses in Principles of Microeconomics.

An evidence-based approach to economics

Throughout Microeconomics, 2nd Edition, authors Daron Acemoglu, David Laibson, and John List use real economic questions and data to help students learn about the world around them. Taking a fresh approach, they use the themes of optimization, equilibrium, and empiricism to not only illustrate the power of simple economic ideas, but also to explain and predict what's happening in today's society. Each chapter begins with an empirical question that is relevant to the life of a student, and is later answered using data in the Evidence-Based Economics feature. As a result of the text's practical emphasis, students will learn to apply economic principles to guide the decisions they make in their own lives.

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Information

Publisher
Pearson
Year
2018
ISBN
9781292214412
Edition
2
Topic
Economics
Subtopic
Microeconomics
Index
Economics
76
Optimization: 
Doing 
the 
Best 
You 
Can
3 
How 
does 
location 
affect 
the 
rental 
cost 
of 
housing?
CHAPTER
OUTLINE
Optimization: 
Choosing 
the 
Best 
Feasible 
Option
3.1 
Optimization 
Application: 
Renting 
the 
Optimal 
Apartment
3.2 
How 
does 
location 
affect 
the 
rental 
cost 
of 
housing?
EBE
3.3 
Optimization 
Using 
Marginal 
Analysis
Suppose 
you 
have 
just 
landed 
a 
job 
near 
the 
cen-
ter 
of 
a 
city 
and 
you 
now 
need 
to 
decide 
where 
to 
live. 
If 
you 
live 
close 
to 
the 
city 
center, 
your 
round-trip 
commute 
will 
be 
15 
minutes. 
If 
you 
live 
in 
the 
distant 
suburbs, 
your 
round-trip 
commute 
will 
be 
60 
minutes. 
Where 
will 
the 
apartments 
be 
relatively 
less 
expensive? 
How 
will 
you 
choose 
where 
to 
live? 
How 
should 
you 
make 
the 
best 
deci-
sion 
given 
the 
trade-offs 
you 
face?
In 
this 
chapter, 
we’ll 
dig 
into 
the 
concept 
of 
optimization—choosing 
the 
best 
feasible 
option. 
You 
will 
learn 
how 
to 
optimize 
by 
using 
cost-benefit 
analy-
sis. 
And 
we 
will 
apply 
this 
knowledge 
to 
an 
example 
that 
we 
revisit 
throughout 
the 
chapter—choosing 
an 
apartment.

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