Microeconomics, Global Edition, 9th edition

Published by Pearson (May 30, 2023) © 2023

  • Jeffrey M. Perloff University of California-Berkeley

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  • Solved problems
  • End-of-chapter questions

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Title overview

For courses in intermediate microeconomics.

Using microeconomics to analyse and resolve real-world policy and business problems. Microeconomics presents economic theory in the context of real, data-driven examples, and then develops students' intuition through Solved Problems. The text places emphasis on modern theories that are useful in analysing actual markets, while a step-by-step problem-based learning approach demonstrates how to use these theories to solve business problems and analyse policy.

The 9th Edition, Global Edition, has been substantially updated with new or revised examples, applications and problems so students can see how real-world decisions being made in today's firms and policy debates.

Key features

  • Balanced coverage of both traditional theories (consumer theory, theory of the firm, and perfect competition) and modern theories (game theory, strategies, uncertainty, and moral hazard) is presented.
  • A 5 Cross-Chapter Analysis creates crucial links between core theories covered in separate chapters. It combines Applications with Solved Problems to give students hands-on practice to sharpen their analytical and quantitative skills.
  • What-If Policy Analysis. Economic models are used to probe the likely outcomes of changes in public policies such as taxes, subsidies, barriers to entry, price floors and ceilings, quotas and tariffs, zoning, pollution controls and more.

New to this edition

  • Every chapter has been extensively rewritten to make it easier to read and contains new and updated material. Topics include government policies, international climate agreements, income tax and more.
  • Real-World Examples use real people, companies, and data to illustrate microeconomic theory.
  • 142 Challenges present information and a series of questions about important, current real-world issues.
  • Solved Problems provide students with a step-by-step model for working out qualitative and quantitative problems.
  • End-of-Chapter Questions draw from real-life events and issues from newspapers, journal articles and other sources.
  • This edition contains 5 new features: Common Confusion, Thinking Critically About a Current Event, Interactive Figures, Spreadsheet Exercises, and Review Questions.

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Table of contents

  • Introduction
  • Supply and Demand
  • Applying the Supply-and-Demand Model
  • Consumer Choice
  • Applying Consumer Theory
  • Firms and Production
  • Costs
  • Competitive Firms and Markets
  • Applying the Competitive Model
  • General Equilibrium and Economic Welfare
  • Monopoly
  • Pricing and Advertising
  • Oligopoly and Monopolistic Competition
  • Game Theory
  • Factor Markets
  • Interest Rates, Investments, and Capital Markets
  • Uncertainty
  • Externalities, Open-Access, and Public Goods
  • Asymmetric Information
  • Contracts and Moral Hazards
  • Answers to Selected Questions and Problems

Author bios

Jeffrey M. Perloff is a professor in the Department of Agricultural and Resource Economics at the University of California at Berkeley. His economic research covers industrial organisation, marketing, labor, trade and econometrics. His textbooks are Modern Industrial Organization (with Dennis Carlton), Microeconomics, Microeconomics: Theory and Applications with Calculus, Estimating Market Power and Strategies (with Larry Karp and Amos Golan), and Managerial Economics and Strategy (with James Brander). He has been an editor of Industrial Relations and the Journal of Industrial Organization Education, and an associate editor of the American Journal of Agricultural Economics and the Journal of Productivity Analysis. He has consulted with nonprofit organisations and government agencies (including the Federal Trade Commission and the Departments of Commerce, Justice, and Agriculture) on topics ranging from a case of alleged Japanese television dumping to the evaluation of social programs. He has also conducted research in psychology. 

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