Microeconomics: improve your world

Cover -- Title -- Copyright -- Dedication -- Author the Authors -- Brief Contents -- Improve your world -- Inspire Student Learning -- Digital Solutions -- Connect -- Detailed Content Changes -- Acknowledgments -- Detailed Contents -- Feature Boxes -- Part 1: The Power of Economics -- Chapter 1: Economics and Life -- Making an Impact with Small Loans -- The Basic Insights of Economics -- Scarcity -- Opportunity cost and marginal decision making -- Incentives -- Efficiency -- An Economist's Problem-Solving Toolbox -- Correlation and causation -- Models -- Positive and normative analysis -- Conclusion -- Chapter 2: Specialization and Exchange -- The Origins of a T-Shirt -- Production Possibilities -- Drawing the production possibilities frontier -- Choosing among production possibilities -- Shifting the production possibilities frontier -- Absolute and Comparative Advantage -- Absolute advantage -- Comparative advantage -- Why Trade? -- Specialization -- Gains from trade -- Comparative advantage over time -- Conclusion -- Appendix A: Math Essentials: Understanding Graphs and Slope -- Creating a Graph -- Graphs of one variable -- Graphs of two variables -- Slope -- Calculating slope -- The direction of a slope -- The steepness of a slope -- Part 2: Supply and Demand -- Chapter 3: Markets -- Mobiles Go Global -- Markets -- What is a market? -- What is a competitive market? -- Demand -- The demand curve -- Determinants of demand -- Shifts in the demand curve -- Supply -- The supply curve -- Determinants of supply -- Shifts in the supply curve -- Market Equilibrium -- Reaching equilibrium -- Changes in equilibrium -- Conclusion -- Appendix B: Math Essentials: Working with Linear Equations -- Interpreting the Equation of a Line -- Turning a graph into an equation -- Turning an equation into a graph -- Equations with x and y reversed -- Shifts and Pivots.