The Micro Economy Today

Bradley R. Schiller has more than four decades of experience teaching introductory economics at American University, the University of Nevada, the University of California (Berkeley and Santa Cruz), and the University of Maryland. He has given guest lectures at more than 300 colleges ranging from Fresno, California, to Istanbul, Turkey. Dr. Schillers unique contribution to teaching is his ability to relate basic principles to current socioeconomic problems, institutions, and public policy decisions. This perspective is evident throughout The Economy Today. Dr. Schiller derives this policy focus from his extensive experience as a Washington consultant. He has been a consultant to most major federal agencies, many congressional committees, political candidates, and presidents. In addition, he has evaluated scores of government programs and helped design others. His studies of poverty, discrimination, training programs, tax reform, pensions, welfare, Social Security, and lifetime wage patterns have appeared in both professional journals and popular media. Dr. Schiller is also a frequent commentator on economic policy for television and radio, and his commentary has appeared in The Wall Street Journal, The Washington Post, The New York Times, and Los Angeles Times, among other major newspapers. Dr. Schiller received his Ph.D. from Harvard and his B.A. degree, with great distinction, from the University of California (Berkeley). On his days off, Dr. Schiller is on the tennis courts, the ski slopes, or the crystal-blue waters of Lake Tahoe.  Karen Gebhardt is a faculty member in the Department of Economics and is the Director of the Online Economics Program at the University of Colorado Boulder. Dr. Gebhardt has a passion for teaching economics. She regularly instructs courses in all modalities (online, on campus, hybrid, remote) from introductory courses in macro- and microeconomics, to upper-division courses in microeconomics, international trade, and managerial economics and graduate courses in environmental economics and public finance. She is an early adopter of teaching with technology and advocates strongly for it because she sees the difference it makes in student engagement and learning. Dr. Gebhardt was the recipient of the Water Pik Excellence in Education Award in 2006 and was awarded the Best Teacher Award in 2015 while she was at Colorado State University. Dr. Gebhardts research interests, publications, and presentations involve the economics and online education and the economics of humanwildlife interaction. Before returning to academia, she worked as an economist at the U.S. Department of Agriculture/Animal and Plant Health Inspection Service/Wildlife Services/National Wildlife Research Center, conducting research related to the interactions of humans and wildlife. Her current research focuses on using data to improve student learning outcomes in economics education with an emphasis on improving grades and completion rates in online courses. In her free time, Dr. Gebhardt enjoys learning about new teaching methods that integrate technology and going rock climbing and camping in the Colorado Rockies and beyond.

 PART 1: THE ECONOMIC CHALLENGE
 CHAPTER 1: ECONOMICS: THE CORE ISSUES 
Appendix: Using Graphs 
CHAPTER 2: THE U.S. ECONOMY: A GLOBAL VIEW 
CHAPTER 3: SUPPLY AND DEMAND 
CHAPTER 4: THE ROLE OF GOVERNMENT 


PART 2: PRODUCT MARKETS: THE BASICS
CHAPTER 5: CONSUMER CHOICE
Appendix: Indifference Curves 
CHAPTER 6: ELASTICITY 
CHAPTER 7: THE COSTS OF PRODUCTION 


PART 3: MARKET STRUCTURE
CHAPTER 8: THE COMPETITIVE FIRM 
CHAPTER 9: COMPETITIVE MARKETS 
CHAPTER 10: MONOPOLY 
CHAPTER 11: OLIGOPOLY
CHAPTER 12: MONOPOLISTIC COMPETITION 


PART 4: REGULATORY ISSUES
CHAPTER 13: NATURAL MONOPOLIES: (DE)REGULATION? 
CHAPTER 14: ENVIRONMENTAL PROTECTION 
CHAPTER 15: THE FARM PROBLEM 


PART 5: FACTOR MARKETS: BASIC THEORY
CHAPTER 16: THE LABOR MARKET 
CHAPTER 17: LABOR UNIONS 
CHAPTER 18: FINANCIAL MARKETS 


PART 6: DISTRIBUTIONAL ISSUES
CHAPTER 19: TAXES: EQUITY VERSUS EFFICIENCY 
CHAPTER 20: TRANSFER PAYMENTS: WELFARE AND SOCIAL SECURITY 


PART 7: INTERNATIONAL ECONOMICS
CHAPTER 21: INTERNATIONAL TRADE 
CHAPTER 22: INTERNATIONAL FINANCE 
CHAPTER 23: GLOBAL POVERTY