Parkinâ€™s Microeconomics is a worldwide leader because it provides a serious, analytical approach to the discipline using the latest policy and data. Parkin trains students to think like economists by offering a clear introduction to theory and applying the concepts to todayâ€™s events, news, and research. Introduction: What is Economics?; The Economic Problem. How Markets Work: Demand and Supply; Elasticity; Efficiency and Equity; Government Actions in Markets; Global Markets in Action. Householdsâ€™ Choices: Utility and Demand; Possibilities, Preferences, and Choices. Firms and Markets: Organizing Production; Output and Costs; Perfect Competition; Monopoly; Monopolistic Competition; Oligopoly. Market Failure and Government: Externalities; Public Goods and Common Resources. Factor Markets, Inequality, and Uncertainty: Markets for Factors of Production; Economic Inequality; Uncertainty and Information. Â For all readers interested in microeconomics.