Introduction to Microeconomics

Companion Website: chapter slides, interactive applets, and a self-check tutor

Felix Muñoz-Garcia · Washington State University

Chapter slides (PDF)

Chapter 1 Thinking Like an Economist
Chapter 2 Supply and Demand
Chapter 3 Elasticity and Its Applications
Chapter 4 Government in the Market: Price Controls, Taxes, and Subsidies
Chapter 5 Consumer Preferences
Chapter 6 Consumer Choice, Demand, and Welfare
Chapter 7 Choice under Risk and Uncertainty
Chapter 8 Production
Chapter 9 The Costs of Production
Chapter 10 Perfect Competition
Chapter 11 Monopoly and Market Power
Chapter 12 Pricing Strategies: Price Discrimination and Bundling
Chapter 13 Game Theory I (Simultaneous-Move Games)
Chapter 14 Game Theory II (Sequential and Repeated Games)
Chapter 15 Oligopoly and Imperfect Competition
Chapter 16 Asymmetric Information
Chapter 17 Auctions and Bidding Strategies
Chapter 18 Externalities, Public Goods, and Common Resources

Interactive applets

Chapter 1 Production Possibilities Frontier : slider on computer output; watch wheat give way and opportunity cost rise.
Chapter 2 Comparative Statics: Shift the Curves : shift supply or demand and watch the new equilibrium form.
Chapters 2, 4 Supply, Demand, and a Tax : coffee market; add a tax and watch the wedge open and the deadweight loss appear.
Chapter 3 Elasticity and Total Revenue : slide the price; revenue peaks exactly where demand is unit elastic.
Chapter 4 Price Ceiling and Price Floor : set a ceiling or floor and see the shortage, surplus, and deadweight loss.
Chapter 5 Indifference Curves and MRS : drag along an indifference curve and watch the marginal rate of substitution fall.
Chapter 6 Budget Line and Optimal Choice : slide the price of x; the budget pivots and the tangency traces out demand.
Chapter 6 Income and Substitution Effects : a price change split into the substitution and income effects on the diagram.
Chapter 7 Risk Premium and Certainty Equivalent : slide the probability; the gap between the chord and the curve is the risk premium.
Chapter 8 Production Function : slide labor input and watch total, marginal, and average product; diminishing returns visible.
Chapter 9 The Firm's Cost Curves : MC cuts through the bottom of both AVC and ATC as fixed cost spreads thin.
Chapter 10 Competitive Firm's Output Choice : slide the market price; the firm picks P = MC and profit or loss is shaded.
Chapter 10 Long-Run Competitive Entry : add firms and watch entry drive the price to minimum average total cost.
Chapter 11 The Monopolist's Choice : slide marginal cost; the monopolist picks where MR = MC.
Chapter 12 Third-Degree Price Discrimination : two markets, one slider; the monopolist charges more where demand is steeper.
Chapter 13 2×2 Game Solver : edit payoffs or load a preset; the solver highlights best responses and Nash equilibria.
Chapter 14 Backward Induction : step through a game tree; the algorithm works backwards to find the subgame-perfect equilibrium.
Chapter 15 Cournot Best Responses : two reaction lines cross at the Nash equilibrium.
Chapter 15 Stackelberg Leader-Follower : the leader picks first; compare its advantage to the symmetric Cournot outcome.
Chapter 16 Adverse Selection (Lemons) : slide the quality mix and watch the market unravel when buyers cannot tell good from bad.
Chapter 17 Auctions: First-Price vs. Second-Price : compare bidding strategies; truthful bidding dominates in a second-price auction.
Chapter 18 Externality and the Corrective Tax : a Pigouvian tax equal to the external harm closes the gap.

Multiple-choice tutor

All chapters Web-based practice tutor : adaptive multiple-choice practice with instant feedback and weak-spot review.

Every applet is a single self-contained HTML file with no external dependencies. The book also carries in-text Explore the Data boxes that link out to public data sources (FRED, the Bureau of Labor Statistics, Our World in Data, the FDA, the EPA, the Bureau of Transportation Statistics) and Run It Yourself boxes that link to Charles Holt's free Veconlab platform for classroom experiments. Those are external websites, not files on this companion site.