Microeconomics

Revised Chapter-Opening Stories feature issues that consumers, voters, businesspeople, and family members face, and they are presented in an engaging, journalistic style.

Updated International and Canadian Context. Karlan uses real-life examples and case studies from developing economies around the world, and reflects upon how they can be understood from within a Canadian as well as a global context.

Expanded End-of-Chapter Problems. Connect for Microeconomics provides assignable, gradable end-of chapter content to help students learn how to solve problems and apply concepts. Advanced algorithms allow students to practice problems multiple times to ensure full comprehension of each problem.

Econ and YOU boxes are new to this edition and have been created to show students how they might apply economics in their personal decisions. Topics included in this new boxed feature include personal finance, raising a family, unpaid internships, among others. We weave these every day scenarios with economic principles to help students develop economic intuition.

New Connect Interface. Featuring significant improvements to instructor workflows in Connect, with new features designed to make course management easier:

• NEW! Add Co-Instructors to a Section. Instructors can easily add additional instructors to any section.
• Updated Section Dashboard. The redesigned section dashboard surfaces important information about student performance and assignments without additional clicks.
• NEW! Optimized for Mobile and More Accessibility. Automatic resizing of screen for tablets and smart phones. New pages are screen reader compatible, keyboard navigable, and have up to 400% magnification.
• NEW! Assignments Tab. Provides a clean interface with the ability to view important assignment information without additional clicks. Quickly view information such as assignment types, proctored assignments, and assignments that require manual grading.

Modern Approach. Karlan/Morduch demonstrates how students can use basic economic principles to understand, analyze, and solve problems in their everyday life and around the world. This approach is implemented by presenting examples and applications first to explain economics principles, by taking students through the process of engaging with real problems, using analytical tools to devise solutions, and ultimately showing what works and why.

Current and Relevant. The text is current in its content, method, and media. While remaining faithful to the core principles of economics, the authors also seek to share with students some of the ways that new ideas are expanding the "basics" of economic theory. Karlan recognizes and explains the rise of game theory, behavioural economics, and experimental and empirical approaches, in ways that matter to students.

Global Perspective. Students live in a digital, globalized world. Real life examples and case studies are featured from economies around the world, with Canada as a leading example. Recognizing that students are knowledgeable and care about both local and international issues, Karlan/Morduch integrates diverse and engaging 'naturally international' examples.

Principles As Analytic Tools for Real Situations. The text is centred on examples and issues that resonate with students' experience. Applications come first, reinforcing the relevance of the tools that students acquire. Engaging empirical cases are interspersed throughout the content. The applications open up puzzles, anomalies, and possibilities that basic economic principles help explain. The aim is, first and foremost, to ensure that students gain an intuitive grasp of basic ideas.

High Quality Problem Material. Karlan/Morduch provides a variety of end-of-chapter material to engage and support student learning, including Review Questions, and Problems and Applications. The material ranges from straightforward questions about theories or formulas, to more open-ended questions, and to more quantitative problems based on real life examples or referencing graphs and charts that appear in the text chapter.

Special Pedagogical Features. Interesting examples open each chapter, and pedagogical special features, including Real Life (short case or policy question, findings from history or academic studies, and anecdotes from the field); From Another Angle (different ways of looking at an economic concept); What Do You Think? and Where Can It Take You? (asks students to use economic analysis and normative arguments to defend a position); Potentially Confusing (calls attention to common misunderstanding); and Concept Checks have been incorporated to build interest and support student learning.

SmartBook 2.0. Available within Connect, SmartBook 2.0 personalizes learning to individual student needs, continually adapting to pinpoint knowledge gaps and focus learning on concepts requiring additional study. For instructors, SmartBook tracks student progress and provides insights that guide teaching strategies and advanced instruction, for a more dynamic class experience.