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  • Understanding Microeconomics 2/e
  • Mohr P, Seymore R, Yu D
  • ISBN: 9780627036156
  • eISBN: N/A
  • ePub ISBN: 9780627036163
  • 296 Pages | Published: 2018

In microeconomics, the decisions and functioning of individual consumers and households (what to do, what to buy, etc.), and firms or other organisations (what goods to produce, how to produce them, what prices to charge, etc.) are considered. It includes the study of the demand, supply and prices of individual goods and services such as petrol, maize, haircuts and medical services.

Understanding microeconomics is a comprehensive introduction to microeconomics in general, set against a contemporary South African background. The easy style and many practical examples make the content extremely accessible. The book covers all the material usually prescribed for introductory courses, and it lays a solid foundation for intermediate and     advanced studies in economics. This second edition is a thoroughly revised and slightly expanded version of the original one. Examples have been adjusted (where necessary), a few new topics are introduced and review questions are provided at the end of each chapter.

A companion to this book, Understanding macroeconomics, is also available.

Philip Mohr is a retired professor of economics.

Reyno Seymore is a senior lecturer in economics at the University of Pretoria.

Derek Yu is an associate professor of economics at the University of the Western Cape.



Chapter 1 What economics is all about

Chapter 2 Important concepts, issues and relationships  

Chapter 3 Demand, supply and prices  

Chapter 4 Demand and supply in action

Chapter 5 Elasticity

Chapter 6 The theory of demand: the utility approach

Chapter 7 The theory of demand: the indifference approach  

Chapter 8 Background to supply: production and cost

Chapter 9 Market structure 1: overview and perfect competition

Chapter 10 Market structure 2: monopoly and imperfect competition  

Chapter 11 The labour market



Supplementary material available for this title includes:

• PowerPoint presentations for all chapters (the slides provided include a basic outline of the coverage of the perscribed textbook)

• Additional Review Question Test Bank with memorandum

• Additional Short Questions with memorandum

• Suggested answers to textbook questions

• Jpegs of all figures and tables

• Respondus Versions of Test Bank

• a Lecturer's Toolkit (An easily navigable word document containing suggested answers and all additional questions (short and review)).



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LSM Manual

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