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Principles of Microeconomics


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Synopses & Reviews

Publisher Comments:

“Are you tired of books that sacrifice clarity by introducing some of the complexities of economic theory too early?”

Case/Fair/Oster, believe that the best way to understand how market opportunities operate and the best way to understand basic economic theory is to work through the perfectly competitive model first, including discussions of output markets, input markets (land, labor & capital), and the connections between them, before turning to noncompetitive market structures, such as monopolies and oligopolies. When students understand how a simple perfectly competitive system works, they can start thinking about how the pieces of the economy fit together.  Learning perfect competition first enables students to see the power of the market system.  It is impossible to discuss the efficiency of markets as well as the problems that arise from markets until students have seen how a simple, perfectly competitive market system produces good and services.



Reviewers tell us that Case/Fair is one of the all-time bestselling POE texts because they trust it to be clear, thorough and complete.  This well-respected author team is joined for the 9th edition by a new co-author, Sharon Oster.  Sharon’s research and teaching experience brings new coverage of modern topics and an applied approach to economic theory, as demonstrated in the new Economics in Practice feature.


0138001952 / 9780138001957 Principles of Microeconomics & MyEconLab Student Access Card & MEL Package


Package consists of:   

013605885X / 9780136058854 Principles of Microeconomics

0136124755 / 9780136124757 MyEconLab Student Access Code Card (for valuepack)



Case and Fair is the trusted Microeconomics text that teaches students through stories, graphs, and equations...and now, a new emphasis on excellence in assessment.


These two highly-respected economists and educators have revised this best-selling Microeconomics book to include more current topics and events while maintaining its hallmark feature of teaching economics through stories, graphs, and equations; relevant to students with various learning styles (verbal, visual, and numerical).

About the Author

Karl E Case (Chip):  is Professor of Economics at Wellesley College where he has taught for 30 years. For two decades he has been a Visiting Scholar at the Federal Reserve Bank of Boston where he serves as a member of the Bank’s Academic Advisory Board.  Before coming to Wellesley, he served as Head Tutor in Economics (director of undergraduate studies) at Harvard, where he won the Allyn Young Teaching Prize. He was Associate Editor of the Journal of Economic Perspectives and of theJournal of Economic Education and was a member of the AEA’s Committee on Economic Education.   He teaches at least one section of the principles course every year.

o        Case is also a founding partner in the real estate research firm of Fiserv Case Shiller Weiss, Inc. and serves as a member of the Board of Directors of the Mortgage Guaranty Insurance Corporation and of the American Real Estate and Urban Economics Association.

o        He received his B.A. from Miami University in 1968, spent three years on active duty in the Army, and received his Ph. D. in economics from Harvard University in 1976. 

o        Professor Case’s research has been in the areas of real estate, housing and public finance. He is author or co-author of five books including Principles of Economics, Economics and Tax Policy and Property Taxation:  The Need for Reform and has published numerous articles in professional journals.  The book he has co-authored with Ray Fair for more than eight editions now has been adopted at more than 450 colleges and universities across the country. 

o        For the last 25 years, his research has focused on real estate markets and prices.  He has authored a number of studies that attempt to isolate the causes and consequences of boom and bust real estate cycles and their relationship to economic performance. 


 Ray Fair:  is Professor of Economics at Yale University. He is a member of the Cowles Foundation at Yale and a Fellow of the Econometric Society.

o        He received a B.A. in economics from Fresno State College in 1964 and a Ph.D. in economics from M.I.T. in 1968. He taught at Princeton University from 1968 to 1974 and has been at Yale since 1974.

o        Professor Fair’s research has primarily been in the areas of macroeconomics and econometrics, with particular emphasis on macroeconometric model building. He has also done work in the areas of finance, voting behavior, and aging in sports. His publications include Specification, Estimation, and Analysis of Macroeconometric Models (Harvard Press, 1984), Testing Macroeconometric Models (Harvard Press, 1994), and Estimating How the Macroeconomy Works (Harvard Press, 2004).

o        Professor Fair has taught introductory and intermediate economics at Yale. He has also taught graduate courses in macroeconomic theory and macroeconometics. 

o        Professor Fair’s United States and multi-country models are available for use on the Internet free of charge. The address is #LINK<http://fairmodel.econ.yale.edu.># Many teachers have found that having students work with the United States model on the Internet is a useful complement to even an introductory macroeconomics course. 


Sharon Oster:  is Dean of the Yale School of Management at Yale University.  She joins the ninth edition of the Case/Fair text.

o        Sharon Oster has a B.A. in Economics from Hofstra University and a Ph.D. in Economics from Harvard University. 

o        Professor Oster’s research is in the area of industrial organization.  She has worked on problems on diffusion of innovation in a number of different industries, the effect of regulations on business, and on competitive strategy.  She has published a number of articles in these areas and is the author of several books, including Modern Competitive Analysis and The Strategic Management of Nonprofits. 

o        Prior to joining the School of Management at Yale, Professor Oster taught for a number of years in the Yale Economics department.  In the department, Professor Oster taught both introductory and intermediate microeconomics to the undergraduates as well as several graduate courses in industrial organization.  Since 1982, Professor Oster has taught primarily in the Management School, where she teaches both the core microeconomics class for the MBA students and courses in the area of Competitive Strategy.  Professor Oster also consults widely for both businesses and nonprofit organizations and has served on the boards of several publicly traded companies and nonprofit organizations.

Table of Contents

Part 1: Introduction to Economics
Ch. 1: The Scope and Method of Economics
Ch. 2: The Economic Problem: Scarcity and Choice
Ch. 3: Demand, Supply, and Market Equilibrium
Ch. 4: Demand and Supply Applications
Ch. 5: Elasticity
Part 2: The Market System: Choices Made by Households and Firms
Ch. 6: Household Behavior and Consumer Choice
Ch. 7: The Production Process: The Behavior of Profit-Maximizing Firms
Ch. 8: Short-Run Costs and Output Decisions
Ch. 9: Long-Run Costs and Output Decisions
Ch. 10: Input Demand: The Labor and Land Markets
Ch. 11: Input Demand: The Capital Market and the Investment Decision
Ch. 12: General Equilibrium and the Efficiency of Perfect Competition
Part 3: Market Imperfections and the Role of Government
Ch. 13: Monopoly and Antitrust Policy
Ch. 14: Oligopoly
Ch. 15: Monopolistic Competition
Ch. 16: Externalities, Public Goods, and Social Choice
Ch. 17: Uncertainty and Asymmetric Information
Ch. 18: Income Distribution and Poverty
Ch. 19: Public Finance: The Economics of Taxation
Part 4: The World Economy
Ch. 20: International Trade, Comparative Advantage, and Protectionism
Ch. 21: Economic Growth in Developing and Transitional Economies

Product Details

Case, Karl E
Academic Internet Publishers
Oster, Sharon
Cram101 Textbook Reviews
Fair, Ray C.
Case, Karl E.
Economics - Microeconomics
Economics - General
Edition Number:
Edition Description:
Trade paper
MyEconLab Series
Publication Date:
May 2006
Grade Level:
College/higher education:
10.7 x 8.5 x 0.8 in 1089 gr

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Principles of Microeconomics Used Trade Paper
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Product details 528 pages Prentice Hall - English 9780131994850 Reviews:
"Synopsis" by ,

Case and Fair is the trusted Microeconomics text that teaches students through stories, graphs, and equations...and now, a new emphasis on excellence in assessment.


These two highly-respected economists and educators have revised this best-selling Microeconomics book to include more current topics and events while maintaining its hallmark feature of teaching economics through stories, graphs, and equations; relevant to students with various learning styles (verbal, visual, and numerical).

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