{"id":238,"date":"2019-05-28T14:26:59","date_gmt":"2019-05-28T18:26:59","guid":{"rendered":"https:\/\/www.bu.edu\/eci\/?page_id=238"},"modified":"2023-01-03T10:31:50","modified_gmt":"2023-01-03T15:31:50","slug":"microeconomics-in-context","status":"publish","type":"page","link":"https:\/\/www.bu.edu\/eci\/education-materials\/textbooks\/microeconomics-in-context\/","title":{"rendered":"Microeconomics in Context"},"content":{"rendered":"<p align=\"center\"><span style=\"color: #003366; font-family: Trebuchet MS; font-size: x-large;\"><strong>Microeconomics in Context, Fifth Edition<\/strong><\/span><span style=\"color: #003366; font-family: Trebuchet MS; font-size: small;\"><strong><br \/>\nby Neva Goodwin, Jonathan Harris, Julie Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, &amp; Mariano Torras<br \/>\n<\/strong><\/span><\/p>\n<p>This text lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, <em><a href=\"\/eci\/education-materials\/textbooks\/macroeconomics-in-context\/\">Macroeconomics in Context<\/a>,<\/em> the book is uniquely attuned to economic, social, and environmental realities. The \u201cin Context\u201d books offer affordability, accessible presentation, and engaging coverage of current policy issues from economic inequality and global climate change to taxes and globalization. <span style=\"font-weight: 400;\">The <span>Fifth Edition of\u00a0<\/span><em>Microeconomics in Context<\/em>\u00a0provides updated material on behavioral economics, labor markets, inequality, and climate change.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.routledge.com\/Microeconomics-in-Context\/Goodwin-Harris-Nelson-Rajkarnikar-Roach-Torras\/p\/book\/9781032171357\">Order the Fifth Edition via Routledge.<\/a><\/span><\/p>\n<p style=\"text-align: center;\">Paperback:\u00a0<span style=\"font-weight: 400;\">$59.96 \u00a0\u00a0<\/span>Hardback:<span style=\"font-weight: 400;\"> $168.00 \u00a0 <\/span>eBook:<span style=\"font-weight: 400;\"> $59.96<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" src=\"\/eci\/files\/2022\/12\/MIC-cover-489x636.jpg\" alt=\"\" width=\"245\" height=\"318\" class=\" wp-image-5465 alignright\" srcset=\"https:\/\/www.bu.edu\/eci\/files\/2022\/12\/MIC-cover-489x636.jpg 489w, https:\/\/www.bu.edu\/eci\/files\/2022\/12\/MIC-cover-787x1024.jpg 787w, https:\/\/www.bu.edu\/eci\/files\/2022\/12\/MIC-cover-768x999.jpg 768w, https:\/\/www.bu.edu\/eci\/files\/2022\/12\/MIC-cover-1180x1536.jpg 1180w, https:\/\/www.bu.edu\/eci\/files\/2022\/12\/MIC-cover-1574x2048.jpg 1574w, https:\/\/www.bu.edu\/eci\/files\/2022\/12\/MIC-cover-scaled.jpg 1967w\" sizes=\"(max-width: 245px) 100vw, 245px\" \/><\/p>\n<p><strong><span style=\"color: #003366; font-family: Trebuchet MS; font-size: 20px;\">Instructors<\/span><\/strong><br \/>\n<strong>For a free exam copy, please<\/strong> <a href=\"https:\/\/www.routledge.com\/resources\/compcopy\/9780429456893\" target=\"_blank\" rel=\"noopener noreferrer\">contact Routledge<\/a>.<\/p>\n<p>To access instructor only <strong>teaching materials<\/strong>, including test banks, <a href=\"mailto:eci@bu.edu\">contact us<\/a>. Please indicate what course you teach and provide proof of your instructor status (e.g. a link to your bio).<\/p>\n<p>You may also utilize <a href=\"https:\/\/canvas.instructure.com\/register_from_website\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Canvas<\/strong><\/a>, a learning management system, for automatic grading online; for more information about Canvas, <a href=\"\/eci\/files\/2023\/01\/Guide-to-Canvas-Demonstration-Sites_2023.pdf\">read our user&#8217;s guide<\/a> and contact us to request access to our demonstration sites. Please specify if you are teaching the Fourth or Fifth Edition, and indicate where and what course you teach.<\/p>\n<p><span style=\"color: #003366; font-family: Trebuchet MS; font-size: 20px;\"><strong>Student Supplements<\/strong><\/span><br \/>\n<span style=\"line-height: 120%;\">Access student study guide and PowerPoint Slides for the <a href=\"https:\/\/www.bu.edu\/eci\/student-supplements-fifth-edition\/\">Fifth Edition<\/a> and <a href=\"https:\/\/www.bu.edu\/eci\/education-materials\/textbooks\/microeconomics-in-context\/student-supplements-4th\/\">Fourth Edition<\/a><\/span><\/p>\n<p><span id=\"FifthEdition\"><span style=\"font-weight: 400;\"><span style=\"color: #003366; font-family: Trebuchet MS;\"><span style=\"font-size: 20px;\"><b>Preview the Fifth <span style=\"color: #003366; font-family: Trebuchet MS; font-size: 20px;\"><strong>Edition\u00a0<\/strong><\/span><\/b><\/span><\/span><br \/>\n<\/span><\/span><span style=\"font-weight: 400;\">In the new edition, all chapters have been revised and updated with new data tables and figures, and hundreds of new references to reflect current research and policy debates. Key changes include more international data and increased focus on issues of inequality and environmental sustainability, as well as new material on behavioral economics, labor markets, inequality, climate and environment, trade, and the impacts of the pandemic.\u00a0<\/span>The latest addition to the \u201cin Context\u201d series combines real-world relevance with a thorough grounding in multiple economic paradigms. <span style=\"font-weight: 400;\">A <a href=\"\/eci\/files\/2022\/12\/Key-changes-MIC.pdf\">brief summary<\/a>\u00a0explains key features of the Fifth Edition.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Preview the <a href=\"\/eci\/files\/2022\/04\/MIC-5e-TOC.pdf\">Table of Contents<\/a> and sample chapters:<\/span><\/p>\n<p><span id=\"SampleChapters\"><br \/>\n<a href=\"\/eci\/files\/2022\/04\/Chapter-2.pdf\"><span style=\"font-weight: 400;\">Chapter 2: Markets and Society<\/span><\/a><\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Updated data on paid and unpaid work by gender<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Updated data on the relative size of the different spheres of the economy, including the informal sphere in lower-income countries<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">More streamlined discussion of the different types of markets<\/span><\/li>\n<\/ul>\n<p><a href=\"\/eci\/files\/2022\/04\/Chapter-7.pdf\"><span style=\"font-weight: 400;\">Chapter 7: Economic Behavior and Rationality<\/span><\/a><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Discussion of the most-recent research on behavioral economics, including neuroeconomics, the ultimatum game, and social trust<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New box on the use of social comparisons to motivate energy conservation<\/span><\/li>\n<\/ul>\n<p><a href=\"\/eci\/files\/2022\/04\/Chapter-9.pdf\"><span style=\"font-weight: 400;\">Chapter 9: Markets for Labor<\/span><\/a><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New material about the impact of the COVID-19 pandemic on labor markets<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Discussion of new research on labor market discrimination by race and gender<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Expanded discussion of gig workers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New box on the Great Resignation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New material on the relationship between work-life balance and well-being<\/span><\/li>\n<\/ul>\n<p><a href=\"\/eci\/files\/2022\/04\/Chapter-10.pdf\"><span style=\"font-weight: 400;\">Chapter 10: Economic and Social Inequality<\/span><\/a><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Extensively updated data on national and international inequality\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New material on the relationship between economic inequality and well-being<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Discussion of the impact of the COVID-19 pandemic on economic inequality<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Expanded discussion of inequality in lower-income countries<\/span><\/li>\n<\/ul>\n<p><a href=\"\/eci\/files\/2022\/04\/Chapter-13.pdf\"><span style=\"font-weight: 400;\">Chapter 13: Common Property Resources and Public Goods<\/span><\/a><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Extensively revised section on global climate change<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Discussion of the 2021 Glasgow Climate Pact<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Updated analysis of the dramatic decline of renewable energy costs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New box on the consistent inaccuracy of past renewable energy forecasts<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<div align=\"center\">\n<table width=\"90%\" bgcolor=\"#ffd773\" border=\"2\" bordercolor=\"#000000\">\n<tbody>\n<tr>\n<td width=\"94%\" style=\"padding: 40px 20px;\">\n<p align=\"center\"><strong><span style=\"color: #003366; font-family: Trebuchet MS; font-size: 20px;\">Praise for <em>Microeconomics in Context<\/em><\/span><\/strong><\/p>\n<p style=\"padding: 0px 40px;\">\u201cIn my endorsement of the previous edition of Microeconomics in Context, I called it \u2019hands down<br \/>\nthe best&#8217;. This new edition is even better. Not only is it still very accessible to students, but it is even<br \/>\nmore highly relevant. The authors present the economy as fully embedded in its wider context \u2013 social,<br \/>\npolitical, historical, and environmental \u2013 and then bring in a rich understanding of economic theory<br \/>\nto help us not only to understand the world, but also to change it.\u201d<br \/>\n<span style=\"padding-left: 30px;\">&#8211;\u00a0Professor Judith Robinson, Castleton State College<\/span><\/p>\n<p>\u201cThis textbook shifts our thinking and teaching about microeconomics! The integration of cutting-edge economic insights and applications to underexplored issues of unpaid labor, inequality, climate change, and globalization makes the book relevant and engaging. With this contextual approach and the tools offered, we are better equipped to promote improvements in societal well-being.\u201d<br \/>\n<span style=\"padding-left: 30px;\">&#8211; Professor Fiona MacPhail, University of Northern British Columbia<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #003366; font-family: Trebuchet MS; font-size: x-large;\"><strong>Microeconomics in Context, Fourth Edition <\/strong><\/span><span style=\"color: #003366; font-family: Trebuchet MS; font-size: small;\"><strong><br \/>\nby Neva Goodwin, Jonathan Harris, Julie Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, &amp; Mariano Torras<\/strong><\/span><\/p>\n<p><span style=\"color: #003366; font-family: Trebuchet MS; font-size: 20px;\"><strong>Fourth Edition Materials<img loading=\"lazy\" src=\"\/eci\/files\/2022\/12\/MIC4E_sm.jpg\" alt=\"\" width=\"205\" height=\"267\" class=\" wp-image-5520 alignright\" \/><\/strong><\/span><br \/>\nPreview the <a href=\"\/eci\/files\/2019\/05\/MIC_4e_TOC.pdf\">Table of Contents<\/a> and sample chapters:<\/p>\n<ul style=\"margin-top: 0px; margin-bottom: 0px;\">\n<li>Chapter 2: <a href=\"\/eci\/files\/2019\/05\/MIC_4e_Ch2.pdf\">Markets and Society<\/a><\/li>\n<li>Chapter 7: <a href=\"\/eci\/files\/2019\/05\/MIC_4e_Ch7.pdf\">Economic Behavior and Rationality<\/a><\/li>\n<li>Chapter 10: <a href=\"\/eci\/files\/2019\/05\/MIC_4e_Ch10.pdf\">Economic and Social Inequality<\/a><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.bu.edu\/eci\/education-materials\/textbooks\/microeconomics-in-context\/student-supplements-4th\/\">Student Supplements<\/a><\/p>\n<p><b><span style=\"color: #003366; font-family: Trebuchet MS; font-size: 20px;\"><strong>Changes in the Fourth Edition<\/strong><\/span><\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The Fourth Edition includes new material on economic inequality, environmental policies, behavioral economics, taxes, and labor issues. A <a href=\"\/eci\/files\/2022\/04\/4th-Edition-Summary-of-Changes-1.pdf\">brief summary<\/a> explains key features of the Fourth Edition.<\/span><\/p>\n<blockquote>\n<p align=\"center\"><span style=\"color: #003366; font-family: Trebuchet MS; font-size: x-large;\"><strong>Microeconomics in Context, Third Edition <\/strong><\/span><span style=\"color: #003366; font-family: Trebuchet MS; font-size: small;\"><strong><br \/>\nby Neva Goodwin, Jonathan Harris, Julie Nelson, Brian Roach, &amp; Mariano Torras<br \/>\n<\/strong><\/span><\/p>\n<div>\n<p><span style=\"font-family: times new roman; font-size: medium;\"><strong><img loading=\"lazy\" src=\"\/eci\/files\/2019\/05\/Micro3E_lg.jpg\" alt=\"Cover for Microeconomics in Context, Third Edition\" width=\"220\" height=\"271\" style=\"padding-left: 10px;\" border=\"0\" align=\"right\" \/><\/strong><\/span><span style=\"color: #003366; font-family: Trebuchet MS; font-size: 20px;\"><strong>Third Edition Materials<\/strong><\/span><\/p>\n<p><span style=\"font-family: times new roman; font-size: medium;\"><strong>See <a href=\"\/eci\/files\/2019\/05\/MIC_3e_TOC.pdf\">Table of Contents<\/a> <\/strong><\/span><\/p>\n<p><span style=\"font-family: times new roman; font-size: medium;\"><strong>Preview <a href=\"https:\/\/wdn.ipublishcentral.com\/sharpe642\/viewinsidehtml\/57457174589321\">the first 24 pages<\/a> <\/strong><\/span><\/p>\n<p><strong><span style=\"font-family: times new roman; font-size: medium;\">S<\/span><\/strong><span style=\"font-family: times new roman; font-size: medium;\"><strong>ample chapters from the Third Edition:<\/strong> <\/span><\/p>\n<ul style=\"margin-top: 0px; margin-bottom: 0px; list-style: none;\">\n<li><a href=\"\/eci\/files\/2019\/05\/MIC_3e_Ch7.pdf\">Chapter 7:<\/a> Economic Behavior and Rationality<\/li>\n<li><a href=\"\/eci\/files\/2019\/05\/MIC_3e_Ch9.pdf\">Chapter 9:<\/a> Markets for Labor<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.bu.edu\/eci\/education-materials\/textbooks\/microeconomics-in-context\/student-supplements-3rd\/\">Student Supplements<\/a><\/p>\n<p><span style=\"font-family: times new roman; font-size: medium;\"><\/span><strong>Changes to the Third Edition<\/strong><br \/>\nThe <em>Third Edition<\/em> is is thoroughly updated and corrected, printed in black-and-white in order to make it economically-priced. A one-page <a href=\"\/eci\/files\/2019\/05\/MIC_3e_SummaryChanges.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">summary of changes<\/a> that describes the nature of the most substantive updates and corrections is available.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<p><center><a href=\"#top\" class=\"button\">Top of Page<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><\/center><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Microeconomics in Context, Fifth Edition by Neva Goodwin, Jonathan Harris, Julie Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, &amp; Mariano Torras This text lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Macroeconomics in Context, the book is uniquely attuned to economic, social, [&hellip;]<\/p>\n","protected":false},"author":16351,"featured_media":0,"parent":126,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/eci\/wp-json\/wp\/v2\/pages\/238"}],"collection":[{"href":"https:\/\/www.bu.edu\/eci\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bu.edu\/eci\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/eci\/wp-json\/wp\/v2\/users\/16351"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/eci\/wp-json\/wp\/v2\/comments?post=238"}],"version-history":[{"count":42,"href":"https:\/\/www.bu.edu\/eci\/wp-json\/wp\/v2\/pages\/238\/revisions"}],"predecessor-version":[{"id":5584,"href":"https:\/\/www.bu.edu\/eci\/wp-json\/wp\/v2\/pages\/238\/revisions\/5584"}],"up":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/eci\/wp-json\/wp\/v2\/pages\/126"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/eci\/wp-json\/wp\/v2\/media?parent=238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}