A Primer on Microeconomics, Second Edition, Volume II: Competition and Constraints

This two-volume text represents a common sense approach to basic microeconomics.

Economics, far from being the dismal science, offers us valuable lessons that can be applied to our everyday experiences. At its heart, economics is the scientific study of choice and a study of economic principles allows us to achieve a more informed understanding of how we make our choices; whether these choices occur in our everyday life or in our work environment.

Volume Two, Competition and Constraints, focuses on understanding how markets may operate; profit maximization; how real-world concerns may reduce efficiency; what corrective actions may be taken to prevent market failure and the implications of those actions. The goal is to provide a concise readable primer that extends the fundamentals of microeconomic theory to consider practical economic issues.

About the Author
Thomas M. Beveridge has been teaching students the principles of macroeconomics for over 30 years. Currently, he is an instructor of economics at Durham Technical Community College in North Carolina. He received an award for Teaching Excellence while at North Carolina State University, and holds dual master's degrees in economics and in education from the University of Dundee in the United Kingdom; in addition, he has undertaken PhD studies at the University of North Carolina at Chapel Hill. He has had published student learning and teaching materials, has acted as a reviewer for several major principles of economics textbooks, and has authored an innovative audio presentation of principles of economics for VangoNotes.