Principles of Microeconomics


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Principles of Microeconomics, Is a  textbook written by Doug Curtis

About the Book

Principles of Microeconomics is an adaptation of the textbook, Microeconomics: Markets, Methods, and Models by D. Curtis and I. Irvine, which provides concise yet complete coverage of introductory microeconomic theory, application and policy in a Canadian and global environment.

This adaptation employs methods that use equations sparingly and do not utilize calculus. The key issues in most chapters are analyzed by introducing a numerical example or case study at the outset. Students are introduced immediately to the practice of taking a data set, examining it numerically, plotting it, and again analyzing the material in that form.

The end-of-chapter problems involve numerical and graphical analysis, and a small number of problems in each chapter involve solving simple linear equations (intersecting straight lines). However, a sufficient number of questions is provided for the student to test understanding of the material without working through that subset of questions.

This textbook is intended for a one-semester course, and can be used in a two-semester sequence with the companion textbook, Principles of Macroeconomics. The three introductory chapters are common to both textbooks.

About the Contributors


Doug Curtis is a specialist in macroeconomics. He is the author of numerous research papers on fiscal policy, monetary policy, and economic growth and structural change. He has also prepared research reports for Canadian industry and government agencies and authored numerous working papers. He completed his PhD at McGill University, and has held visiting appointments at the University of Cambridge and the University of York in the United Kingdom. His current research interests are monetary and fiscal policy rules, and the relationship between economic growth and structural change. He is Professor Emeritus of Economics at Trent University in Peterborough, Ontario, and also held an appointment as Sessional Adjunct Professor in the Department of Economics at Queen’s University in Kingston, Ontario from 2003 until 2013.

Ian Irvine is a specialist in microeconomics, public economics, economic inequality and health economics. He is the author of numerous research papers in these fields. He completed his PhD at the University of Western Ontario, has been a visitor at the London School of Economics, the University of Sydney, the University of Colorado, University College Dublin and the Economic and Social Research Institute. His current research interests are in tobacco use and taxation, and Canada’s Employment Insurance and Welfare systems. He has done numerous studies for the Government of Canada, and is currently a Professor of Economics at Concordia University in Montreal.

Table of Contents

Part One: The Building Blocks

  • 1 Introduction to key ideas
  • 2 Theories, data and beliefs
  • 3 The classical marketplace – demand and supply

Part Two: Responsiveness and the Value of Markets

  • 4 Measures of response: Elasticities
  • 5 Welfare economics and externalities

Part Three: Decision Making by Consumer and Producers

  • 6 Individual choice
  • 7 Firms, investors and capital markets
  • 8 Production and cost

Part Four: Market Structures

  • 9 Perfect competition
  • 10 Monopoly
  • 11 Imperfect competition

Part Five: The Factors of Production

  • 12 Labour and capital
  • 13 Human capital and the income distribution

Part Six: Government and Trade

  • 14 Government
  • 15 International trade

Additional information


Doug Curtis

Ian Irvine

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