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Principles of Microeconomics by Libby Rittenberg and Timothy Tregarthen
- Description
- Table of Contents
- About the Authors
- Supplements
Interested in an online assessment tool for Principles of Economics? We have that...and it is called FLYX! Watch this demonstration here for more information on FLYX Online Learning and Assessment.
Listen to a podcast here of Libby discussing her textbook to gain perspective on her and Tim's text.
Flat World Knowledge is honored to publish a new, first edition re-launch of Tim Tregarthen’s wonderful principles of microeconomics book, and proud to bring Tim's incredible talents as a teacher back to life so future generations of students can continue to learn from him.
In 1996, he published the first edition of his principles of microeconomics textbook to great acclaim, and it became widely used in colleges around the country. That same year, MS made him wheelchair-bound. The disease forced his retirement from teaching at the University of Colorado at Colorado Springs in 1998. He lost the use of his arms in 2001 and has been quadriplegic ever since.
Tim never let his disease get him down. In fact, he turned back to his love of writing and teaching for inspiration. He obtained a voice-activated computer, recruited a co-author, Libby Rittenberg of Colorado College, and turned his attention to revising his principles of economics book.
Today we are excited to introduce Libby Rittenberg and Timothy Tregarthen’s Principles of Microeconomics. The authors teach economics as the study of “choice “ by providing students with an accessible, straightforward overview of economics. This text combines the clarity and writing of Tregarthen's seminal periodical "The Margin" with great teaching insights.
Rittenberg and Tregarthen help students to understand how real individuals actually work with economics. In this new book, the authors illustrate the practicality and relevance of economics with a variety of new illustrations and insights.
The authors take a three-pronged approach to every concept: (1) the concept is covered with a “Heads Up” to ward off confusion, (2) a “You Try It” section makes sure students are staying on top of the concept and (3) a “Case and Point” section that uses a real-world application to harness the concept in reality. For one example of how this plays out in the text see "Chapter 3, Section 2 on Supply." here
This book is intended for a one-semester course in Microeconomics taught out the social sciences or business school.
- Book Options and Supplements
- About the Authors
- Acknowledgments
- Preface
- Chapter 1: Economics: The Study of ChoicePrint Chapter|
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- Section 1: Defining Economics
- Section 2: The Field of Economics
- Section 3: The Economists’ Tool Kit
- Section 4: Review and Practice
- Chapter 2: Confronting Scarcity: Choices in ProductionPrint Chapter|
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- Section 1: Factors of Production
- Section 2: The Production Possibilities Curve
- Section 3: Applications of the Production Possibilities Model
- Section 4: Review and Practice
- Chapter 3: Demand and SupplyPrint Chapter|
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- Section 1: Demand
- Section 2: Supply
- Section 3: Demand, Supply, and Equilibrium
- Section 4: Review and Practice
- Chapter 4: Applications of Demand and SupplyPrint Chapter|
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- Section 1: Putting Demand and Supply to Work
- Section 2: Government Intervention in Market Prices: Price Floors and Price Ceilings
- Section 3: The Market for Health-Care Services
- Section 4: Review and Practice
- Chapter 5: Elasticity: A Measure of ResponsePrint Chapter|
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- Section 1: The Price Elasticity of Demand
- Section 2: Responsiveness of Demand to Other Factors
- Section 3: Price Elasticity of Supply
- Section 4: Review and Practice
- Chapter 6: Markets, Maximizers, and EfficiencyPrint Chapter|
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- Section 1: The Logic of Maximizing Behavior
- Section 2: Maximizing in the Marketplace
- Section 3: Market Failure
- Section 4: Review And Practice
- Chapter 7: The Analysis of Consumer ChoicePrint Chapter|
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- Section 1: The Concept of Utility
- Section 2: Utility Maximization and Demand
- Section 3: Indifference Curve Analysis: An Alternative Approach to Understanding Consumer Choice
- Section 4: Review and Practice
- Chapter 8: Production and CostPrint Chapter|
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- Section 1: Production Choices and Costs: The Short Run
- Section 2: Production Choices and Costs: The Long Run
- Section 3: Review and Practice
- Chapter 9: Competitive Markets for Goods and ServicesPrint Chapter|
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- Section 1: Perfect Competition: A Model
- Section 2: Output Determination in the Short Run
- Section 3: Perfect Competition in the Long Run
- Section 4: Review and Practice
- Chapter 10: MonopolyPrint Chapter|
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- Section 1: The Nature of Monopoly
- Section 2: The Monopoly Model
- Section 3: Assessing Monopoly
- Section 4: Review and Practice
- Chapter 11: The World of Imperfect CompetitionPrint Chapter|
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- Section 1: Monopolistic Competition: Competition Among Many
- Section 2: Oligopoly: Competition Among the Few
- Section 3: Extensions of Imperfect Competition: Advertising and Price Discrimination
- Section 4: Review and Practice
- Chapter 12: Wages and Employment in Perfect CompetitionPrint Chapter|
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- Section 1: The Demand for Labor
- Section 2: The Supply of Labor
- Section 3: Labor Markets at Work
- Section 4: Review and Practice
- Chapter 13: Interest Rates and the Markets for Capital and Natural ResourcesPrint Chapter|
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- Section 1: Time and Interest Rates
- Section 2: Interest Rates and Capital
- Section 3: Natural Resources and Conservation
- Section 4: Review and Practice
- Chapter 14: Imperfectly Competitive Markets for Factors of ProductionPrint Chapter|
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- Section 1: Price-Setting Buyers: The Case of Monopsony
- Section 2: Monopsony and the Minimum Wage
- Section 3: Price Setters on the Supply Side
- Section 4: Review and Practice
- Chapter 15: Public Finance and Public ChoicePrint Chapter|
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- Section 1: The Role of Government in a Market Economy
- Section 2: Financing Government
- Section 3: Choices in the Public Sector
- Section 4: Review and Practice
- Chapter 16: Antitrust Policy and Business RegulationPrint Chapter|
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- Section 1: Antitrust Laws and Their Interpretation
- Section 2: Antitrust and Competitiveness in a Global Economy
- Section 3: Regulation: Protecting People from the Market
- Section 4: Review and Practice
- Chapter 17: International TradePrint Chapter|
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- Section 1: The Gains from Trade
- Section 2: Two-Way Trade
- Section 3: Restrictions on International Trade
- Section 4: Review and Practice
- Chapter 18: The Economics of the EnvironmentPrint Chapter|
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- Section 1: Maximizing the Net Benefits of Pollution
- Section 2: Alternatives in Pollution Control
- Section 3: Review and Practice
- Chapter 19: Inequality, Poverty, and DiscriminationPrint Chapter|
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- Section 1: Income Inequality
- Section 2: The Economics of Poverty
- Section 3: The Economics of Discrimination
- Section 4: Review and Practice
- Chapter 20: Socialist Economies in TransitionPrint Chapter|
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- Section 1: The Theory and Practice of Socialism
- Section 2: Socialist Systems in Action
- Section 3: Economies in Transition: China and Russia
- Section 4: Review and Practice
- Chapter 21: Appendix A: Graphs in EconomicsPrint Chapter|
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- Section 1: How to Construct and Interpret Graphs
- Section 2: Nonlinear Relationships and Graphs without Numbers
- Section 3: Using Graphs and Charts to Show Values of Variables
Libby Rittenberg

Dr. Libby Rittenberg is Professor of Economics at Colorado College since 1989. She has been the Dean of the Summer Session since 2003. She frequently teaches the Principles of Economics, Intermediate Macroeconomic Theory, Comparative Economic Systems, and a senior seminar on the International Political Economy. She received her Bachelor’s Degree from Simmons College and her Ph. D. in Economics from Rutgers University in 1980. She was a Fulbright Lecturer from 1982-1984.
Timothy Tregarthen

There is one word that captures the essence of Dr. Timothy Tregarthen - inspiring. Tim was first diagnosed with MS in 1975. Yet, he continued a remarkable academic career of teaching and research. In 1996, he published the first edition of his principles of economics textbook to great acclaim, and it became widely used in colleges around the country. That same year, MS made him wheelchair-bound. The disease forced his retirement from teaching at the University of Colorado at Colorado Springs in 1998. He lost the use of his arms in 2001 and has been quadriplegic ever since. In 2002, Tim’s doctor expected him to die.
He was placed in the Pikes Peak Hospice program, and was twice given his last rites by his priest. UCCS Chancellor Shockley-Zalabak says that “I really thought that Tim would die in Hospice. That’s what the doctors told me, and I really believed that. I remember one day they called me and told me to try to come see him. They didn't expect him to live through the night.”
Not only did he live through the night, but eventually recovered to the point that he moved from hospice to a long term care facility. There, he never let his disease get him down. In fact, he turned back to his love of writing and teaching for inspiration. He obtained a voice-activated computer, recruited a co-author, Libby Rittenberg of Colorado College, and turned his attention to revising his principles of economics book. Flat World Knowledge is honored to publish a new, first edition relaunch of this wonderful book, and proud to bring Tim's incredible talents as a teacher back to life for future generations of students to learn from.
In addition to completing the re-write of his textbook, Tim recently completed an autobiography about the 32 years he has had multiple sclerosis, titled Suffering, Faith, and Wildflowers. He is nearing completion of a novel, Cool Luck, based on the life of a friend. It is the story of a young couple facing the husband's diagnosis of ALS — Lou Gehrig's disease. Remarkably, in 2007, he was able to return to the classroom at UCCS, where he taught economics for 27 years.
Perhaps Tim’s approach to life is best summed up by an observation by UCCS English professor Thomas Naperierkowski: “One of the remarkable things is, heck, I can wake up with a headache and be a pretty grouchy character, but given his physical trials, which he faces every minute of his life these days, I've never seen him grouchy, I’ve never seen him cranky.”
Carry on, Tim.
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Instructor Manual
The Instructor Manual will help guide you through the main concepts of each chapter such as learning objectives, key terms and takeaways. Many also include explanations and answers to chapter exercises.
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Solutions Manual
For exercises that need a little more explanation, our Solutions Manual will take you step by step through solving the problem and offer explanations on the answer.
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PowerPoint Lecture Notes
A PowerPoint presentation highlighting key learning objectives and the main concepts for each chapter are available for you to use in your classroom. You can either cut and paste sections or use the presentation as a whole.
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Test Item File
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Schools Using Principles of Microeconomics by Libby Rittenberg and Timothy Tregarthen :
- Bates Technical College
- Bellevue University
- Bielefeld University of Applied Sciences
- Bridgewater State College
- Bucks County Community College
- California State University East Bay
- California State University Northridge
- Central Connecticut State University
- Cerritos College
- Chapman University
- Chinese University of Hong Kong
- Coastal University
- Community College of Philadelphia
- Dean College
- Eastfield College
- Heritage College
- Houston Baptist University
- Houston Community College Northeast
- Ivy Tech Community College
- Jacksonville University
- Lassen Community College
- LCC International University
- Lewis University
- Lipscomb University
- Lower Columbia College
- Luther College
- Marshall University
- Marshall University -- Lewis College of Business
- Napa Valley College
- Niagara University
- Ohio University
- Penn State Abington
- Penn State University
- Point Loma Nazarene University
- Providence College
- Purdue
- San Francisco State University
- Southern New Hampshire University
- St. Cloud State University
- Temple University
- Texas Tech University
- University of Mississippi
- University of Iowa
- University of Texas at San Antonio
- University of Nebraska at Kearney
- University of Nebraska at Omaha
- Western New England College
- York St John University
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