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Microeconomics (Course Guide)

Principles of Microeconomics Course Materials

Textbook Readings

eTextbook Readings | Principles of Economics | OpenStax

NOTE: Be sure to review key terms, concepts, questions, and problems at the end of each chapter!

The Role of Government in Economic Markets

What Roles Do Governments Play in a Market Economy?

Assess Your Knowledge

Do you understand how to...?

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  • evaluate governments' role in a market economy
  • distinguish between a planned economy and a market economy
  • identify types of market failures (monopolies, externalities, imperfect information, need for public goods)
  • explore tax structures and their consequences
  • explore the impacts of government subsidies
  • explore the impacts of price ceilings and price floors
  • review models that measure income distribution
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