Fully revised and expanded in this fourth edition, Microeconomics: Theory and Applications presents all the standard topics of traditional microeconomic theory while offering a modern approach that reflects the many recent developments in the field. With its student-friendly writing style and clear presentation of graphs, this is an ideal text for undergraduate courses in intermediate microeconomics and business programs.Unique Features* Offers a balance of traditional microeconomic topics while addressing contemporary issues and concerns *Introduces an important international dimension to microeconomics, reflecting the strong trend toward globalization in tastes, production, and distribution in today's world *Presents an "At the Frontier" section in each chapter that highlights the most exciting recent examples of advanced theoretical developments in microeconomicsNew and Expanded Treatment in the Fourth Edition* Includes a new chapter, "Choice Under Uncertainty," which examines consumer choices, risk, and uncertainty *Provides more than 130 new and updated real-world examples of how microeconomic theory can be used to analyze and possibly resolve important present-day economic problems *Offers expanded treatment of important topics such as game theory, financial microeconomics, the new international economies of scale, economics of information, and market structure, efficiency, and regulation *Features Internet site addresses for the most important topics in each chapterWeb SiteA companion web site is now available at www.oup.com/us/salvatore. New to this fourth edition, this practical learning tool offers updated material, additional examples, and PowerPoint lecture slides for each textbook chapter.