Microeconomics in Context lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Macroeconomics in Context, the book is uniquely attuned to economic, social, and environmental realities.The "In Context" books offer an engaging coverage of current research and policy issues from economic inequality and climate change, to taxes and globalization. Key features include:Up-to-date discussions of the impacts of the COVID-19 pandemic on inequality, labor markets, and beyondAnalysis of recent trade issues and the implications of Brexit Presentation of policy issues in historical, environmental, institutional, social, political, and ethical contexts—an approach that fosters critical evaluation of the standard microeconomic models Clear explanations of basic concepts and analytical tools, with advanced models presented in optional chapter appendices A powerful graphical presentation of various measures of well-being in