Students work directly with theoretical tools, real-world applications, and cutting edge developments in the study of microeconomics. It provides clear and accurate coverage of advanced microeconomic concepts and illustrates how the theory applies to practical situations.
In addition, the text’s aggressive effort helps build student intuition by including a new two-tier end-of-chapter problem that begins with simple numerical/mathematical exercises followed by more analytical, theoretical, and complex problems.
1. Economic Models.
2. Mathematics for Microeconomics.
Part II: CHOICE AND DEMAND.
3. Preferences and Utility.
4. Utility Maximization and Choice.
5. Income and Substitution Effects.
6. Demand Relationships among Goods.
Part III: UNCERTAINTY AND STRATEGY.
8. Game Theory.
Part IV: PRODUCTION AND SUPPLY.
9. Production Functions.
10. Cost Functions.
11. Profit Maximization.
Part V: COMPETITIVE MARKETS.
12. The Partial Equilibrium Competitive Model.
13. General Equilibrium and Welfare.
Part VI: MARKET POWER.
15. Imperfect Competition.
Part VII: PRICING IN INPUT MARKETS.
16. Labor Markets.
17. Capital and Time.
Part VIII: MARKET FAILURE.
18. Asymmetric Information.
19. Externalities and Public Goods.
1111525536 | 9781111525538