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This book teaches microeconomics as a way of looking at the world, using plenty of new applications and examples to demonstrate the theory. Because it uses calculus (only in footnotes), this book is considered to be in the upper mid-range in its mathematical rigor. An optimal balance of theory and applications is maintained by working from the specific to the general--with many lively and interesting examples used as a means of developing economic theory in a careful and rigorous way. A seven-part organization covers numerous topics under the headings of: an introduction to microeconomics, individual choice, production and cost, markets for goods, resource markets and general equilibrium, imperfect competition, and uncertainty and asymmetric information. For individuals trying to apply the theory of microeconomics to the economics of the real world.
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Product details

  • Hardback | 682 pages
  • 195.6 x 279.4 x 30mm | 1,338.11g
  • Prentice Hall
  • Upper Saddle River, United States
  • English
  • 5th edition
  • 0130330116
  • 9780130330116

Table of contents

Preface. I. AN INTRODUCTION TO MICROECONOMICS. 1. Microeconomics: A Working Methodology. Appendix A1: Model Building. II. INDIVIDUAL CHOICE. 2. A Theory of Preferences. 3. Demand Theory. Appendix 3A: Composite Commodities. 4. More Demand Theory. 5. Intertemporal Decision Making and Capital Values. III. PRODUCTION AND COST. 6. Production and Cost: One Variable Input. 7. Production and Cost: Many Variable Inputs. IV. MARKETS FOR GOODS. 8. The Theory of Perfect Competition. 9. Applications of the Competitive Model. 10. Monopoly. V. RESOURCE MARKETS AND GENERAL EQUILIBRIUM. 11. Input Markets and the Allocation of Resources. 12. The Distribution of Income. 13. Competitive General Equilibrium. Appendix 13A: Efficiency. VI. IMPERFECT COMPETITION. 14. Price Discrimination and Monopoly Practices. 15. Game Theory and Oligopoly. 16. Product Differentiation. VII. UNCERTAINTY AND ASYMMETRIC INFORMATION. 17. Choice Making Under Uncertainty. 18. Asymmetric Information, the Rules of the Game, and Externalities. 19. The Theory of the Firm. 20. Asymmetric Information and Market Behaviour. Answers to Problems. Glossary. Index.
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