The issues of microeconomics - including individuals' financial choices and firms' decisions about hiring and firing - have a large impact on the economic world, arguably as much, if not more than, macroeconomics. In this Very Short Introduction Avinash Dixit clearly explains what microeconomics is by using examples from around the world.
Release on 2010-10-25 | by David Besanko,Ronald Braeutigam
Author: David Besanko,Ronald Braeutigam
Pubpsher: John Wiley & Sons
Category: Business & Economics
Business professionals that struggle to understand key concepts in economics and how they are applied in the field rely on Microeconomics. The fourth edition makes the material accessible while helping them build their problem-solving skills. It includes numerous new practice problems and exercises that arm them with a deeper understanding. Learning by Doing exercises explore the theories while boosting overall math skills. Graphs are included throughout the mathematical discussions to reinforce the material. In addition, the balanced approach of rigorous economics gives business professionals a more practical resource.
Pubpsher: Macmillan International Higher Education
Category: Business & Economics
Microeconomics: Equilibrium and Efficiency is an innovative textbook that introduces microeconomic theory in an applied way, making use of real-world empirical examples. Key benefits: · Concise and intuitive: students will not only become familiar with the building blocks of the subject, but also gain a broad understanding of microeconomic theory and models. · Empirical, real-world examples: all economic concepts are developed in a measurable way. Performance measures are derived and applied to firms, industries, and national economies. · Systemic approach: the economy is considered as a system, looking at how its different parts interact, how prices are formed and how markets are interconnected. · Unique innovations: for example, general equilibrium theory is introduced making use of Negishi's method – that is, equilibrium analysis follows the techniques used in empirical models. · Coverage of modern topics such as environmental economics, information and optimal search, and the theory of inequality measurement. · End-of-chapter summaries and exercises, with answers in the appendix. Thijs ten Raa's unique approach bridges the gap between microeconomic theory and applied economics, helping students understand applied models that are used widely in industry, economic planning, trade, and environmental studies. Written in a lucid, clear and direct style, it is an ideal textbook for advanced undergraduate and graduate students.
This book is intended to be a comprehensive and standard textbook for undergraduate students of Microeconomics. Apart from providing students with sufficient study material for examination purpose, it aims at making them understand economics. An effort has been made to explain abstract and complex microeconomic theories in a simple and lucid language without sacrificing analytical sophistication. The subject matter has been structured in a systematic manner without leaving gaps for the readers to fill in. Though the approach is non-mathematical, simple algebra has been used to give a concrete view of economic concepts and theories and to show the applicability of economic theories in decision making.
Microeconomics: A Modern Treatment focuses on modern approaches to microeconomics. Alternative systems are discussed including input-output analysis as against neoclassical production theory. The theory of choice and the preference and utility approaches to consumer theory are also considered, along with linear and nonlinear theories of production, the theory of market demand and supply, and welfare economics. Comprised of 11 chapters, this book begins with an introduction to economic science and its propositions, as well as the importance of establishing a clearly defined set of postulates on which the whole edifice of economic knowledge rests. The discussion then turns to the theory of choice and the preference and utility approaches to consumer theory; neoclassical as opposed to modern consumer choice; production theory and the production set of the economy; and the theory of market demand and supply. Subsequent chapters deal with the theory of exchange and general equilibrium; welfare economics; and stability and introductory dynamics. This monograph will be of value to economists and those interested in microeconomics.
Release on 2009-11-24 | by Robert E. Hall,Marc Lieberman
Author: Robert E. Hall,Marc Lieberman
Pubpsher: Cengage Learning
Category: Business & Economics
Acclaimed economists Hall and Lieberman have made the latest edition of MICROECONOMICS: PRINCIPLES AND APPLICATIONS as current as the headlines. Since real-world policy issues, decisions, and applications impact all of us on an everyday basis, Hall and Lieberman use these true, cutting-edge examples to illustrate core economic theory and application. Straightforward and easy-to-understand, this comprehensive text equips readers with a solid foundation in economics that they can build upon wherever their career paths may lead. Hall and Lieberman’s careful focus on important economic theories and applications, and how they relate to practical questions, effectively conveys the message that economics is an integrated, powerful body of knowledge that can address complex domestic and global issues. A wealth of interactive online exercises, graphing applications, and research resources give students hands-on experience in understanding current economic issues. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
In this novel introduction to modern microeconomic theory, Samuel Bowles returns to the classical economists' interest in the wealth and poverty of nations and people, the workings of the institutions of capitalist economies, and the coevolution of individual preferences and the structures of markets, firms, and other institutions. Using recent advances in evolutionary game theory, contract theory, behavioral experiments, and the modeling of dynamic processes, he develops a theory of how economic institutions shape individual behavior, and how institutions evolve due to individual actions, technological change, and chance events. Topics addressed include institutional innovation, social preferences, nonmarket social interactions, social capital, equilibrium unemployment, credit constraints, economic power, generalized increasing returns, disequilibrium outcomes, and path dependency. Each chapter is introduced by empirical puzzles or historical episodes illuminated by the modeling that follows, and the book closes with sets of problems to be solved by readers seeking to improve their mathematical modeling skills. Complementing standard mathematical analysis are agent-based computer simulations of complex evolving systems that are available online so that readers can experiment with the models. Bowles concludes with the time-honored challenge of "getting the rules right," providing an evaluation of markets, states, and communities as contrasting and yet sometimes synergistic structures of governance. Must reading for students and scholars not only in economics but across the behavioral sciences, this engagingly written and compelling exposition of the new microeconomics moves the field beyond the conventional models of prices and markets toward a more accurate and policy-relevant portrayal of human social behavior.
Professor Schotter believes the future of teaching microeconomics will be heavily connected with the use of experimental tools. And with the exciting new MICROECONOMICS: A MODERN APPROACH, your students will be well prepared. Applying intermediate economics to everyday life, this innovative first edition is built on an experimental economics framework that emphasizes game theory, strategic analysis, and organization of the firm without skimping on traditional topics like consumer choice, production and markets. Each chapter and section builds upon a unifying theme of how economic institutions develop to solve problems that arise in a society. Concepts are presented within the context of a society that starts out in a primitive state of nature and gradually develops the characteristics and institutions of a modern economy. The text also nurtures critical thinking skills by presenting theories, as well as their deficiencies. Illustrating various points of view, MICROECONOMICS: A MODERN APPROACH encourages students to not just study theory, but apply their knowledge learned to real-world issues. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
Release on 2014-09-01 | by R. Glenn Hubbard,Anne M. Garnett,Philip Lewis,Anthony Patrick O'Brien
Author: R. Glenn Hubbard,Anne M. Garnett,Philip Lewis,Anthony Patrick O'Brien
Pubpsher: Pearson Australia
Category: Business & Economics
Microeconomics is the most engaging introductory economics resource available to students today. Using real businesses examples to show how managers use economics to make real decisions every day, the subject is made relevant and meaningful. Each chapter of the text opens with a case study featuring a real business or real business situation, refers to the study throughout the chapter, and concludes with An Inside Look—a news article format which illustrates how a key principle covered in the chapter relates to real business situations or was used by a real company to make a real business decision. Solved problems in every chapter motivate learners to confidently connect with the theory to solve economic problems and analyse current economic events.