A significant new edition of a text that offers both tools and sample applications; extensive revisions and seven new chapters improve and expand upon the original treatment.
"To change the way students see the world: this is my goal in teaching economics and in writing this book. Three facts about students are my guiding principles. First, they want to learn, but they are over-whelmed by the volume of claims on their time and energy. So, they must see the relevance to their lives and future careers of what they are being asked to learn. Second, students want to get it, and get it quickly. So, they must be presented with clear and succinct explanations. And third, students want to make sense of today's world and be better prepared for life after school. So, they must be shown how to apply the timeless principles of economics and its models to illuminate and provide a guide to understanding today's events and issues, and the future challenges they are likely to encounter. The organization of this text arises directly from these guiding principles"--
Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.
This advanced economics text bridges the gap between familiarity with microeconomic theory and a solid grasp of the principles and methods of modern neoclassical microeconomic theory.
Microeconomics bridges the gap between today's theory and practice, with a strong empirical dimension that lets students tests theory and successfully apply it. With carefully crafted features and vivid examples, Goolsbee, Levitt, and Syverson's text helps answer two critical questions students ask, "Do people and firms really act as theory suggests?" and "How can someone use microeconomics in a practical way? LaunchPad is an interactive online resource that helps students achieve better results. LaunchPad combines an interactive e-book with high-quality multimedia content and ready-made assessment options, including LearningCurve, our adaptive quizzing resource, to engage your students and develop their understanding. Features included: • Pre-built Units for each chapter, curated by experienced educators, with media for that chapter organized and ready to assign or customize to suit your course. • All online resources for the text in one location, including an interactive e-book, LearningCurve adaptive quizzing (see below), interactive applets, Dynamic Figures with manipulable variables, CalcClips whiteboard videos, and more. • Powerful Online Homework Options, with algorithmically generated exercises including, precalculus quizzes, and more • Helpful analytics, with a Gradebook that lets you see how your class is doing individually and as a whole. • A streamlined and intuitive interface that lets you build an entire course in minutes. LearningCurve in Launchpad In a game-like format, LearningCurve adaptive and formative quizzing provides an effective way to get students involved in the coursework. It offers: • A unique learning path for each student, with quizzes shaped by each individual's correct and incorrect answers. • A Personalised Study Plan, to guide students' preparation for class and for exams. • Feedback for each question with live links to relevant e-book pages, guiding students to the reading they need to do to improve their areas of weakness. For more information on LaunchPad including how to request a demo, access our support centre, and watch our video tutorials, please visit here. Request a demo or instructor access.
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For all intermediate Microeconomics courses at the undergraduate or graduate level. This Global Edition has been edited to include enhancements making it more relevant to students outside the United States Understand the practical, problem-solving aspects of microeconomic theory. Microeconomics: Theory and Applications with Calculus uses calculus, algebra, and graphs to present microeconomic theory using actual examples, and then encourages students to apply the theory to analyze real-world problems. The Third Edition has been substantially revised, 80% of the Applications are new or updated, and there are 24 new Solved Problems. Every chapter (after Chapter 1) contains a new feature (the Challenge and the Challenge Solution) and has many new end-of-chapter exercises.
Intermediate Microeconomics: A Tool-Building Approach is a clear and concise, calculus-based exposition of current microeconomic theory essential for students pursuing degrees in Economics or Business. This beautifully-presented and accessible text covers all the essential topics that are typically required at the intermediate level, from consumer and producer theory to market structure (perfect competition, monopoly and oligopoly). Topics covered include risk, game theory, general equilibrium and externalities, asymmetric information, and public goods. Using numerical examples as well as sophisticated and carefully designed exercises, the book aims to teach microeconomic theory via a process of learning-by-doing. When there is a skill to be acquired, a list of steps outlining the procedure is provided, followed by an example to illustrate how this procedure is carried out. Once the procedure has been learned, students will be able to solve similar problems and be well on their way to mastering the skills needed for future study. Intermediate Microeconomics presents a tremendous amount of material in a concise way, without sacrificing rigor, clarity or exposition. Through use of this text, students will acquire both the analytical toolkit and theoretical foundations necessary in order to take upper-level courses in industrial organization, international trade, public finance and other field courses. Instructors that would like to consider Intermediate Microeconomics: A Tool-Building Approach for course adoption will have access to the book’s free companion website featuring: Detailed answers to end of chapter questions All figures used in the book as PDF files suitable for inclusion in PowerPoint slides Chapter-by-Chapter zipped files of worksheets/quizzes suitable for classroom use Problem sets are available on WebAssign for instructors who wish to use them. These are located at http://www.webassign.net/features/textbooks/banerjeeecon1/details.html?l=publisher. Please contact the author at [email protected] for details, or visit his website at http://banerjeemicro.com/
This book introduces the main concepts of microeconomics to students who have undergone at least one elementary calculus course. It fully integrates graphical and mathematical concepts and offers analytical examples demonstrating numerical solutions. The book has a strong theoretical basis but shows how microeconomics can be brought to bear on the real world. New Features for this edition include: An incorporation of the theory of stock externalities associated with greenhouse gases ; Development of the section on insurance with particular reference to the new US healthcare program ; greater integration of game theoretic concepts throughout the book. The book's style is accessible, but also rigorous. Mathematical examples are provided throughout the book, in particular for key concepts and the result is a balanced approach in terms of prose, graphics, and mathematics.
The objective of this book is to provide a comprehensive and authentic analysis of microeconomic theories and their applications to business decisions and to the determination of the general equilibrium of microeconomic variables. Some significant changes have been made in this edition of the book by taking in view the modern syllabi of microeconomics recommended by the UGC and the universities in India.