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This new edition builds a comprehensive picture of the microeconomic tools required to solve a wide range of problems by using an innovative combination of written, illustrative and mathematical analysis. It helps the reader to think like an economist - in particular demonstrating how individuals, firms and policy-makers decide their best course of action.
Chapter I Introduction
Part 1THE THEORY OF CONSUMER BEHAVIOUR
Chapter 2 The basic theory of consumer choice
Chapter3 Money income and real income
Chapter 4 Utility
Part II Consumer Theory: Further Topics
Chapter 5 Intertemporal choice
Chapter 6 Choice in the face of risk
Chapter 7 Decision Making: further analysis
Part III Production and Costs
Chapter 8 Production
Chapter 9 Costs
Chapter 10 Production functions, cost functions, and the demand for factors of production
Part IV Basic Theory of the Firm
Chapter 11 Perfect competition
Chapter 12 Monopoly
Chapter 13 Product differentiation and monopolistic competition
Part V Oligopoly and Strategic Interaction
Chapter 14 Imperfect Competition an introduction
Chapter 15 Oligopoly and strategic interaction
Chapter 16 Game theory
Chapter 17 Game Theory II
Part VI Factor Markets
Chapter 18 Factor demand
Chapter 19 Factor supply
Chapter 20 Labour markets trade unions and bargaining
Part VII General Equilibrium and Welfare
Chapter 21 The exchange economy
Chapter 22 General equilibrium with production
Chapter 23 Welfare economics
Part VIII Missing Markets
Chapter 24 Externalities, public goods and Taxes
Chapter 25 Economics of information
Chapter 26 Public choice
Your complete guide to Microeconomic principles, theory and application
Think like an economist... the new sixth edition equips you with the microeconomic tools to help you understand how individuals, firms and policy-makers decide their best course of action. This comprehensive text has been fully updated in light of recent developments in microeconomics, providing a balance of theory and examples to demonstrate the relevance of applying microeconomic principles to effectively analyse and solve a wide range of economic problems.
New for this edition
· New chapters on decision theory and game theory
· Fully updated throughout, including new boxed worked examples
· Detailed new coverage on the tragedy of the commons, auctions and corporate governance
· Diagrammatic and mathematical analysis.
Microeconomics caters for all students who already possess knowledge of the basic principles, challenging the most able reader whilst leaving no student behind.
Saul Estrin is a Professor of Management and Head of the Department of Management at The London School of Economics and Political Science.
David Laidler is Professor Emeritus of Economics at the University of Western Ontario and Fellow in Residence at the C. D. Howe Institute in Toronto.
Michael Dietrich is a Senior Lecturer in Economics at Sheffield University