Description
Book SynopsisNicholas Marsh is Fellow of the English Association and the author of many titles in the 'Analysing Texts' series, of which he is also the General Editor.
Trade ReviewRobert Mochrie presents modern microeconomics in its full beauty: insightful, clear, rigorous, and broadened to include all of human behavior. Both students and scholars will gain from this intuitive and masterly development of economic theory, with its expression of ideas in mathematical form, and real world perspective introduced through illustrative examples. If you want to convince with economic arguments, you must master the foundations. This book, studied with care and time, will help you get there. Stephanie Rosenkranz, Utrecht University, the Netherlands Intermediate Microeconomics is a great book, set to become a staple for those of us teaching at this level. We finally have a text that combines both traditional theory with a substantive amount of Game Theory and also ventures into Behavioural Economics. It puts the development of the student's understanding and acquisition of analytical skills proactively at its core with an excellent fusion of technical rigor and clear, intuitive exposition. Anne Gasteen, Senior Lecturer in Economics, Glasgow Caledonian University This book introduces a wide variety of rich and complex theories of microeconomics, with many useful tools designed to assist student learning. These include help with mathematical notation, clearly articulated explanations of core concepts and numerous problem sets to help build on the material introduced in each section. I recommend this as a valuable resource for all students learning about microeconomics at an intermediate level. Joe Cox, Portsmouth University, UK Robert Mochrie has done a remarkable job at presenting the key theoretical principles in a very accessible and rigorous/accurate way. The book deals brilliantly with both the intuitive as well as the analytical side of microeconomics and aims at students that already have some intuitive understanding of microeconomics. The very elegant and simple presentation as well as the extensive coverage of resource allocation in an intermediate microeconomics textbook is rare and forms an excellent foundation for teaching on an intermediate level. Anna Goddeke, Reutlingen University, Germany The textbook is a very valuable addition to the existing ones. It combines basic concepts, lots of examples, and applications with mathematical rigor and exercises in a very effective way. Martin Kocher, University of Munich, Germany
Table of ContentsPART I: MARKETS IN CONTEXT 1. Key principles 2. Perfect markets PART II: RESOURCE ALLOCATION FOR PEOPLE 3. The budget set 4. Preferences 5. Utility functions 6. The most-preferred, affordable bundle 7. Demand functions 8. Price changes 9. The CES utility function PART III: RESOURCE ALLOCATION FOR FIRMS 10. Production 11. Cost functions 12. Costs and planning 13. Firm supply in perfect competition 14. Equilibrium in perfect competition PART IV: MARKET POWER 15. Monopoly 16. Price discrimination 17. Oligopoly 18. Game theory: concepts 19. Game theory: applications PART V: WELFARE 20. Exchange 21. Production and distribution 22. Externalities 23. Public goods PART VI: BEHAVIOUR 24. Personal choice 25. Inter-temporal choice 26. Choice and risk 27. Rationality and behaviour PART VII: APPLYING GAME THEORY 28. Games with imperfect information 29. Product differentiation 30. Auctions 31. Afterword.
