Description
Book SynopsisThis thorough reconstruction of microeconomics 'post-2008' provides economic students with a new way of real-world understanding and strategic qualification that will be better appreciated by their future employers and any professional practice. It will prove essential for economic students and other social science programs at a graduate level.
This accessible and engaging textbook includes:
- A survey of the most famous core models of modern microeconomics including the neoclassical approach and its heterodox critiques - Sraffian, Institutionalist, Post-Keynesian and Mirowskian
- An introduction to complexity thinking in economics
- An introduction to game theory
- An introduction to the methods of complex computer simulation
- An introduction to strategic behavior
- An newly integrated approach to real-world and complexity economics, rather than focusing on neoclassical ('perfect') market equilibrium 'plus a thousand recent extra things on top'.
See the companion website - www (dot) microeconomics (dot) us - for teaching material, readings, exams and as a general guide to explore issues raised in the book.
Trade Review’This microeconomics textbook by Wolfram Elsner provides a timely alternative for understanding the micro roots of uncertainty, complexity and crisis. The evolutionary and institutional perspective sheds new light on contemporary issues such as clusters, networks, innovation and coordination. By reading this textbook, teachers, students and practitioners will open their minds to new economic thinking.’ -- Ping Chen, Peking University, Beijing, Fudan University, Shanghai, China and author of Economic Complexity and Equilibrium Illusion
’Here, at last, we have the ideal textbook for microeconomics from an evolutionary and institutional perspective. Wolfram Elsner does nothing less than reconstruct the principles of microeconomics for a world of interactive business networks, change and innovation, crisis and uncertainty, as well as coordination problems and cooperative joint ventures. The publication of this book is a landmark event in microeconomics.’ -- Phillip A. O'Hara, Curtin University of Technology, Perth, Australia and President-Elect of AFEE, 2012
Table of ContentsContents: Preface – Microeconomics in Times of Crisis: A ‘Post-2008’ Textbook, its Aims and Scope Didactics – How to Work with this Textbook 1. Introduction to the Microeconomics of Interactive Economies 2. Methods for Analyzing Interactive Economies: An Introduction to Game Theory 3. Problem Structures and Processes of Interactive Economies 4. Real-World Markets: Hierarchy, Size, Power, and Direct Interdependence 5. Ideal Neoclassical Market and General Equilibrium 6. Critique of the Neoclassical ‘Perfect Market’ Economy and Alternative Price Theories 7. Methods for Analyzing Complex Processes: An Introduction to Computer Simulation 8. Recent Core Models of Complexity Microeconomics 9. A Universe of Economies: Interdependence and Complexity, System Trajectories, Chaos, and Self-Organization References Index
