Description
Book SynopsisBased on a best-selling Japanese text that sold more than 65,000 copies, the book is written in a chatty, colloquial style without compromising the rigor of explaining microeconomic theories. Interspersed with illuminating real-life examples, the book encourages readers to think like an economist with insights on social justice and philosophy.
Trade Review'Mighty Microeconomics combines precise arguments, compelling applications, and deep reflection on the problems of the modern age. It takes students on an unforgettable intellectual journey to make them better citizens who can understand and participate in the choices we must make to create a better world.' Paul Milgrom, Leonard and Shirley Ely Professor of Economics, Stanford University
'This is one of the best introductions to modern microeconomics. By going through page by page with pen and paper at hand, readers will begin to understand how the activities of selfish and near-sighted people will be spontaneously organized into the social division of labor - a wonder of the 'invisible hand.' Nobuhiro Kiyotaki, Harold H Helm '20 Professor of Economics and Banking, Princeton University
'This book provides a self-contained journey from the very basics of economic thinking to the standard graduate-course fare, remaining mathematically rigorous but readily accessible throughout. Those who have never studied economics, those whose life's work is economic research, and everyone in between will find this book valuable.' Larry Samuelson, A. Douglas Melamed Professor of Economics, Yale University
'This book gives a great overview of the core ideas in microeconomics. It is ideal as supplementary reading for an undergraduate class, or for self-study by anyone who is interested in seeing what formal microeconomics theory is about.' Drew Fudenberg, Paul A Samuelson Professor of Economics, Massachusetts Institute of Technology
'Written in a lucid style, Mighty Microeconomics guides complete beginners to an advanced level, advanced enough to be a prudent and well-reserved theorist, through clear, precise, and thoughtful yet plain expositions.' Takashi Hayashi, Professor of Economics, University of Glasgow
Table of ContentsPart I. Price Theory: Merits and Limitations of the Market Mechanism: 1. Theory of Consumer Behavior; 2. The Theory of Firm Behavior; 3. Market Equilibrium; 4. Market Failures; 5. Monopolies; Part II. Game Theory and Economics of Information: 6. Simultaneous-Move Games and Nash Equilibrium; 7. Dynamic Games and Credible Strategies; 8. Insurance and Moral Hazard; 9. Adverse Selection and Signaling; 10. Last but not Least – Let's Talk about Social Justice and Philosophy; Appendix A. Essential Mathematical Concepts: All You Need to Know to Read this Book; Appendix B. Constrained Maximization Problems and the Method of Lagrange Multiplier; Appendix C. Compensating Variation and Equivalent Variation; Appendix D. A Step-by-Step Guide to Proving the Second Welfare Theorem.
