A comprehensive analysis of the theoretical tools and real world applications of microeconomics.
This book covers all the significant topics in modern microeconomics: demand and the theory of the consumer, including applications and extensions; theory of the firm; production, cost and supply; partial equilibrium theory of markets; general equilibrium and welfare economics; uncertainty and information; and market imperfections, including monopoly, oligopoly, externalities and public goods.
• Accessible and reader-friendly approach;
• Coverage of basic and modern aspects of each topic;
• Graphical and algebraic expositions throughout;
• Special emphasis on policy applications;
• Full treatment of corner solutions;
• Use of calculus throughout;
• Rich pedagogical elements, including examples and end-of-chapter exercises.
Introduction to Microeconomic Theory
Theory of Consumer Behavior
Applications of Consumer Theory
Extensions of Consumer Theory
Production, Cost, and Supply
Markets in Partial Equilibrium
General Equilibrium and Welfare Economics
Uncertainty and Information
Monopoly and Market Power
The Theory of Games
Market Structures between Competition and Monopoly
Externalities and Public Goods
Answers to Chapter-end Exercises
Pankaj Tandon - Boston University, U.S.