For Intermediate Microeconomics courses.
Microeconomics exposes students to topics that play a central role in microeconomics. From game theory and competitive strategy, to the roles of uncertainty and information, and the analysis of pricing by firms with market power, the text helps students understand what's going on in the world of business. It also shows students how microeconomics can be used as a practical tool for decision-making and for designing and understanding public policy. The 9th Edition further illustrates microeconomics' relevance and usefulness with new coverage and examples, and an improved exposition that is clear and accessible as well as lively and engaging. With Microeconomics, readers will be able to fully appreciate how a modern economy functions.
Part 1: INTRODUCTION: MARKETS AND PRICES
1. Preliminaries
2. The Basics of Supply and Demand
Part 2: PRODUCERS, CONSUMRS, AND COMPETITIVE MARKETS
3. Consumer Behavior
4. Individual and Market Demand
5. Uncertainty and Consumer Behavior
6. Production
7. The Cost of Production
8. Profit Maximization and Competitive Supply
9. The Analysis of Competitive Markets
Part 3: MARKET STRUCTURE AND COMPETITIVE STRATEGY
10. Market Power: Monopoly and Monopsony
11. Pricing with Market Power
12. Monopolistic Competition and Oligopoly
13. Game Theory and Competitive Strategy
14. Markets for Factor Inputs
15. Investment, Time, and Capital Markets
Part 4: INFORMATION, MARKET FAILURE, AND THE ROLE OF GOVERNMENT
16. General Equilibrium and Economic Efficiency
17. Markets with Asymmetric Information
18. Externalities and Public Goods
19. Behavioral Economics
Appendix: The Basics of Regression
Answers to Selected Exercises
