This innovative intermediate microeconomics textbook covers both standard theory and exciting topics and developments, such as behavioural economics and advanced game theory. The book's unique problem-solving approach encourages active learning, introducing the mathematical tools that underpin economic theory in an accessible, student-friendly way.
Robert I. Mochrie is a Senior Lecturer in Accountancy, Economics and Finance at the School of Management and Languages, Heriot-Watt University, UK.
PART 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
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- ID: 9781137008442
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