Aimed at readers who possess a basic understanding of microeconomics, Perloff introduces economic theory through a combination of calculus, algebra, and graphs. The text integrates estimated, real-world problems and applications, using a step-by-step approach to demonstrate how microeconomic theory can be applied to solve practical problems and policy issues. Compared to other similar texts, the author also places greater emphasis on using contemporary theories—such as game theory and contract theory—to analyze markets.

KEY TOPICS: Introduction; Supply and Demand; A Consumer’s Constrained Choice; Demand; Consumer Welfare and Policy Analysis; Firms and Production; Costs; Competitive Firms and Markets; Properties and Applications of the Competitive Model; General Equilibrium and Economic Welfare; Monopoly and Monopsony; Pricing and Advertising; Game Theory; Oligopoly and Monopolistic Competition; Factor Markets; Uncertainty; Property Rights, Externalities, Rivalry, and Exclusion; Asymmetric Information; Contracts and Moral Hazards

MARKET: For anyone interested in calculus-based intermediate microeconomics.