Microeconomics: A Modern Approach / Edition 3

Microeconomics: A Modern Approach / Edition 3

by Andrew Schotter
     
 

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ISBN-10: 0321077474

ISBN-13: 9780321077479

Pub. Date: 08/02/2000

Publisher: Addison Wesley

Economics is a living science--and you can make a contribution. Dr. Schotter's new MICROECONOMICS: A MODERN APPROACH shows you how to go beyond studying theory and effectively apply what you learn to your future studies, career, and life. Professor Schotter believes the future of teaching microeconomics will be heavily connected with the use of experimental tools.

Overview

Economics is a living science--and you can make a contribution. Dr. Schotter's new MICROECONOMICS: A MODERN APPROACH shows you how to go beyond studying theory and effectively apply what you learn to your future studies, career, and life. Professor Schotter believes the future of teaching microeconomics will be heavily connected with the use of experimental tools. As a result, MICROECONOMICS is built on an experimental economics framework that emphasizes game theory, strategic analysis, and organization of the firm, without skimping on traditional topics like consumer choice, production and markets. Each chapter and section builds upon a unifying theme of how economic institutions develop to solve problems that arise in a society. Concepts are presented within the context of a society that starts out in a primitive state of nature and gradually develops the characteristics and institutions of a modern economy. Illustrating various points of view, the text also helps you sharpen your critical thinking skills as it presents theories as well as their deficiencies. Applying intermediate economics to everyday life, MICROECONOMICS: A MODERN APPROACH is a text that will further your core foundation for studying economics.

Product Details

ISBN-13:
9780321077479
Publisher:
Addison Wesley
Publication date:
08/02/2000
Series:
Addison-Wesley Series in Economics
Edition description:
3RD
Pages:
752
Product dimensions:
7.05(w) x 8.72(h) x 1.64(d)

Table of Contents

(All chapters, except Chapter 1, contain Exercises and Problems.)

1. Economics and Institutions: A Shift of Emphasis.

2. Consumers and Their Preferences.

3. Demand and Behavior in Markets.

Appendix A: The Demand Curve.

Appendix B: The Expenditure Function.

Appendix C: Price-Compensating Variations.



4. The Problem of Exchange.

Appendix A: The Shrinking of the Core.

Appendix B: Pareto Optima and the Contract Curve.

Appendix C: Competitive Equilibrium and Pareto Optimality.



5. The Discovery of Production and Its Technology.

Appendix A: The Production Function.



6. Cost and Choice.

Appendix A: The Cost Function.



7. Game Theory and the Tools of Strategic Business Analysis.

Appendix A: Games of Incomplete Information.

Appendix B: Repeated Games.



8. The Internal Organization of the Firm.

9. The Age of Entrepreneurship: Monopoly.

Appendix A: The Monopoly Problem.

Appendix B: Price Discrimination.



10. Natural Monopoly and the Economics of Regulation.

Appendix A: The Allocation of Common Costs: Cross-Subsidization.

Appendix B: Franchise Monopoly.



11. The World of Oligopoly: Preliminaries to Successful Entry.

Appendix A: Nash Equilibrium in Duopoly.

Appendix B: Implicit Collusion and Repeated Games.



12. Market Entry and the Emergence of Perfect Competition.

Appendix A: Incomplete Information and Entry Prevention.



13. Perfectly Competitive Markets.

Appendix A: Two Welfare Propositions.



14. Uncertainty and the Emergence of Insurance.

15. General Equilibrium and the Origins of the Free-Market and Interventionist Ideologies.

16. Moral Hazard and Adverse Selection: Informational Market Failures.

17. Externalities: The Free Market—Interventionalist Battle Continues.

Appendix A: Excess Production Under Externalities.



18. Public Goods, the Consequences of Strategic Voting Behavior, and the Role of Government.

19. Input Markets and the Origins of Class Conflict.

Answers to Selected Exercises and Problems.

Index.

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