Microeconomics: A Modern Approach (with InfoApps 2-Semester Printed Access Card) / Edition 1

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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.

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Product Details

  • ISBN-13: 9780324315844
  • Publisher: Cengage Learning
  • Publication date: 2/1/2008
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 768
  • Product dimensions: 8.26 (w) x 10.11 (h) x 1.33 (d)

Meet the Author

Andrew Schotter is Professor of Economics, Faculty of Arts and Sciences, at New York University and Director of the Center for Experimental Social Science. Professor Schotter received his BS degree from Cornell University and his MA and PhD degrees from New York University. His areas of special interest in teaching are microeconomic theory, game theory, and experimental economics. His areas of special interest in research are applications of game theory to economics, microeconomics, experimental economics, and theories of economic and social institutions. These interests are reflected in the many articles that Professor Schotter has contributed to economics journals and in the books he has written and edited. In addition to MICROECONOMICS: A MODERN APPROACH, he is the author of FREE MARKET ECONOMICS: A CRITICAL APPRAISAL and THE ECONOMIC THEORY OF SOCIAL INSTITUTIONS. Professor Schotter's wide-ranging professional activities also include serving as a member of the editorial board of the AMERICAN ECONOMIC REVIEW AND EXPERIMENTAL ECONOMICS and as an associate editor for GAMES AND ECONOMIC BEHAVIOR; doing consulting work for businesses and financial institutions; giving testimony before the Joint Economic Committee of the U.S. Congress on the cost of the tort system; and serving as a visiting scholar at the University of Paris, the University of Venice, the Institution for Advanced Studies in Vienna, and the Russell Sage Foundation and Tel Aviv University. In 1993 he received the Kenan Enterprise Award for his contributions to the economic theory of free markets. Professor Schotter is married to Anne Howland Schotter, a professor of English Literature at Wagner College in New York. They have two children, Geoffrey and Elizabeth, who have lent their names to the two archetypes of economic agents in the model society their father created to illustrate microeconomic theory in this book.

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Table of Contents

Section 1: INTRODUCTION. 1. Economics and Institutions: A Shift of Emphasis. Section 2: PREFERENCES, UTILITIES, DEMAND, AND UNCERTAINTY. 2. Consumers and Their Preferences. 3. Utilities—Indifference Curves. 4. Demand and Behavior in Markets. 5. Some Applications of Consumer, Demand, and Welfare Analysis. 6. Uncertainty and the Emergence of Insurance. 7. Uncertainty—Applications and Criticisms. Section 3: PRODUCTION AND COST. 8. The Discovery of Production and Its Technology. 9. Cost and Choice. 10. Cost Curves. Section 4: DECISIONS AND GAMES. 11. Game Theory and the Tools of Strategic Business Analysis. 12. Decision Making Over Time. 13. The Internal Organization of the Firm. Section 5: MARKETS. 14. Perfectly Competitive Markets: Short Run Analysis. 15. Competitive Markets in the Long Run. 16. Market Institutions and Auctions. 17. The Age of Entrepreneurship: Monopoly. 18. Natural Monopoly and the Economics of Regulation. 19. The World of Oligopoly: Preliminaries to Successful Entry. 20. Market Entry and the Emergency of Perfect Competition. Section 6: EXCHANGE AND GENERAL EQUILIBRIUM. 21. The Problem of Exchange. 22. General Equilibrium and the Origins of the Free-Market and Interventionist Ideologies. Section 7: BREAKDOWNS AND MARKET FAILURE. 23. Moral Hazard and Adverse Selection: Informational Market Failures. 24. Externalities: The Free Market—Interventionist Battle Continues. Section 8: INPUT MARKETS AND THE ORIGINS OF CLASS STRUGGLE. 25. Public Goods, the Consequences of Strategic Voting Behavior, and the Role of Government. 26. Input Markets and the Origins of Class Conflict.

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