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This book is well known for its coverage of modern topics (Game theory, Economics of Information, and Behavioral Economics), clarity of its writing style and graphs, and integrated use of real world examples. The emphasis on relevance and application to both managerial and public-policy decision-making are focused goals of the book. This emphasis is accomplished by including MANY extended examples that cover such topics as the analysis of demand, cost, and market efficiency; the design of pricing strategies; investment and production decisions; and public policy analysis. Economists and strategists looking to stay current with economic information.

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Editorial Reviews

A textbook adaptable to several types of courses, including a one-quarter or one-semester course covering the core material, a longer course that includes such topics as uncertainty and market failure, or a course emphasizing specific topics such as modern pricing theory or business strategy. Assuming a potential readership from diverse backgrounds, uses no calculus and marks the more advanced sections with warning asterisks. Incorporates changes in the field over the past few years, including the new importance given to game theory and the strategic interaction of firms. First published in 1989 and most recently in 1995. Answers are provided for selected problems. Annotation c. by Book News, Inc., Portland, Or.
New edition of a text that stresses the relevance and application of microeconomic theory to both managerial and public-policy decision making. Incorporating the dramatic changes that have occurred in the field in recent years, Pindyck (Massachusetts Institute of Technology) and Rubinfeld (U. of California) present 18 chapters that discuss markets and prices; producers, consumers, and competitive markets; market structure and competitive strategy; and information, market failure, and the role of government. Contains 107 extended examples that cover topics such as the analysis of demand, cost, and market efficiency; the design of pricing, strategies; investment and production decisions; and public policy analysis. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9780139872235
  • Publisher: Pearson College Div
  • Publication date: 6/1/1999
  • Edition description: 4TH PACKAG

Table of Contents

Pt. I Introduction: Markets and Prices 1
1 Preliminaries 3
2 The Basics of Supply and Demand 19
Pt. II Producers, Consumers, and Competitive Markets 59
3 Consumer Behavior 61
4 Individual and Market Demand 101
5 Choice Under Uncertainty 147
6 Production 175
7 The Cost of Production 205
8 Profit Maximization and Competitive Supply 251
9 The Analysis of Competitive Markets 289
Pt. III Market Structure and Competitive Strategy 331
10 Market Power: Monopoly and Monopsony 333
11 Pricing with Market Power 375
12 Monopolistic Competition and Oligopoly 433
13 Game Theory and Competitive Strategy 475
14 Markets for Factor Inputs 513
15 Investment, Time, and Capital Markets 545
Pt. IV Information, Market Failure, and the Role of Government 577
16 General Equilibrium and Economic Efficiency 579
17 Markets with Asymmetric Information 617
18 Externalities and Public Goods 647
App The Basics of Regression 683
Glossary 693
Answers to Selected Exercises 703
Index 717
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