By the successful author of THE ARMCHAIR ECONOMIST (a popular trade book that explains basic economics to the general public), this book makes intermediate microeconomics fun and intellectually challenging. The writing style provides an exceptionally friendly and application-rich presentation, combined with a rigorous and careful development of microeconomics theory. All of the standard topics of intermediate price theory are included, as well as many innovative topics, such as alternative normative criteria, efficient asset markets, contestable markets, antitrust law, human capital, demand for public goods, and more. A unique unifying theme of social welfare is used throughout. The inclusion of higher-level mathematics is minimal.
New edition of a text that studies the ways in which individuals and firms make choices, and the ways in which these choices interact with each other. It deals primarily with positive questions as to what is or will be, as opposed to normative speculation about what ought to be. Nineteen chapters discuss the market for goods which are supplied by firms and purchased by individuals; the market for inputs to the production process (such as labor) that are supplied by individuals and purchased by firms; how individuals allocate goods across time; risk; and what economics in general, and price theory in particular, is all about. Annotation c. Book News, Inc., Portland, OR (booknew.com)
Steven E. Landsburg teaches economics at the University of Rochester. He is the author of six books, including The Armchair Economist (Free Press/Macmillan 1993). His articles have appeared in the Journal of Political Economy, the Journal of Economic Theory, and many other mathematics, economics and philosophy journals. He writes the monthly "Everyday Economics" column in Slate magazine, and has written for Forbes, the New York Times, the Wall Street Journal and the Washington Post. He appeared as a commentator on the PBS/Turner Broadcasting series "Damn Right," and has made over 200 radio and television appearances. He has served on the board of directors of Hutchinson Technology, the world's largest maker of suspension assemblies for hard disk drives. For more information about Professor Landsburg visit http://www.landsburg.com/about2.html.
1. Supply, Demand, and Equilibrium. 2. Prices, Costs, and the Gains from Trade. 3. The Behavior of Consumers. 4. Consumers in the Marketplace. 5. The Behavior of Firms. 6. Production and Costs. 7. Competition. 8. Welfare Economics and the Gains from Trade. 9. Knowledge and Information. 10. Monopoly. 11. Market Power, Collusion, and Oligopoly. 12. The Theory of Games. 13. External Costs and Benefits. 14. Common Property and Public Goods. 15. The Demand for Factors of Production. 16. The Market for Labor. 17. Allocating Goods Over Time. 18. Risk and Uncertainty. 19. What is Economics? Appendix A. Calculus Supplement. Appendix B. Answers to Exercises. Appendix C. Answers to Problem Sets.