Intermediate Microeconomic Theory: Tools and Step-by-Step Examples

by Ana Espinola-Arredondo, Felix Munoz-Garcia

Overview

A short, rigorous introduction to intermediate microeconomic theory that offers worked-out examples, tools for solving exercises, and algebra support.

This book takes a concise, example-filled approach to intermediate microeconomic theory. It avoids lengthy conceptual description and focuses on worked-out examples and step-by-step solutions. Each chapter presents the basic theoretical elements, reducing them to their main ingredients, and offering several worked-out examples and applications as well as the intuition behind each mathematical assumption and result. The book provides step-by-step tools for solving standard exercises, offering students a common approach for solving similar problems. The book walks readers through each algebra step and calculation, so only a basic background in algebra and calculus is assumed. The book includes 140 self-assessment exercises, giving students an opportunity to apply concepts from previous worked-out examples.

Topics covered include consumer theory; substitution and income effect; welfare gain or loss from a price change; and choice under uncertainty. Shifting to a firm theory, the book discusses production functions, cost minimization, perfectly competitive markets, and monopolies. Two chapters on game theory provide building blocks for subsequent chapters that treat imperfect markets; games of incomplete information and auctions; contract theory; and externalities, public goods, and common pool resources. The book is suitable for use in undergraduate intermediate microeconomics courses, rigorous introduction to microeconomics courses, and managerial economics at the masters level.

Product Details

ISBN-13:	9780262044233
Publisher:	MIT Press
Publication date:	10/27/2020
Pages:	504
Product dimensions:	8.25(w) x 9.31(h) x 0.92(d)

About the Author

Ana Espinola-Arredondo is Associate Director and Associate Professor in the School of Economic Sciences at Washington State University.

Felix Muñoz-Garcia is Associate Professor in the School of Economic Sciences at Washington State University.

Table of Contents

Chapter Examples
Preface
Chapter 1 - Introduction
Chapter 2 - Consumer Preferences and Utility
Chapter 3 - Consumer Choice
Chapter 4 - Substitution and Income Effects
Chapter 5 - Measuring Welfare Changes
Chapter 6 - Choice under Uncertainty
Chapter 7 - Production Functions
Chapter 8 - Cost Minimization
Chapter 9 - Partial and General Equilibrium
Chapter 10 - Monopoly
Chapter 11 - Price Discrimination and Bundling
Chapter 12 - Simultaneous-Move Games
Chapter 13 - Sequential and Repeated Games
Chapter 14 - Imperfect Competition
Chapter 15 - Games of Incomplete Information and Auctions
Chapter 16 - Contract Theory
Chapter 17 - Externalities and Public Goods
References 
Index