Microeconomics / Edition 9

by Robert Pindyck, Daniel Rubinfeld

Overview

For Intermediate Microeconomics courses.

Microeconomics and its role in decision making and public policy

Microeconomics exposes students to topics that play a central role in microeconomics. From game theory and competitive strategy, to the roles of uncertainty and information, and the analysis of pricing by firms with market power, the text helps students understand what’s going on in the world of business. It also shows students how microeconomics can be used as a practical tool for decision-making and for designing and understanding public policy. The 9th Edition further illustrates microeconomics’ relevance and usefulness with new coverage and examples, and an improved exposition that is clear and accessible as well as lively and engaging. With Microeconomics, readers will be able to fully appreciate how a modern economy functions.

Also available with MyLab Economics

MyLab™ Economics is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

Students, if interested in purchasing this title with MyLab Economics, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.

Product Details

ISBN-13:	9780134184241
Publisher:	Pearson Education
Publication date:	02/17/2017
Edition description:	New Edition
Pages:	784
Product dimensions:	8.20(w) x 9.90(h) x 1.10(d)

About the Author

Robert S. Pindyck is the Bank of Tokyo-Mitsubishi Ltd. Professor of Economics and Finance in the Sloan School of Management at M.I.T. Daniel L. Rubinfeld is the Robert L. Bridges Professor of Law and Professor of Economics Emeritus at the University of California, Berkeley, and Professor of Law at NYU. Both received their PhDs from M.I.T., Pindyck in 1971 and Rubinfeld in 1972. Professor Pindyck’s research and writing have covered a variety of topics in microeconomics, including the effects of uncertainty on firm behavior and market structure; the behavior of natural resource, commodity, and financial markets; environmental economics; and criteria for investment decisions. Professor Rubinfeld, who served as chief economist at the Department of Justice in 1997 and 1998, is the author of a variety of articles relating to antitrust, competition policy, law and economics, law and statistics, and public economics.

Pindyck and Rubinfeld are also co-authors of Econometric Models and Economic Forecasts, another best-selling textbook that makes a perfect gift (birthdays, weddings, bar mitzvahs, you name it) for the man or woman who has everything. These two authors are always looking for ways to earn some extra spending money, so they enrolled as human subjects in a double-blind test of a new hair restoration medication. Rubinfeld strongly suspects that he is being given the placebo.

This is probably more than you want to know about these authors, but for further information, see their websites: http://web.mit.edu/rpindyck/www and http://www.law.berkeley.edu/faculty/rubinfeldd.

Table of Contents

Brief Table of Contents

Part 1: Introduction: Markets and Prices

1. Preliminaries
2. The Basics of Supply and Demand

Part 2: Producers, Consumers, and Competitive Markets

1. Consumer Behavior
2. Individual and Market Demand
3. Uncertainty and Consumer Behavior
4. Production
5. The Cost of Production
6. Profit Maximization and Competitive Supply
7. The Analysis of Competitive Markets

Part 3: Market Structure and Competitive Strategy

1. Market Power: Monopoly and Monopsony
2. Pricing with Market Power
3. Monopolistic Competition and Oligopoly
4. Game Theory and Competitive Strategy
5. Markets for Factor Inputs
6. Investment, Time, and Capital Markets

Part 4: Information, Market Failure, and the Role of Government

1. General Equilibrium and Economic Efficiency
2. Markets with Asymmetric Information
3. Externalities and Public Goods
4. Behavioral Economics

Appendix: The Basics of Regression

Answers to Selected Exercises