The market leader in Intermediate Microeconomics, the book is well known for its coverage of modern topics (Game theory, Economics of Information), clarity of its writing style and graphs, and integrated use of real world examples. The book is used in both economics departments and business schools and is well received for its applied nature. The emphasis on relevance and application to both managerial and public-policy decision making are focused goals of the book. It succeeds in showing how microeconomics can be used as a tool for decision making.
Table of Contents
I: INTRODUCTION: MARKETS AND PRICES.
2. The Basics of Supply and Demand.
II: PRODUCERS, CONSUMERS, AND COMPETITIVE MARKETS.
3. Consumer Behavior.
4. Individual and Market Demand.
5. Choice under Uncertainty.
7. The Cost of Production.
8. Profit Maximization and Competitive Supply.
9. The Analysis of Competitive Markets.
III: MARKET STRUCTURE AND COMPETITIVE STRATEGY.
10. Market Power: Monopoly and Monopsony.
11. Pricing with Market Power.
12. Monopolistic Competition and Oligopoly.
13. Game Theory and Competitive Strategy.
14. Markets for Factor Inputs.
15. Investment, Time, Capital Markets.
IV: INFORMATION, MARKET FAILURE, AND THE ROLE OF GOVERNMENT.
16. General Equilibrium and Economic Efficiency.
17. Markets with Asymmetric Information.
18. Externalities and Public Goods.