An introduction to advanced topics in microeconomics that emphasizes
the intuition behind assumptions and results, providing examples that
show how to apply theory to practice.
This textbook offers an introduction to advanced microeconomic theory
that emphasizes the intuition behind mathematical assumptions, providing
step-by-step examples that show how to apply theoretical models. It
covers standard topics such as preference relations, demand theory and
applications, producer theory, choice under uncertainty, partial and
general equilibrium, monopoly, game theory and imperfect competition,
externalities and public goods, and contract theory; but its intuitive
and application-oriented approach provides students with a bridge to
more technical topics. The book can be used by advanced undergraduates
as well as Masters students in economics, finance, and public policy,
and by PhD students in programs with an applied focus.
The text connects each topic with recent findings in behavioral and
experimental economics, and discusses these results in context, within
the appropriate chapter. Step-by-step examples appear immediately after
the main theoretical findings, and end-of chapter exercises help
students understand how to approach similar exercises on their own. An
appendix reviews basic mathematical concepts. A separate workbook,
Practice Exercises for Advanced Microeconomic Theory, offers solutions
to selected problems with detailed explanations. The textbook and
workbook together help students improve both their theoretical and
practical preparation in advanced microeconomics.
