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.
