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Price Theory and Applications

ISBN-10: 0324274483
ISBN-13: 9780324274486
Edition: 6th 2005
List price: $220.95
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Description: By the successful author of "The Armchair Economist" (a popular trade book that explains basic economics to the general public), this book makes intermediate microeconomics fun and intellectually challenging. The writing style provides an  More...

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Book details

List price: $220.95
Edition: 6th
Copyright year: 2005
Publisher: Cengage South-Western
Publication date: 7/14/2004
Binding: Hardcover
Pages: 750
Size: 8.00" wide x 9.75" long x 1.25" tall
Weight: 3.564
Language: English

By the successful author of "The Armchair Economist" (a popular trade book that explains basic economics to the general public), this book makes intermediate microeconomics fun and intellectually challenging. The writing style provides an exceptionally friendly and application-rich presentation, combined with a rigorous and careful development of microeconomics theory. All of the standard topics of intermediate price theory are included, as well as many innovative topics, such as alternative normative criteria, efficient asset markets, contestable markets, antitrust law, human capital, demand for public goods, and more. A unique unifying theme of social welfare is used throughout. The inclusion of higher-level mathematics is minimal.

Steven E. Landsburg is a Professor of Economics at the University of Rochester.nbsp; He is the author of The Armchair Economist, Fair Play, More Sex is Safer Sex, The Big Questions, two textbooks in economics, a forthcoming textbook on general relativity and cosmology, and over 30 journal articles in mathematics, economics and philosophy.nbsp;His current research is in the area of quantum game theory.nbsp;He blogs daily at www.TheBigQuestions.com . For over ten years, he wrote the monthly "Everyday Economics" column in Slate magazine, and has written regularly for Forbes and occasionally for the New York Times, the Wall Street Journal and the Washington Post. He appeared as a commentator on the PBS/Turner Broadcasting series "Damn Right", and has made over 200 appearances on radio and television broadcasts over the past few years.nbsp;

Preface
Supply, Demand, and Equilibrium
Demand
Supply
Equilibrium
Summary
Author Commentary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
Prices, Costs, and the Gains from Trade
Prices
Costs, Efficiency, and the Gains from Trade
Summary
Author Commentary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
The Behavior of Consumers
Tastes
The Budget Line and the Consumer's Choice
Applications of Indifference Curves
Summary
Author Commentary
Review Questions
Numerical Exercise
Problem Set
Internet Exercise
Cardinal Utility
Consumers in the Marketplace
Changes in Income
Changes in Price
Income and Substitution Effects
Elasticities
Summary
Author Commentary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
The Behavior of Firms
Weighing Costs and Benefits
Firms in the Marketplace
Summary
Author Commentary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
Production and Costs
Production and Costs in the Short Run
Production and Costs in the Long Run
Relations Between the Short Run and the Long Run
Summary
Author Commentary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
Competition
The Competitive Firm in the Short Run
The Competitive Industry in the Short Run
The Competitive Firm in the Long Run
An Introduction to the Competitive Industry in the Long Run
Constant-Cost Industries
Increasing- and Decreasing-Cost Industries
Applications
Using the Competitive Model
Summary
Author Commentary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
Welfare Economics and the Gains from Trade
Measuring the Gains from Trade
The Efficiency Criterion
Examples and Applications
General Equilibrium and the Invisible Hand
Summary
Author Commentary
Review Questions
Problem Set
Normative Criteria
Internet Exercise
Knowledge and Information
The Informational Content of Prices
Financial Markets
Topics in the Economics of Information
Summary
Author Commentary
Review Questions
Problem Set
Internet Exercise
Monopoly
Price and Output under Monopoly
Sources of Monopoly Power
Price Discrimination
Summary
Author Commentary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
Market Power, Collusion, and Oligopoly
Acquiring Market Power
Collusion and the Prisoner's Dilemma: An Introduction to Game Theory
Regulation
Oligopoly
Monopolistic Competition and Product Differentiation
Summary
Author Commentary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
The Theory of Games
Game Matrices
Sequential Games
Summary
Author Commentary
Problem Set
Internet Exercise
External Costs and Benefits
Costs Imposed on Others
The Coase Theorem
Transactions Costs
The Law and Economics
Summary
Author Commentary
Review Questions
Problem Set
Internet Exercise
Common Property and Public Goods
The Tragedy of the Commons
Public Goods
Summary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
The Demand for Factors of Production
The Firm's Demand for Factors in the Short Run
The Firm's Demand for Factors in the Long Run
The Industry's Demand Curve for Factors of Production
The Distribution of Income
Summary
Review Questions
Numerical Exercises
Problem Set
Internet Exercise
The Market for Labor
Individual Labor Supply
Labor Market Equilibrium
Differences in Wages
Discrimination
Summary
Review Questions
Problem Set
Internet Exercise
Allocating Goods Over Time
Bonds and Interest Rates
Applications
The Market for Current Consumption
Production and Investment
Summary
Author Commentary
Review Questions
Problem Set
Internet Exercise
Risk and Uncertainty
Attitudes Toward Risk
The Market for Insurance
Futures Markets
Markets for Risky Assets
Rational Expectations
Summary
Author Commentary
Review Questions
Problem Set
Internet Exercise
What is Economics?
The Nature of Economic Analysis
The Rationality Assumption
What is an Economic Explanation?
The Scope of Economic Analysis
Author Commentary
Problem Set
Internet Exercise
Calculus Supplement
Answers to Exercises
Answers to Problem Sets
Glossary
Index

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