eBook - PDF

Intermediate Microeconomics

Name: Intermediate Microeconomics
Author: Samiran Banerjee

A Tool-Building Approach

Samiran Banerjee,

374 pages
English
PDF
Available on iOS & Android

eBook - PDF

Intermediate Microeconomics

A Tool-Building Approach

Samiran Banerjee,

About this book

Intermediate Microeconomics: A Tool-Building Approach is a clear and concise calculus-based exposition of current microeconomic theory that is essential for students pursuing degrees in economics or business. The second edition explicitly incorporates constrained optimization techniques. This beautifully presented and accessible text covers all the essential topics typically required at the intermediate level, from consumer and producer theory to the market structures of perfect competition, monopoly, duopoly, and oligopoly. Other topics include general equilibrium, risk, and game theory, as well as chapters on externalities, asymmetric information, and public goods.

Through numerical examples as well as exercises, the book aims to teach microeconomic theory via a process of learning-by-doing. When there is a skill to be acquired, a list of steps outlining the procedure is provided, followed by an example to illustrate how this procedure is carried out. Once learned, students will be able to solve similar problems and be well on their way to mastering the skills needed for future study.

Intermediate Microeconomics presents a large amount of material in a concise way, without sacrificing rigor or clarity of exposition. Through use of this text, students will acquire both the analytical toolkit and theoretical foundation necessary in order to take upper-level field courses in economics, such as industrial organization, international trade, and public finance.

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Information

Publisher

Year

Print ISBN

eBook ISBN

Topic

Subtopic

Comparative Economics

Index

Economics

Chapter

1

Markets

As

a

segue

into

the

material

of

intermediate-level

microeconomics,

we

begin

with

some

familiar

material

from

your

introductory

microeconomics

class:

market

demand,

supply,

and

equilibrium.

Then,

we

take

up

market

inter-

ventions

such

as

taxes

and

subsidies,

topics

which

should

also

be

somewhat

familiar

to

you.

We

cover

the

same

material

but

utilize

algebra

in

addition

to

graphs.

Finally,

we

revisit

various

elasticity

concepts

from

a

principles-level

class

using

calculus.

1.1

Market

Demand

and

Supply

Consider

a

single

product

(say,

the

market

for

steel)

over

a

speciﬁc

geograph-

ical

area

and

a

relatively

short

time

period,

such

as

a

few

months.

1.1.1

Plotting

a

market

demand

function

A

market

demand

function

shows

how

much

is

demanded

by

all

potential

buyers

at

different

prices

and

is

written

generically

as

Q

d

=

D

(

p

)

.

Here,

Q

d

is

the

total

quantity

demanded

and

is

the

dependent

variable,

while

the

per-unit

price,

p

,

is

the

independent

variable.

An

example

of

such

a

market

demand

function

is

given

by

the

equation

Q

d

=

120

−

2

p

,

(1.1)

where

Q

d

is

measured

in

thousands

of

tons

and

p

in

dollars

per

ton.

The

fact

that

the

derivative

dQ

d

/

dp

is

negative

means

that

this

market

demand

1

Cover
Half Title
Title Page
Copyright Page
Dedication Page
Contents
Preface
Acknowledgements
1 Markets
2 Budgets
3 Preferences
4 Individual Demands
5 Consumer Comparative Statics
6 Exchange Economies
7 Technology
8 Costs
9 Competitive Firms
10 Monopoly
11 Risk
12 Game Theory
13 Oligopoly
14 Externalities
15 Asymmetric Information
16 Public Goods
Mathematical Appendix
Selected Answers
Index

About this book

Frequently asked questions

Information

Table of contents