Summary: INTERMEDIATE MICROECONOMICS is a concise, well-written treatment of microeconomic theory and applications. It combines a thorough treatment of standard neoclassical material with extensive coverage of modern microeconomic theory, including game theory and the analysis of risk and uncertainty.
The text presents a thorough, but concise treatment of neoclassical economics, which is augmented with some "designer" topics such as subjective disc ...show moreounting; price uncertainty; durable good monopoly; and differences between property rules and liability rules.
The second section of the text concentrates on strategic behavior, including chapters on game theory, asymmetric information, and their applications. There is enough material to allow instructors to choose the applied topics they wish to cover.
Contains more coverage of risk, uncertainty, and game theory than any other undergraduate text. The intent of these chapters is to teach students to think strategically and to analyze strategic interactions.
Every analytical tool is used in multiple applications, and in different chapters where possible, emphasizing to students the topics' relevance, and that microeconomics operates through a unified treatment of economic problems.
Written for students in language that is concise, easy to read, and entertaining. Analytical material is algebra-based, and theoretical development is presented as most appropriate in each situation - verbally, graphically, or mathematically. While analytically more simple, this text challenges students conceptually.
Contains numerous real-world applications chosen for appeal to both economics and business majors.
Homework problems have students both repeat the steps they've learned in the chapter as well as think about the material and extend the analysis to new types of problems. ...show less
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