Microeconomics 1st Edition by Krister Ahlersten ISBN 9788776814106

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ISBN 13: 9788776814106
Author: Krister Ahlersten
 

This textbook teaches you about how to develop models that describe how an economy works. The book provides a comprehensive overview of all facets of Microeconomics. Starting with the market, consumers and producers followed by demand and production. You can also read about Monopoly, Price discrimination and Game theory.

Microeconomics 1st Edition Table of contents:

Chapter 1: Introduction to Microeconomics

• The Basics of Microeconomic Theory
• Scarcity and Choice
• Opportunity Cost
• Markets and Resource Allocation
• Economic Models and Simplifications
• The Role of Microeconomics in Society

Chapter 2: The Theory of Consumer Behavior

• Preferences and Utility
• Indifference Curves and Budget Constraints
• Maximizing Utility: The Consumer’s Choice
• The Law of Demand and the Substitution Effect
• Income and Substitution Effects in Consumer Choices
• Applications and Real-World Implications

Chapter 3: The Theory of the Firm

• The Role of Firms in the Economy
• Production Functions and the Law of Diminishing Returns
• Short-Run vs Long-Run Production
• Costs of Production
• Profit Maximization in Perfectly Competitive Markets
• The Relationship Between Costs and Output Decisions

Chapter 4: Market Structures: Perfect Competition

• Characteristics of Perfectly Competitive Markets
• Price and Output Determination in Perfect Competition
• Short-Run and Long-Run Equilibrium
• Efficiency in Perfect Competition
• Real-World Examples and Applications

Chapter 5: Monopoly and Imperfect Competition

• The Characteristics of a Monopoly
• Price Setting in Monopoly Markets
• Monopoly Profit Maximization and Output Decisions
• Barriers to Entry and Their Effects on Competition
• Price Discrimination and Its Economic Effects
• Applications of Monopoly Behavior in Real Life

Chapter 6: Oligopoly and Game Theory

• Characteristics of Oligopoly Markets
• Strategic Behavior and Interdependence of Firms
• Introduction to Game Theory in Oligopoly
• Nash Equilibrium and Its Applications in Oligopolistic Markets
• Collusion and Cartels
• Examples and Case Studies of Oligopolies

Chapter 7: Monopolistic Competition

• The Characteristics of Monopolistic Competition
• Product Differentiation and Market Power
• Short-Run and Long-Run Equilibrium
• Efficiency and Welfare in Monopolistic Competition
• Real-World Examples of Monopolistic Competition

Chapter 8: Factor Markets

• The Demand for Factors of Production
• Labor Markets and Wage Determination
• The Role of Capital and Land in the Economy
• The Theory of Rent and Interest
• Wage Discrimination and Income Inequality
• Applications of Factor Market Theory

Chapter 9: Market Failures and Government Intervention

• Types of Market Failures: Externalities, Public Goods, and Asymmetric Information
• The Role of Government in Addressing Market Failures
• Pigovian Taxes and Subsidies
• Government Regulation and Antitrust Laws
• The Debate Over Market Interventions

Chapter 10: Welfare Economics

• The Concept of Economic Welfare
• Efficiency vs Equity in Market Outcomes
• Consumer and Producer Surplus
• The Role of Government in Improving Welfare
• Evaluating Policy Interventions with Welfare Economics
• The Social Welfare Function

Chapter 11: International Trade and Microeconomics

• The Theory of Comparative Advantage
• Gains from Trade
• Trade Barriers: Tariffs and Quotas
• The Role of Globalization in Microeconomics
• The Impact of Trade Policies on Domestic Markets
• Case Studies in International Trade

Chapter 12: Public Economics and Taxation

• The Role of Taxes in Microeconomic Theory
• Tax Incidence and Efficiency
• Types of Taxes: Income, Consumption, and Corporate Taxes
• The Laffer Curve and Tax Policy
• Government Spending and Budget Deficits

Chapter 13: Behavioral Economics

• The Role of Psychology in Economic Decision-Making
• Behavioral Biases and Consumer Choices
• Bounded Rationality and Prospect Theory
• Behavioral Insights into Policy Design
• Applications of Behavioral Economics in Public Policy

Chapter 14: The Future of Microeconomics

• Emerging Trends and New Areas of Study in Microeconomics
• The Influence of Technology on Economic Behavior
• Global Economic Challenges and Microeconomic Responses
• The Integration of Environmental and Sustainability Concerns
• The Role of Microeconomics in Shaping Future Policy

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