Microeconomics 6th Edition by David Besanko,Ronald Braeutigam – Ebook PDF Instant Download/Delivery:9781119554844,1119554845
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ISBN 10:1119554845
ISBN 13:9781119554844
Author:David Besanko,Ronald Braeutigam
Microeconomics is a classroom-tested resource for learning the key concepts, essential tools, and applications of microeconomics. This leading textbook enables students to recognize and analyze significant data, patterns, and trends in real markets through its integrated, student-friendly approach to the subject — providing practice problems, hands-on exercises, illustrative examples, and engaging applications that ground theory firmly in the real world. Each chapter, opening with a set of clearly defined learning goals based on the Bloom Taxonomy, features numerous Learning-by-Doing (LBD) problems, mathematical and graphical data, and varied problem sets focused on current events.
Now in its sixth edition, the text offers extensive new and revised content throughout. All applications reflect current data and important new developments in the field of economics, including behavioral economics, randomized controlled trials (RCTs) in policy evaluation and design, and computational-based microeconomics. Updated chapter openers, designed to increase student interest, cover topics including the economic impacts of climate change, U.S. household income and spending, surge pricing by Uber and Lyft, the effect of immigration on wages, and advances in robotics, automation, artificial intelligence, and more.
Microeconomics 6th Table of contents:
PART 1 INTRODUCTION TO MICROECONOMICS
1 ANALYZING ECONOMIC PROBLEMS
1.1 WHY STUDY MICRO-ECONOMICS?
1.2 THREE KEY ANALYTICAL TOOLS
1.3 POSITIVE AND NORMATIVE ANALYSIS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
2 DEMAND AND SUPPLY ANALYSIS
2.1 DEMAND, SUPPLY, AND MARKET EQUILIBRIUM
2.2 PRICE ELASTICITY OF DEMAND
2.3 OTHER ELASTICITIES
2.4 ELASTICITY IN THE LONG RUN VERSUS THE SHORT RUN
2.5 BACK-OF-THE-ENVELOPE CALCULATIONS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
APPENDIX: Price Elasticity of Demand along a Constant Elasticity Demand Curve
PART 2 CONSUMER THEORY
3 CONSUMER PREFERENCES AND THE CONCEPT OF UTILITY
3.1 REPRESENTATIONS OF PREFERENCES
3.2 UTILITY FUNCTIONS
3.3 SPECIAL PREFERENCES
3.4 BEHAVIORAL ASPECTS OF CHOICE16
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
4 CONSUMER CHOICE
4.1 THE BUDGET CONSTRAINT
4.2 OPTIMAL CHOICE
4.3 CONSUMER CHOICE WITH COMPOSITE GOODS
4.4 REVEALED PREFERENCE
4.5 MAXIMIZING UTILITY USING LAGRANGE MULTIPLIERS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
APPENDIX: The Time Value of Money
5 THE THEORY OF DEMAND
5.1 OPTIMAL CHOICE AND DEMAND
5.2 CHANGE IN THE PRICE OF A GOOD: SUBSTITUTION EFFECT AND INCOME EFFECT
5.3 CHANGE IN THE PRICE OF A GOOD: THE CONCEPT OF CONSUMER SURPLUS
5.4 MARKET DEMAND
5.5 THE CHOICE OF LABOR AND LEISURE
5.6 CONSUMER PRICE INDICES
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
PART 3 PRODUCTION AND COST THEORY
6 INPUTS AND PRODUCTION FUNCTIONS
6.1 INTRODUCTION TO INPUTS AND PRODUCTION FUNCTIONS
6.2 PRODUCTION FUNCTIONS WITH A SINGLE INPUT
6.3 PRODUCTION FUNCTIONS WITH MORE THAN ONE INPUT
6.4 SUBSTITUTABILITY AMONG INPUTS
6.5 RETURNS TO SCALE
6.6 TECHNOLOGICAL PROGRESS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
APPENDIX: The Elasticity of Substitution for a Cobb–Douglas Production Function
7 COSTS AND COST MINIMIZATION
7.1 COST CONCEPTS FOR DECISION MAKING
7.2 THE COST-MINIMIZATION PROBLEM
7.3 COMPARATIVE STATICS ANALYSIS OF THE COST-MINIMIZATION PROBLEM
7.4 SHORT-RUN COST MINIMIZATION
7.5 MINIMIZING LONG-RUN COSTS USING LAGRANGE MULTIPLIERS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
APPENDIX:
8 COST CURVES
8.1 LONG-RUN COST CURVES
8.2 SHORT-RUN COST CURVES
8.3 SPECIAL TOPICS IN COST
8.4 ESTIMATING COST FUNCTIONS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
APPENDIX: Shephard’s Lemma and Duality
PART 4 PERFECT COMPETITION
9 PERFECTLY COMPETITIVE MARKETS
9.1 WHAT IS PERFECT COMPETITION?
9.2 PROFIT MAXIMIZATION BY A PRICE-TAKING FIRM
9.3 HOW THE MARKET PRICE IS DETERMINED: SHORT-RUN EQUILIBRIUM
9.4 HOW THE MARKET PRICE IS DETERMINED: LONG-RUN EQUILIBRIUM
9.5 ECONOMIC RENT AND PRODUCER SURPLUS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
APPENDIX: Profit Maximization Implies Cost Minimization
10 COMPETITIVE MARKETS: APPLICATIONS
10.1 THE INVISIBLE HAND, EXCISE TAXES, AND SUBSIDIES
10.2 PRICE CEILINGS AND FLOORS
10.3 PRODUCTION QUOTAS
10.4 PRICE SUPPORTS IN THE AGRICULTURAL SECTOR
10.5 IMPORT QUOTAS AND TARIFFS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
PART 5 MARKET POWER
11 MONOPOLY AND MONOPSONY
11.1 PROFIT MAXIMIZATION BY A MONOPOLIST
11.2 THE IMPORTANCE OF PRICE ELASTICITY OF DEMAND
11.3 COMPARATIVE STATICS FOR MONOPOLISTS
11.4 MONOPOLY WITH MULTIPLE PLANTS AND MARKETS
11.5 THE WELFARE ECONOMICS OF MONOPOLY
11.6 WHY DO MONOPOLY MARKETS EXIST?
11.7 MONOPSONY
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
12 CAPTURING SURPLUS
12.1 CAPTURING SURPLUS
12.2 FIRST-DEGREE PRICE DISCRIMINATION: MAKING THE MOST FROM EACH CONSUMER
12.3 SECOND-DEGREE PRICE DISCRIMINATION: QUANTITY DISCOUNTS
12.4 THIRD-DEGREE PRICE DISCRIMINATION: DIFFERENT PRICES FOR DIFFERENT MARKET SEGMENTS
12.5 TYING (TIE-IN SALES)
12.6 ADVERTISING
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
PART 6 IMPERFECT COMPETITION AND STRATEGIC BEHAVIOR
13 MARKET STRUCTURE AND COMPETITION
13.1 DESCRIBING AND MEASURING MARKET STRUCTURE
13.2 OLIGOPOLY WITH HOMOGENEOUS PRODUCTS
13.3 DOMINANT FIRM MARKETS
13.4 OLIGOPOLY WITH HORIZONTALLY DIFFERENTIATED PRODUCTS
13.5 MONOPOLISTIC COMPETITION
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
APPENDIX: The Cournot Equilibrium and the Inverse Elasticity Pricing Rule
14 GAME THEORY AND STRATEGIC BEHAVIOR
14.1 THE CONCEPT OF NASH EQUILIBRIUM
14.2 THE REPEATED PRISONERS’ DILEMMA
14.3 SEQUENTIAL-MOVE GAMES AND STRATEGIC MOVES
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
PART 7 SPECIAL TOPICS
15 RISK AND INFORMATION
15.1 DESCRIBING RISKY OUTCOMES
15.2 EVALUATING RISKY OUTCOMES
15.3 BEARING AND ELIMINATING RISK
15.4 ANALYZING RISKY DECISIONS
15.5 AUCTIONS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
16 GENERAL EQUILIBRIUM THEORY
16.1 GENERAL EQUILIBRIUM ANALYSIS: TWO MARKETS
16.2 GENERAL EQUILIBRIUM ANALYSIS: MANY MARKETS
16.3 GENERAL EQUILIBRIUM ANALYSIS: COMPARATIVE STATICS
16.4 THE EFFICIENCY OF COMPETITIVE MARKETS
16.5 GAINS FROM FREE TRADE
COMPARATIVE ADVANTAGE
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
APPENDIX: Deriving the Demand and Supply Curves for General Equilibrium in Figure 16.10 and Learning-By-Doing Exercise 16.2
17 EXTERNALITIES AND PUBLIC GOODS
17.1 INTRODUCTION
17.2 EXTERNALITIES
17.3 PUBLIC GOODS
CHAPTER SUMMARY
REVIEW QUESTIONS
PROBLEMS
MATHEMATICAL APPENDIXMATHEMATICAL APPENDIX
A.1 FUNCTIONAL RELATIONSHIPS
A.2 WHAT IS A “MARGIN”?
A.3 DERIVATIVES
A.4 HOW TO FIND A DERIVATIVE
A.5 MAXIMIZATION AND MINIMIZATION PROBLEMS
A.6 MULTIVARIABLE FUNCTIONS
A.7 CONSTRAINED OPTIMIZATION
A.8 LAGRANGE MULTIPLIERS
SUMMARY
SOLUTIONS TO SELECTED PROBLEMS
GLOSSARY
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