Chicago Price Theory

Chicago Price Theory is an authoritative textbook that provides an essential introduction to price theory, emphasizing its practical applications and enabling students to learn by doing. Based on the legendary Economics 301 course taught at the University of Chicago, the book offers chapter-length examples and video lectures to help students understand and apply the theory to real-world situations.

Format: Hardback
Length: 248 pages
Publication date: 10 September 2019
Publisher: Princeton University Press

Price theory is a robust analytical framework for quantifying, elucidating, and forecasting human behavior in the marketplace. This comprehensive textbook offers an indispensable introduction to the subject, presenting a diverse range of practical approaches that empower students to acquire knowledge through hands-on experience. Drawing upon Economics 301, the renowned Ph.D. course taught at the University of Chicago, the book underscores the significance of applying price theory to fully grasp its principles.

Chicago Price Theory immerses readers in chapter-length examples, including addictive goods, urban property pricing, the ramifications of prohibition, the value of a statistical life, and occupational choice. It examines human behavior in the aggregate of an industry, region, or demographic group, while also providing models of individuals to offer insights into the aggregate. The book elucidates the surprising answers that price theory can yield to practical inquiries about taxation, education, the housing market, government subsidies, and numerous other topics.

Emphasizes the application of price theory, enabling students to learn by doing.

Features chapter-length examples such as addictive goods, urban property pricing, the consequences of prohibition, and the value of a statistical life.

Supported by video lectures taught by Kevin M. Murphy and Gary Becker.

The video course enables students to learn the theory at home and practice the applications in the classroom.

Weight: 720g
Dimension: 260 x 187 x 20 (mm)
ISBN-13: 9780691192970