Microeconomics: Static and Dynamic Analysis

This book provides a comprehensive overview of microeconomics, covering key concepts, models, and applications, with a focus on equilibrium and disequilibrium. It is intended for undergraduate and graduate students in economics and related fields.

Format: Hardback
Length: 509 pages
Publication date: 10 December 2022
Publisher: Springer International Publishing AG

This comprehensive textbook offers a thorough exploration of the core concepts and principles of microeconomics, providing students with a solid foundation in the field. It introduces students to modern microeconomic models, assumptions, and empirical applications, while also equipping them with the necessary mathematical tools for analysis. The book covers a wide range of topics, including economic behavior, consumer theory, the theory of the firm, partial and general equilibrium theory, industrial organization, bargaining theory, and Pareto optimality. By delving into these subjects, students gain a deeper understanding of economic outcomes both at equilibrium and in dynamic contexts, encompassing both equilibrium and disequilibrium. This textbook is designed specifically for undergraduate and graduate students in economics and related fields who are eager to delve into the fundamental theories and applications of microeconomics.

Introduction:
Microeconomics is a branch of economics that focuses on the behavior and interactions of individuals and firms in the marketplace. It examines how resources are allocated and used to achieve the optimal outcomes for both consumers and producers. This textbook aims to provide a comprehensive overview of the fundamental concepts and principles of microeconomics, including the models, assumptions, and empirical applications used in the field.

Models and Assumptions:
Microeconomics relies on a set of models and assumptions to explain economic behavior. These models are based on the principles of supply and demand, market competition, and individual decision-making. The key assumptions include the existence of scarcity, the rationality of individuals, and the ability of markets to allocate resources efficiently.

Economic Behavior:
Microeconomics examines the behavior of individuals and firms in the marketplace. It explores how individuals make decisions about the allocation of their resources, including the consumption of goods and services, the production of goods and services, and the investment of capital. The theory also considers the factors that influence these decisions, such as price, quality, availability, and consumer preferences.

Consumer Theory:
Consumer theory is a fundamental aspect of microeconomics that examines the behavior of consumers in the marketplace. It focuses on the factors that influence consumer choices, such as price, quality, availability, and consumer preferences. The theory also considers the consumer's decision-making process, including the information they seek, the evaluation of alternatives, and the purchase decision.

Theory of the Firm:
The theory of the firm is a fundamental aspect of microeconomics that examines the behavior of firms in the marketplace. It focuses on the factors that influence the decision-making of firms, such as the cost of production, market competition, and the nature of the product or service. The theory also considers the strategies that firms use to maximize profits, such as price discrimination, product differentiation, and vertical integration.

Partial and General Equilibrium Theory:
Partial and general equilibrium theory are two important branches of microeconomics that examine the behavior of markets and the interactions between different agents in the marketplace. Partial equilibrium theory focuses on the behavior of a particular market or industry, while general equilibrium theory considers the behavior of multiple markets and industries.

Industrial Organization:
Industrial organization is a branch of microeconomics that examines the structure and behavior of industries. It focuses on the factors that influence the formation and operation of firms, such as market competition, government regulations, and technological change. The theory also considers the strategies that firms use to compete in their industries, such as price discrimination, product differentiation, and vertical integration.

Bargaining Theory:
Bargaining theory is a branch of microeconomics that examines the process of negotiation and bargaining between individuals and firms. It focuses on the factors that influence the outcomes of negotiations, such as the distribution of power, the nature of the goods or services being exchanged, and the preferences of the parties involved. The theory also considers the strategies that parties use to achieve their goals, such as negotiation, compromise, and coercion.

Pareto Optimality:
Pareto optimality is a concept in microeconomics that refers to the state of equilibrium in which no individual can be made better off without making someone else worse off. It is a fundamental principle of welfare economics and is used to evaluate the efficiency of economic systems and policies.

Conclusion:
Microeconomics is a fascinating and important field of study that provides a comprehensive understanding of the behavior and interactions of individuals and firms in the marketplace. This textbook offers a comprehensive exploration of the core concepts and principles of microeconomics, including the models, assumptions, and empirical applications used in the field. By delving into these subjects, students gain a deeper understanding of economic outcomes both at equilibrium and in dynamic contexts, encompassing both equilibrium and disequilibrium. This textbook is designed specifically for undergraduate and graduate students in economics and related fields who are eager to delve into the fundamental theories and applications of microeconomics.

Weight: 945g
Dimension: 235 x 155 (mm)
ISBN-13: 9783031105531
Edition number: 1st ed. 2022