Microeconomics for Dummies

Informationen zum Autor Lynne Pepall , PhD, is a professor of economics at Tufts University. She has taught microeconomics at both graduate and undergraduate levels since 1987. Peter Antonioni is a senior teaching fellow at the Department of Management Science and Innovation, University College, London, and coauthor of Economics For Dummies , 2nd UK Edition. Manzur Rashid , PhD, is a lecturer at New College of the Humanities, where he covers second-year micro- and macroeconomics. Klappentext Learn to: Analyze how markets work and how they fail Achieve efficiency in a market Understand strategic interaction in the marketplace The fast and easy way to make microeconomics your minion The study of microeconomics isn't for the faint of heart. Luckily, this friendly guide is here to make it manageable, whether you're studying the subject for class or putting it to real-world use. Cutting through confusing jargon and complemented with lots of real-life examples, it helps you discover how individuals and businesses use microeconomics to analyze trends from the bottom up. Small units are a big deal -- find out how people and firms use microeconomics in order to make smart business decisions, how those decisions become markets, and what causes markets to fail Consider the consumer -- discover factors that affect consumer choices, how we deal with constraints, and how decisions affect the greater economy Inside a firm's decision-making -- make sense of costs and cost curves, profit maximization, supply and demand, equilibrium analysis, and the effect of competition The bigger picture -- examine the fundamental theorems of welfare economics, what a monopoly creates, and what happens when the market doesn't make what we want Strategize it -- discover how game theory, auction theory, and the Nash Equilibrium come into play in the realm of microeconomics Open the book and find: The principal areas of microeconomics Key roles of decision-making, competition, and cooperation When a firm should shut down and exit - and when it should plow full-steam ahead with confidence How economists model a representative consumer Why some markets don't work well and others work nearly perfectly Ten great microeconomists worth knowing Inhaltsverzeichnis Introduction 1 Part I: Getting Started with Microeconomics 5 Chapter 1: Discovering Why Microeconomics Is a Big Deal 7 Chapter 2: Considering Consumer Choice: Why Economists Find You Fascinating 17 Chapter 3: Looking at the Behavior of Firms: What They Are and What They Do 31 Part II: Doing the Best You Can: Consumer Theory 43 Chapter 4: Living a Life without Limits 45 Chapter 5: Considering the Art of the Possible: The Budget Constraint 55 Chapter 6: Achieving the Optimum in Spite of Constraints 69 Part III: Uncovering the Alchemy of Firms' Inputs and Outputs 87 Chapter 7: Working with Different Costs and Cost Curves 89 Chapter 8: Squeezing Out Every Last Drop of Profit 107 Chapter 9: Supplying the Demanded Information on Supply and Demand 121 Chapter 10: Dreaming of the Consumer's Delight: Perfect Competition 143 Part IV: Delving into Markets, Market Failure, and Welfare Economics 155 Chapter 11: Stepping into the Real World: Oligopoly and Imperfect Competition 157 Chapter 12: Appreciating the Fundamental Theorems of Welfare Economics 175 Chapter 13: The Monopoly Game 187 Chapter 14: Examining Market Failure: Pollution and Parks 203 Chapter 15: Understanding the Dangers of Asymmetric Information 215 Part V: Thinking Strategically: Life Is Just a Game! 225 Chapter 16: Playing Games with Economic Theory 227 Chapter 17: Keeping Things Stable: The Nash Equilibr...

Product details

• Authors: Peter Antonioni, Consumer Dummies, Consumer Dummies, Lynne Pepall, Manzur Rashid
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Paperback / Softback
• Released: 29.02.2016
• EAN: 9781119184393
• ISBN: 978-1-119-18439-3
• Series: For Dummies
• Subject: Social sciences, law, business > Business > Economics