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This book employs a structured, step-by-step approach to economic problem-solving. Each chapter begins with specific learning objectives, guiding students on what they should achieve. Key economic terms and concepts appear in lists, and brief overviews of each module help students connect with the material before diving in. The book highlights what students need to solve each problem and offers hints, enhancing their problem-solving skills.
Primarily targeting undergraduate students in intermediate microeconomics courses, this book also benefits those in more advanced courses. It aids in teaching, testing, and homework assignments, helping students prepare for tests and exams. Practical learning comes through visual aids like graphs and charts, making complex concepts easier to understand. With over 400 solved short answer and essay questions, and over 350 multiple-choice questions with explanations, students have extensive practice opportunities.
The "Requirement and Clue" feature directs students' attention to what is required and provides hints for solving each problem, addressing common issues students face in problem-solving. The case studies do not restrict themselves to any particular country, making it a versatile resource for economic thinkers worldwide. Suitable for use with major textbooks on intermediate microeconomics, the book enhances its utility as a supplementary resource.
Overall, the book fills a gap in intermediate microeconomics education by providing a comprehensive, practical, and structured approach to problem-solving. It serves as an invaluable tool for both students and professors, aiding in teaching, testing, and homework assignments.
List of contents
Chapter 1: Introduction.- Chapter 2: Consumers, Producers, and Market Transactions.- Chapter 3: Demand, Supply, and Market Price.- Chapter 4: Elasticity.- Chapter 5: Cardinal Utility and Consumer Choice.- Chapter 6: Ordinal Utility (Indifference Curve) Analysis of Consumer Choice.- Chapter 7: The Theory of Production.- Chapter 8: The Costs of Production.- Chapter 9: Linear Programming Concepts.- Chapter 10: Competitive Price Determination.- Chapter 11: Monopoly.- Chapter 12: Monopolistic Competition.- Chapter 13: Oligopoly.- Chapter 14: The Market for Resources.- Chapter 15: General Equilibrium.- Chapter 16: Market Failures: Externalities and Government Intervention.- Chapter 17: Uncertainty and Imperfect Information.
About the author
Elijah M. James is the president of James Consulting Services in Montreal, Canada. He was a professor at Concordia University prior to consulting. As a professor, he taught graduate courses in managerial economics (micro and macro), national and international economics, and more. In addition to Concordia University, he has taught at McGill University, John Abbott College, and Dawson College.
