Your one-stop guide to understanding Microeconomics
Microeconomics For Dummies (with content specific to the
UK reader) is designed to help you understand the economics of
individuals. Using concise explanations and accessible content that
tracks directly to an undergraduate course, this book provides a
student-focused course supplement with an in-depth examination of
each topic. This invaluable companion provides clear information
and real-world examples that bring microeconomics to life and
introduces you to all the key concepts. From supply and demand to
market competition, you’ll understand how the economy works on an
individual level, and how it affects you every day. Before long,
you’ll be conversant in consumers, costs, and competition.
Microeconomics is all about the behaviour of individual people
and individual firms. It sounds pretty straightforward, but it gets
complicated early on. You may not be an economist, but if you’re a
business student at university, the odds are you need to come to
grips with microeconomics. That’s where Microeconomics For
Dummies comes in, walking you through the fundamental concepts
and giving you the understanding you need to master the
material.
* Understand supply, demand, and equilibrium
* Examine the consumer decision making process
* Delve into elasticity and costs of production
* Learn why competition is healthy and monopolies are not
Even the brightest business students can find economics
intimidating, but the material is essential to a solid grasp of how
the business world works. The good news is that you’ve come to the
right place.
Tabella dei contenuti
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 Firm Behaviour: 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 67
Part III: Uncovering the Alchemy of Firms’ Inputs and Outputs 85
Chapter 7: Working with Different Costs and Cost Curves 87
Chapter 8: Squeezing Out Every Last Drop of Profit 105
Chapter 9: Supplying the Demanded Information on Supply and Demand 117
Chapter 10: Dreaming of the Consumer’s Delight: Perfect Competition 137
Part IV: Delving into Markets, Market Failure and Welfare Economics 149
Chapter 11: Stepping into the Real World: Oligopoly and Imperfect Competition 151
Chapter 12: Appreciating the Fundamental Theorems of Welfare Economics 167
Chapter 13: Controlling Markets with a Monopoly 179
Chapter 14: Examining Market Failure: Pollution and Parks 197
Chapter 15: Understanding the Dangers of Asymmetric Information 209
Part V: Thinking Strategically: Life Is Just a Game! 219
Chapter 16: Playing Games with Economic Theory 221
Chapter 17: Keeping Things Stable: The Nash Equilibrium 239
Chapter 18: Knowing How to Win at Auctions 249
Chapter 19: Deciphering the Signals: Threats and Benefits 261
Part VI: The Part of Tens 271
Chapter 20: Meeting Ten Great Microeconomists 273
Chapter 21: Ten Top Tips to Take Away 281
Glossary 289
Index 295
Circa l’autore
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, Ph D, is a lecturer at New College of the Humanities, where he covers second year
micro- and macroeconomics.
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