ABSTRACT

Essentials of Microeconomics is an excellent introduction to microeconomics. It presents the basic tools of microeconomics clearly and concisely. The book presents a vigorous treatment of all relevant introductory microeconomic concepts. The book also emphasizes on modern economics — game theory and imperfect markets. Each chapter is self-contained and includes the required key mathematical skills at the start.

This book is ideal not only for introductory microeconomics course, but its level of analysis also makes the book appropriate for introductory level economics taught at postgraduate level. With the emphasis on strategy, this text is also well suited for use in business economics course.

part 1|24 pages

Key concepts and tools

chapter 1|4 pages

Key economic concepts

chapter 2|6 pages

Key mathematical tools

chapter 3|12 pages

Key strategic tools

part 2|19 pages

Gains from trade

chapter 4|10 pages

Trade and the PPF

chapter 5|8 pages

Bargaining

part 3|44 pages

Market fundamentals

chapter 6|6 pages

Demand

chapter 7|12 pages

Production and costs

chapter 8|4 pages

Supply

chapter 9|10 pages

Equilibrium and welfare

chapter 10|12 pages

Elasticity

part 4|56 pages

Types of markets

chapter 11|2 pages

Introduction to markets

chapter 12|12 pages

Perfect competition

chapter 13|18 pages

Monopoly

chapter 14|6 pages

Monopolistic competition

chapter 15|16 pages

Oligopoly

part 5|42 pages

Market failures

chapter 16|16 pages

Price regulation, taxes and subsidies

chapter 17|16 pages

Externalities

chapter 18|6 pages

Public goods and common resources

chapter 19|2 pages

The Theory of Second Best

part 6|13 pages

International trade

chapter 20|12 pages

International trade

part 7|36 pages

Review

chapter 21|34 pages

Questions and answers