Price Theory and Applications (with Economic Applications, InfoTrac 2-Semester Printed Access Card)

by Landsburg, Steven

• ISBN13: 9780324421613
• ISBN10: 0324421613
• Edition: 7th
• Format: Hardcover
• Copyright: 2007-08-02
• Publisher: South-Western College Pub

Summary

Written in the same humorous, reader-friendly style as Professor Landsburg's widely popular trade book, The Armchair Economist, the lively seventh edition of PRICE THEORY AND APPLICATIONS adopts an inductive, hands-on approach that enables students to learn economics by doing. And it requires no knowledge or use of calculus. Using a student-friendly, easy-to-understand format, the book thoroughly develops the standard concepts of intermediate price theory as well as timely nontraditional issues not found in many texts -- such as the economics of information. Social welfare is also highlighted as a unifying concept throughout. The book's rigorous, meticulous development of economic theory is supported by countless intriguing and entertaining exhibits, examples, numerical exercises, and problem sets integrated within the text and included at the end of chapters, giving students countless opportunities to test their comprehension of chapter concepts. With its highly interactive approach, the new Price Theory gives students a solid understanding of economic theory as well as the skills to apply it to the world around them.

Table of Contents

Supply, Demand, and Equilibrium

Prices, Costs, and the Gains from Trade

The Behavior of Consumers. (Appendix: Cardinal Utility)

Consumers in the Marketplace

The Behavior of Firms

Production and Costs

Competition

Welfare Economics and the Gains from Trade. (Appendix: Normative Criteria.)

Knowledge and Information

Monopoly

Market Power, Collusion, and Oligopoly

The Theory of Games

External Costs and Benefits

Common Property and Public Goods

The Demand for Factors of Production

The Market for Labor

Allocating Goods Over Time

Risk and Uncertainty

What Is Economics?

Calculus Supplement

Answers to Exercises

Answers to Problem Sets

Table of Contents provided by Publisher. All Rights Reserved.