Microeconomics Theory and Applications

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  • Edition: 5th
  • Format: Hardcover
  • Copyright: 2008-10-10
  • Publisher: Oxford University Press

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Fully revised and expanded, this fifth edition of Microeconomics: Theory and Applications presents all the standard topics of traditional microeconomic theory while offering a modern approach that reflects the many exciting recent developments in the field. With its student-friendly writing style and clear presentation of graphs, this is an ideal text for undergraduate courses in intermediate microeconomics and business programs. Features of the Fifth Edition *Offers a balance of traditional microeconomic topics while addressing contemporary issues and concerns *Introduces an important international dimension to microeconomics, reflecting the strong trend toward globalization in tastes, production, and distribution in today's world *Presents an "at the Frontier" section in each chapter that highlights the most exciting recent examples of more advanced theoretical developments in microeconomics New and Expanded Treatment in the Fifth Edition *Includes electronic commerce, behavioral economics, auctioning airwaves, effect of outsourcing on employment and wages in the United States, fields of education and lifetime earnings, effect of taxation on business decisions *Provides more than 130 new and updated real-world examples of how microeconomic theory can be used to analyze and possibly resolve important present-day economic problems *Offers expanded treatment of important topics such as game theory; financial microeconomics; the new international economies of scale; economics of information; and market structure, efficiency, and regulation *Features Internet site addresses for the most important topics in each chapter Website A companion website is now available at www.oup.com/us/salvatore. This practical learning tool offers updated material, additional examples, and PowerPointR lecture slides for each textbook chapter

Author Biography

Dominick Salvatore is Distinguished Professor of Economics at Fordham University in New York and Honorary Professor at the Shanghai Finance University.

Table of Contents

Introduction to Microeconomicsp. 1
Introductionp. 3
Basic Demand and Supply Analysisp. 25
Theory of Consumer Behavior and Demandp. 55
Consumer Preferences and Choicep. 57
Consumer Behavior and Individual Demandp. 87
Market Demand and Elasticitiesp. 124
Choice Under Uncertaintyp. 158
Production, Costs, and Competitive Marketsp. 187
Production Theoryp. 189
Costs of Productionp. 225
Price and Output Under Perfect Competitionp. 261
Imperfectly Competitive Marketsp. 303
Price and Output Under Pure Monopolyp. 305
Price and Output Under Monopolistic Competition and Oligopolyp. 345
Game Theory and Oligopolistic Behaviorp. 389
Market Structure, Efficiency, and Regulationp. 412
Pricing and Employment of Inputsp. 443
Input Price and Employment Under Perfect Competitionp. 445
Input Price and Employment Under Imperfect Competitionp. 481
Financial Microeconomics: Interest, Investment, and the Cost of Capitalp. 509
General Equilibrium, Efficiency, and Public Goodsp. 549
General Equilibrium and Welfare Economicsp. 551
Externalities, Public Goods, and the Role of Governmentp. 586
The Economics of Informationp. 615
Mathematical Appendixp. 637
Answers to Selected Problemsp. 648
Glossaryp. 678
Name Indexp. 695
Subject Indexp. 697
Table of Contents provided by Blackwell. All Rights Reserved.

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