Pearson eText Microeconomics -- Access Card

by Robert Pindyck / Daniel Rubinfeld

• ISBN13: 9780136850892
• ISBN10: 0136850898
• Format: Nonspecific Binding
• Copyright: 2020-09-18
• Publisher: PEARSO

Summary

Microeconomics and its role in decision making and public policy

Microeconomics exposes readers to topics that play a central role in microeconomics. From game theory and competitive strategy, to the roles of uncertainty and information, and the analysis of pricing by firms with market power, the text helps you understand what's going on in the world of business. It also shows you how microeconomics can be used as a practical tool for decision-making and for designing and understanding public policy. The 9th Edition further illustrates microeconomics' relevance and usefulness with new coverage and examples, and an improved exposition that is clear and accessible as well as lively and engaging. With Microeconomics, you will be able to fully appreciate how a modern economy functions.

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Author Biography

Robert S. Pindyck is the Bank of Tokyo-Mitsubishi Ltd. Professor of Economics and Finance in the Sloan School of Management at M.I.T. Daniel L. Rubinfeld is the Robert L. Bridges Professor of Law and Professor of Economics Emeritus at the University of California, Berkeley, and Professor of Law at NYU. Both received their PhDs from M.I.T., Pindyck in 1971 and Rubinfeld in 1972. Professor Pindyck's research and writing have covered a variety of topics in microeconomics, including the effects of uncertainty on firm behavior and market structure; the behavior of natural resource, commodity, and financial markets; environmental economics; and criteria for investment decisions. Professor Rubinfeld, who served as chief economist at the Department of Justice in 1997 and 1998, is the author of a variety of articles relating to antitrust, competition policy, law and economics, law and statistics, and public economics.

Pindyck and Rubinfeld are also co-authors of Econometric Models and Economic Forecasts, another best-selling textbook that makes a perfect gift (birthdays, weddings, bar mitzvahs, you name it) for the man or woman who has everything. These two authors are always looking for ways to earn some extra spending money, so they enrolled as human subjects in a double-blind test of a new hair restoration medication. Rubinfeld strongly suspects that he is being given the placebo.

This is probably more than you want to know about these authors, but for further information, see their websites: http://web.mit.edu/rpindyck/www and http://www.law.berkeley.edu/faculty/rubinfeldd.

Table of Contents

Part 1: Introduction: Markets and Prices
1. Preliminaries
2. The Basics of Supply and Demand

Part 2: Producers, Consumers, and Competitive Markets
3. Consumer Behavior
4. Individual and Market Demand
5. Uncertainty and Consumer Behavior
6. Production
7. The Cost of Production
8. Profit Maximization and Competitive Supply
9. The Analysis of Competitive Markets

Part 3: Market Structure and Competitive Strategy
10. Market Power: Monopoly and Monopsony
11. Pricing with Market Power
12. Monopolistic Competition and Oligopoly
13. Game Theory and Competitive Strategy
14. Markets for Factor Inputs
15. Investment, Time, and Capital Markets

Part 4: Information, Market Failure, and the Role of Government
16. General Equilibrium and Economic Efficiency
17. Markets with Asymmetric Information
18. Externalities and Public Goods
19. Behavioral Economics

Appendix: The Basics of Regression
Answers to Selected Exercises