Intermediate Microeconomics [Paperback]

This innovative textbook contains everything students need to know on an intermediate microeconomics course. Combining classic theory and models with the latest developments, it gently guides learners through the topics and helps them to become increasingly independent. Mathematical understanding is a crucial part of mastering the subject, but can be tricky to obtain. Consequently, numerical tools and engaging exercises are expertly woven into the broader, conceptual discussion of economic theory. This process is progressive and incremental, with steps explained in great detail in the opening chapters to help students gain mathematical fluency and confidence.

A microeconomics textbook that is essential reading for any intermediate level course at university. Although primarily aimed at two-semester undergraduate modules, the comprehensive and accessible writing style means that it is also suitable for certain postgraduate and one-semester courses. The author provides helpful notes on how to adapt the book to your course.

Robert I. Mochrie is a Senior Lecturer in Accountancy, Economics and Finance at the School of Management and Languages, Heriot-Watt University, UK.
Nicholas Marsh is Fellow of the English Association and the author of many titles in the 'Analysing Texts' series, of which he is also the General Editor.

PART I: MARKETS IN CONTEXT
1. Key principles
2. Perfect markets
PART II: RESOURCE ALLOCATION FOR PEOPLE
3. The budget set
4. Preferences
5. Utility functions
6. The most-preferred, affordable bundle
7. Demand functions
8. Price changes
9. The CES utility function
PART III: RESOURCE ALLOCATION FOR FIRMS
10. Production
11. Cost functions
12. Costs and planning
13. Firm supply in perfect competition
14. Equilibrium in perfect competition
PART IV: MARKET POWER
15. Monopoly
16. Price discrimination
17. Oligopoly
18. Game theory: concepts
19. Game theory: applications