Microeconomic Theory

Description

This is a comprehensive textbook covering all of the topics taught in the graduate-level, two-semester course in microeconomic theory required of all graduate students in economics. It combines the results of the authors' experience of teaching microeconomics at Harvard and has been fully classroom tested.

• Balanced and in-depth analysis of the essentials of microeconomics
• Covers topics such as noncooperative game theory, information economics, mechanism design and general equilibrium under uncertainty
• 'Self-sufficient' sections allow lecturers to 'mix and match' topics relevant to their courses
• Learning aids include extensive exercises within each chapter and an appendix providing a guide to terminology

About the Author(s)

Andreu Mas-Colell, Louis-Berkman Professor of Economics, Michael D. Whinston, Professor of Economics, and Jerry R. Green, John Leverett Professor in University and David Wells Professor of Political Economics, all at Harvard University

Table of Contents

Part I: Individual Decision-Making
Introduction to Part I
1:Preference and Choice
2:Consumer Choice
3:Classical Demand Theory
4:Aggregate Demand
5:Production
6:Choice under Uncertainty
Part II: Game Theory
Introduction to Part II
7:Chapter 7: Basic Elements of Non-Cooperative Games
8:Chapter 8: Simultaneous-Move Games
9:Chapter 9: Dynamic Games
Part III: Market Equilibrium and Market Failure
Introduction to Part III
10:Chapter 10: Competitive Markets
11:Extrnalities and Public Goods
12:Market Power
13:Adverse Selection, Signalling, and Screening
14:The Principal-Agent Problem
Part IV: General Equilibrium
Introduction to Part IV
15:General Equilibrium Theory: Some Examples
16:Equilibrium and its Basic Welfare Properties
17:The Positive Theory of Equilibrium
18:Some Foundations for Competitive Equilibria
19:General Equilibrium under Uncertainty
20:Equilibrium and Time
Part V: Welfare Economics and Incentives
Introduction to Part V
21:Social Choice Theory
22:Elements of Welfare Economics and Axiomatic Bargaining
23:Incentives and Mechanism Design
Mathematical Appendix

Reviews

"A seminal textbook in that Area. Should be used (and kept) by all graduate students in economic modelisation". - Professor Ferrer, Professor, University of Caen

A very thorough and up to date presentation of the most important topics in Microeconomics. In my opinion this book will be the main text in many years to come. - Ulrich K. Schittko, Universitat Augsburg

This is an excellent text book which will be the "bible" for economic theory. - Dr T. Hens, University of Bonn

This is a superb, challenging text in micro theory - rigorous, solid and complete, priced competitively. - Colm Harmon, Maynooth College

This impressive piece is bound soon to become a standard reference for those teaching microeconomics at the graduate level ... this book reads reasonably well and covers virtually all the material on microeconomic theory that can be taught to doctoral students up to date ... The obvious qualities of this book are clarity and lucidity. In most cases, precise definitions and formal proofs of propositions are supplied, accompanied by appropriate remarks, discussions, and examples. Not only does this rigorous treatment help readers to get a clear idea of the basic theory, but also, as an important byproduct, it teaches them how to reconstruct the proofs themselves ... the main quality of this book is probably that the recourse to abstraction is never fortuitous: it is always justified by a research conciseness and is systematically motivated by simple yet convincing illustrations. - Economica