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Microeconomic Theory

Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green

September 1995

ISBN: 9780195102680

998 pages

In Stock

Price: £57.99



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
    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


"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