A short course in intermediate microeconomics with calculus:
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Main Authors: | , |
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Format: | Book |
Language: | English |
Published: |
Cambridge [u.a.]
Cambridge Univ. Press
2013
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Edition: | 1. publ. |
Subjects: | |
Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025206454&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
Physical Description: | XIII, 381 S. graph. Darst. |
ISBN: | 9781107017344 1107017343 9781107623767 1107623766 |
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adam_text | Titel: A short course in intermediate microeconomics with calculus
Autor: Serrano, Roberto
Jahr: 2013
Contents
Preface page xi
1 Introduction 1
Part I Theory of the Consumer
2 Preferences and Utility 7
2.1 Introduction 7
2.2 The Consumer s Preference Relation 8
2.3 The Marginal Rate of Substitution 13
2.4 The Consumer s Utility Function 16
2.5 Utility Functions and the Marginal Rate of Substitution 18
2.6 A Solved Problem 21
Exercises 22
Appendix. Differentiation of Functions 24
3 The Budget Constraint and the Consumer s Optimal Choice 25
3.1 Introduction 25
3.2 The Standard Budget Constraint, the Budget Set, and the
Budget Line 25
3.3 Shifts of the Budget Line 27
3.4 Odd Budget Constraints 28
3.5 Income and Consumption over Time 29
3.6 The Consumer s Optimal Choice: Graphical Analysis 32
3.7 The Consumer s Optimal Choice: Utility Maximization
Subject to the Budget Constraint 35
3.8 Two Solved Problems 36
Exercises 38
Contents
Appendix. Maximization Subject to a Constraint:
The Lagrange Function Method 40
Demand Functions 43
4.1 Introduction 43
4.2 Demand as a Function of Income 44
4.3 Demand as a Function of Price 46
4.4 Demand as a Function of Price of the Other Good 49
4.5 Substitution and Income Effects 52
4.6 The Compensated Demand Curve 56
4.7 Elasticity 57
4.8 The Market Demand Curve 59
4.9 A Solved Problem 61
Exercises 62
Supply Functions for Labor and Savings 64
5.1 Introduction to the Supply of Labor 64
5.2 Choice between Consumption and Leisure 64
5.3 Substitution and Income Effects in Labor Supply 67
5.4 Other Types of Budget Constraints 69
5.5 Taxing the Consumer s Wages 74
5.6 Saving and Borrowing: The Intertemporal Choice
of Consumption 76
5.7 The Supply of Savings 80
5.8 A Solved Problem 83
Exercises 84
Welfare Economics 1: The One-Person Case 86
6.1 Introduction 86
6.2 Welfare Comparison of a Per-Unit Tax and an
Equivalent Lump-Sum Tax 86
6.3 Rebating a Per-Unit Tax 89
6.4 Measuring a Change in Welfare for One Person 91
6.5 Measuring Welfare for Many People; A Preliminary
Example 95
6.6 A Solved Problem 96
Exercises 98
Appendix. Revealed Preference 99
Welfare Economics 2: The Many-Person Case 103
7.1 Introduction 103
7.2 Quasilinear Preferences 104
7.3 Consumer s Surplus 106
7.4 A Consumer s Surplus Example with Quasilinear Preferences 109
7.5 Consumers Surplus 112
7.6 A Last Word on the Quasilinearity Assumption 114
Contents vii
7.7 A Solved Problem 115
Exercises 116
Part II Theory of the Producer
8 Theory of the Firm 1: The Single-Input Model 121
8.1 Introduction 121
8.2 The Competitive Firm s Problem, Focusing on Its Output 122
8.3 The Competitive Firm s Problem, Focusing on Its Input 132
8.4 Multiple Outputs 136
8.5 A Solved Problem 138
Exercises 139
9 Theory of the Firm 2: The Long-Run, Multiple-Input Model 141
9.1 Introduction 141
9.2 The Production Function in the Long Run 143
9.3 Cost Minimization in the Long Run 150
9.4 Profit Maximization in the Long Run 155
9.5 A Solved Problem 159
Exercises 161
10 Theory of the Firm 3: The Short-Run, Multiple-Input Model 163
10.1 Introduction 163
10.2 The Production Function in the Short Run 164
10.3 Cost Minimization in the Short Run 165
10.4 Profit Maximization in the Short Run 169
10.5 A Solved Problem 171
Exercises 173
Part III Partial Equilibrium Analysis: Market Structure
11 Perfectly Competitive Markets 177
11.1 Introduction 177
11.2 Perfect Competition 177
11.3 Market/Industry Supply 179
11.4 Equilibrium in a Competitive Market 183
11.5 Competitive Equilibrium and Social Surplus Maximization 185
11.6 The Deadweight Loss of a Per-Unit Tax 190
11.7 A Solved Problem 194
Exercises 197
12 Monopoly and Monopolistic Competition 199
12.1 Introduction 199
12.2 The Classical Solution to Monopoly 200
12.3 Deadweight Loss from Monopoly: Comparing
Monopoly and Competition 204
viii Contents
12.4 Price Discrimination 206
12.5 Monopolistic Competition 212
12.6 A Solved Problem 216
Exercises 219
13 Duopoly 221
13.1 Introduction 221
13.2 Cournot Competition 222
13.3 More on Dynamics 227
13.4 Collusion 228
13.5 Stackelberg Competition 232
13.6 Bertrand Competition 233
13.7 A Solved Problem 238
Exercises 240
14 Game Theory 242
14.1 Introduction 242
14.2 The Prisoners Dilemma, and the Idea of Dominant
Strategy Equilibrium 243
14.3 Prisoners Dilemma Complications: Experimental
Evidence and Repeated Games 246
14.4 The Battle of the Sexes, and the Idea of Nash Equilibrium 247
14.5 Battle of the Sexes Complications: Multiple or No Nash
Equilibria, and Mixed Strategies 249
14.6 The Expanded Battle of the Sexes, When More Choices
Make Players Worse Off 251
14.7 Sequential Move Games 253
14.8 Threats 257
14.9 A Solved Problem 258
Exercises 259
Part IV General Equilibrium Analysis
15 An Exchange Economy 263
15.1 Introduction 263
15.2 An Economy with Two Consumers and Two Goods 263
15.3 Pareto Efficiency 265
15.4 Competitive or Walrasian Equilibrium 272
15.5 The Two Fundamental Theorems of Welfare Economics 275
15.6 A Solved Problem 280
Exercises 282
16 A Production Economy 284
16.1 Introduction 284
16.2 A Robinson Crusoe Production Economy 285
Contents ix
16.3 Pareto Efficiency 286
16.4 Walrasian or Competitive Equilibrium 289
16.5 When There Are Two Goods, Bread and Rum 293
16.6 The Two Welfare Theorems Revisited 297
16.7 A Solved Problem 300
Exercises 301
Part V Market Failure
17 Externalities 305
17.1 Introduction 305
17.2 Examples of Externalities 306
17.3 The Oil Refiner and the Fish Farm 308
17.4 Classical Solutions to the Externality Problem: Pigou and Coase 312
17.5 Modern Solutions for the Externality Problem: Markets
for Pollution Rights 316
17.6 Modern Solutions for the Externality Problem: Cap and Trade 317
17.7 A Solved Problem 320
Exercises 322
18 Public Goods 325
18.1 Introduction 325
18.2 Examples of Public Goods 326
18.3 A Simple Model of an Economy with a Public Good 327
18.4 The Samuelson Optimality Condition 332
18.5 The Free Rider Problem and Voluntary Contribution
Mechanisms 333
18.6 How to Get Efficiency in Economies with Public Goods 335
18.7 A Solved Problem 342
Exercises 343
19 Uncertainty and Expected Utility 346
19.1 Introduction and Examples 346
19.2 Von Neumann-Morgenstern Expected Utility: Preliminaries 347
19.3 Von Neumann-Morgenstern Expected Utility:
Assumptions and Conclusion 350
19.4 Von Neumann-Morgenstern Expected Utility: Examples 352
19.5 A Solved Problem 356
Exercises 357
20 Uncertainty and Asymmetric Information 359
20.1 Introduction 359
20.2 When Sellers Know More Than Buyers: The Market for
Lemons 360
20.3 When Buyers Know More Than Sellers: A Market for
Health Insurance 361
20.4 When Insurance Encourages Risk Taking: Moral Hazard 363
20.5 The Principal-Agent Problem 366
20.6 What Should Be Done about Market Failures Caused by
Asymmetric Information 371
20.7 A Solved Problem 373
Exercises 374
Index 311
|
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author | Serrano, Roberto Feldman, Allan 1943- |
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genre_facet | Lehrbuch |
id | DE-604.BV040352420 |
illustrated | Illustrated |
indexdate | 2024-12-20T16:13:11Z |
institution | BVB |
isbn | 9781107017344 1107017343 9781107623767 1107623766 |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-025206454 |
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owner_facet | DE-945 DE-83 DE-188 |
physical | XIII, 381 S. graph. Darst. |
publishDate | 2013 |
publishDateSearch | 2013 |
publishDateSort | 2013 |
publisher | Cambridge Univ. Press |
record_format | marc |
spellingShingle | Serrano, Roberto Feldman, Allan 1943- A short course in intermediate microeconomics with calculus Microeconomics / Mathematical methods Mikroökonomie (DE-588)4039225-9 gnd |
subject_GND | (DE-588)4039225-9 (DE-588)4123623-3 |
title | A short course in intermediate microeconomics with calculus |
title_auth | A short course in intermediate microeconomics with calculus |
title_exact_search | A short course in intermediate microeconomics with calculus |
title_full | A short course in intermediate microeconomics with calculus Roberto Serrano ; Allan M. Feldman |
title_fullStr | A short course in intermediate microeconomics with calculus Roberto Serrano ; Allan M. Feldman |
title_full_unstemmed | A short course in intermediate microeconomics with calculus Roberto Serrano ; Allan M. Feldman |
title_short | A short course in intermediate microeconomics with calculus |
title_sort | a short course in intermediate microeconomics with calculus |
topic | Microeconomics / Mathematical methods Mikroökonomie (DE-588)4039225-9 gnd |
topic_facet | Microeconomics / Mathematical methods Mikroökonomie Lehrbuch |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025206454&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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