Prices and Quantities: Fundamentals of Microeconomics

Author:   Rakesh V. Vohra (University of Pennsylvania)
Publisher:   Cambridge University Press
ISBN:  

9781108715690


Pages:   220
Publication Date:   17 February 2020
Format:   Paperback
Availability:   Manufactured on demand   Availability explained
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Prices and Quantities: Fundamentals of Microeconomics


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Overview

Rakesh V. Vohra offers a unique approach to studying and understanding intermediate microeconomics by reversing the conventional order of treatment, starting with topics that are mathematically simpler and progressing to the more complex. The book begins with monopoly, which requires single variable rather than multivariable calculus and allows students to focus clearly on the fundamental trade-off at the heart of economics: margin versus volume. Imperfect competition and the contrast with monopoly follows, introducing the notion of Nash equilibrium. Perfect competition is addressed toward the end of the book, and framed as a model of non-strategic behavior by firms and agents. The last chapter is devoted to externalities, with an emphasis on how one might design competitive markets to price externalities and linking the difficulties to the problem of efficient provision of public goods. Real-life examples engage the reader while encouraging them to think critically about the interplay between model and reality.

Full Product Details

Author:   Rakesh V. Vohra (University of Pennsylvania)
Publisher:   Cambridge University Press
Imprint:   Cambridge University Press
Dimensions:   Width: 17.00cm , Height: 1.10cm , Length: 24.40cm
Weight:   0.440kg
ISBN:  

9781108715690


ISBN 10:   1108715699
Pages:   220
Publication Date:   17 February 2020
Audience:   College/higher education ,  Professional and scholarly ,  Tertiary & Higher Education ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand   Availability explained
We will order this item for you from a manufactured on demand supplier.

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Reviews

'A leader in the field provides a readable but rigorous introduction to microeconomics with clear, mathematical arguments that students will depend on to fill conceptual gaps in their understanding of economic markets.' Paul Klemperer, Edgeworth Professor of Economics, University of Oxford 'This beautifully written textbook gives a masterfully innovative development of modern intermediate microeconomics, elegantly and concisely building core principles by moving from monopoly to imperfect competition and basic game theory, then to consumer theory and general equilibrium. Woven throughout are compelling and engaging examples drawn from classics, history, literature, and current events, making it as enjoyable to read as it is instructive, and ideally suited for learning modern economics.' Chris Shannon


'A leader in the field provides a readable but rigorous introduction to microeconomics with clear, mathematical arguments that students will depend on to fill conceptual gaps in their understanding of economic markets.' Paul Klemperer, Edgeworth Professor of Economics, University of Oxford 'This beautifully written textbook gives a masterfully innovative development of modern intermediate microeconomics, elegantly and concisely building core principles by moving from monopoly to imperfect competition and basic game theory, then to consumer theory and general equilibrium. Woven throughout are compelling and engaging examples drawn from classics, history, literature, and current events, making it as enjoyable to read as it is instructive, and ideally suited for learning modern economics.' Chris Shannon, University of California, Berkeley 'A leader in the field provides a readable but rigorous introduction to microeconomics with clear, mathematical arguments that students will depend on to fill conceptual gaps in their understanding of economic markets.' Paul Klemperer, Edgeworth Professor of Economics, University of Oxford 'This beautifully written textbook gives a masterfully innovative development of modern intermediate microeconomics, elegantly and concisely building core principles by moving from monopoly to imperfect competition and basic game theory, then to consumer theory and general equilibrium. Woven throughout are compelling and engaging examples drawn from classics, history, literature, and current events, making it as enjoyable to read as it is instructive, and ideally suited for learning modern economics.' Chris Shannon, University of California, Berkeley


Author Information

Rakesh V. Vohra is the George A. Weiss and Lydia Bravo Weiss University Professor at the University of Pennsylvania. He is the author of Principles of Pricing: An Analytical Approach (with Lakshman Krishnamurthi, 2012) and Mechanism Design: A Linear Programming Approach (2011).

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