Microeconomics: a Modern Approach 1e

Professor Schotter believes the future of teaching microeconomics will be heavily connected with the use of experimental tools. And with the exciting new MICROECONOMICS: A MODERN APPROACH, your students will be well prepared. Applying intermediate economics to everyday life, this innovative first edition is built on an experimental economics framework that emphasizes game theory, strategic analysis, and organization of the firm without skimping on traditional topics like consumer choice, production and markets. Each chapter and section builds upon a unifying theme of how economic institutions develop to solve problems that arise in a society. Concepts are presented within the context of a society that starts out in a primitive state of nature and gradually develops the characteristics and institutions of a modern economy. The text also nurtures critical thinking skills by presenting theories, as well as their deficiencies. Illustrating various points of view, MICROECONOMICS: A MODERN APPROACH encourages students to not just study theory, but apply their knowledge learned to real-world issues.
* Game Theory & Strategic Analysis: One of the major analytical tools used in the book is game theory. Chapter 11 introduces the fundamentals of game theory, illustrating how it can serve as a tool for strategic business analysis. Throughout the remaining chapters, game theory is used as a means of understanding the different strategies of the various parties to a situation.
* Nontraditional Chapters: Cutting-edge coverage includes several chapters not found in other texts, including the internal organization of the firm (ch. 8), entry prevention (ch. 12), natural monopoly and the economics of regulation (ch. 10) and time inconsistency. If these chapters do not fit the objectives of your course, they can be skipped without causing any problems in understanding for future chapters.

ISBN : 9780324588576, Author : Andrew Schotter, Publisher : South Western - 2009, Dimensions : 25.2 x 20.4 x 3.2 cm , Paperback : 744 pages

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