This textbook aims to provide a comprehensive overview of the essentials of microeconomics. It offers unprecedented depth of coverage, whilst allowing lecturers to 'tailor-make' their courses to suit personal priorities. Covering topics such as noncooperative game theory, information economics, mechanism design and general equilibrium under uncertainty, it is written in a clear, accessible and engaging style and provides practice exercises and a full appendix of terminology.
Part I: Individual Decision-Making; Introduction to Part I; Chapter 1: Preference and Choice; Chapter 2: Consumer Choice; Chapter 3: Classical Demand Theory; Chapter 4: Aggregate Demand; Chapter 5: Production; Chapter 6: Choice under Uncertainty; Part II: Game Theory; Introduction to Part II; Chapter 7: Basic Elements of Non-Cooperative Games; Chapter 8: Simultaneous-Move Games; Chapter 9: Dynamic Games; Part III: Market Equilibrium and Market Failure; Introduction to Part III; Chapter 10: Competitive Markets; Chapter 11: Externalities and Public Goods; Chapter 12: Market Power; Chapter 13: Adverse Selection, Signalling, and Screening; Chapter 14: The Principal-Agent Problem; Part IV: General Equilibrium; Introduction to Part IV; Chapter 15: General Equilibrium Theory: Some Examples; Chapter 16: Equilibrium and its Basic Welfare Properties; Chapter 17: The Positive Theory of Equilibrium; Chapter 18: Some Foundations for Competitive Equilibria; Chapter 19: General Equilibrium under Uncertainty; Chapter 20: Equilibrium and Time; Part V: Welfare Economics and Incentives; Introduction to Part V; Chapter 21: Social Choice Theory; Chapter 22: Elements of Welfare Economics and Axiomatic Bargaining; Chapter 23: Incentives and Mechanism Design.