Essentials of Microeconomics
Publisher: Bookboon.com
Published: 2013
ISBN-13: 9788776814106
Table of contents: title: Content; title: 1 Introduction; title: 1.1 Plan; title: 2 Supply, Demand, and Market Equilibrium; title: 2.1 Demand; title: 2.1.1 The Demand Curve; title: 2.1.2 When do We Move along the Demand Curve, and When Does It Shift?; title: 2.2 Supply; title: 2.2.1 The Supply Curve; title: 2.3 Equilibrium; title: 2.3.1 How to Find the Equilibrium Point Mathematically; title: 2.4 Price and Quantity Regulations; title: 2.4.1 Minimum Prices; title: 2.4.2 Maximum Prices; title: 2.4.3 Quantity Regulations; title: 3 Consumer Theory; title: 3.1 Baskets of Goods and the Budget Line; title: 3.2 Preferences; title: 3.3 Indifference Curves; title: 3.4 Indifference Maps; title: 3.5 The Marginal Rate of Substitution; title: 3.6 Indifference Curves for Perfect Substitutes and Complementary Goods; title: 3.7 Utility Maximization: Optimal Consumer Choice; title: 3.8 More than Two Goods; title: 4 Demand; title: 4.1 Individual Demand; title: 4.1.1 The Individual Demand Curve; title: 4.1.2 The Engel Curve; title: 4.2 Market Demand; title: 4.3 Elasticity; title: 4.3.1 Price Elasticity; title: 4.3.2 Income Elasticity; title: 4.3.3 Cross-Price Elasticity; title: 5 Income and Substitution Effects; title: 5.1 Normal Good; title: 5.2 Inferior Good; title: 6 Choice under Uncertainty; title: 6.1 Expected Value; title: 6.2 Expected Utility; title: 6.3 Risk Preferences; title: 6.4 Certainty Equivalence and the Risk Premium; title: 6.5 Risk Reduction; title: 7 Production; title: 7.1 The Profit Function; title: 7.2 The Production Function; title: 7.2.1 Average and Marginal Product; title: 7.2.2 The Law of Diminishing Marginal Returns; title: 7.3 Production in the Short Run; title: 7.3.1 The Product Curve in the Short Run; title: 7.4 Production in the Long Run; title: 7.4.1 The Marginal Rate of Technical Substitution; title: 7.4.2 The Marginal Rate of Technical Substitution and the Marginal Products; title: 7.4.3 Returns to Scale; title: 8 Costs; title: 8.1 Production Costs in the Short Run; title: 8.2 Production Cost in the Long Run; title: 8.3 The Relation between Long-Run and Short-Run Average Costs; title: 9 Perfect Competition; title: 9.1 Introduction; title: 9.2 Conditions for Perfect Competition; title: 9.3 Profit Maximizing Production in the Short Run; title: 9.3.1 Strategy to Find the Optimal Short-Run Quantity; title: 9.3.2 The Firm’s Short-Run Supply Curve; title: 9.3.3 The Market’s Short-Run Supply Curve; title: 9.4 Short-Run Equilibrium; title: 9.5 Long-Run Production; title: 9.6 The Long-Run Supply Curve; title: 9.7 Properties of the Equilibrium of a Perfectly Competitive Market; title: 10 Market Interventions and Welfare Effects; title: 10.1 Welfare Analysis; title: 11 Monopoly; title: 11.1 Barriers to Entry; title: 11.2 Demand and Marginal Revenue; title: 11.3 Profit Maximum; title: 11.4 The Deadweight Loss of a Monopoly; title: 11.5 Ways to Reduce Market Power; title: 12 Price Discrimination; title: 12.1 First Degree Price Discrimination; title: 12.2 Second Degree Price Discrimination; title: 12.3 Third Degree Price Discrimination; title: 13 Game Theory; title: 13.1 The Basics of Game Theory; title: 13.2 The Prisoner’s Dilemma; title: 13.3 Nash Equilibrium; title: 13.3.1 Finding the Nash Equilibrium in a Game in Matrix Form; title: 13.4 A Monopoly with No Barriers to Entry; title: 13.4.1 Finding the Nash Equilibrium for a Game Tree; title: 13.5 Backward Induction; title: 14 Oligopoly; title: 14.1 Kinked Demand Curve; title: 14.1.1 How does the Price in the Kinked Demand Curve Arise?; title: 14.2 Cournot Duopoly; title: 14.3 Stackelberg Duopoly; title: 14.4 Bertrand Duopoly; title: 15 Monopolistic Competition; title: 15.1 Conditions for Monopolistic Competition; title: 15.2 Market Equilibrium; title: 15.2.1 Short Run; title: 15.2.2 Long Run; title: 16 Labor; title: 16.1 The Supply of Labor; title: 16.2 The Marginal Revenue Product of Labor; title: 16.3 The Firm’s Short-Run Demand for Labor; title: 16.3.1 Perfect Competition in both the Input and Output Market; title: 16.3.2 Monopoly in the Output Market; title: 16.3.3 Monopsony in the Input Market; title: 16.3.4 Bilateral Monopoly; title: 17 Capital; title: 17.1 Present Value; title: 17.1.1 Bonds; title: 17.1.2 Stocks; title: 17.2 Correction for Risk; title: 17.2.1 Diversifiable and Nondiversifiable Risk; title: 17.3 CAPM: Pricing Assets; title: 17.4 Pricing Business Projects; title: 18 General Equilibrium; title: 18.1 A “Robinson Crusoe” Economy; title: 18.2 Efficiency; title: 18.3 The Edgeworth Box; title: 18.4 Efficient Consumption in an Exchange Economy; title: 18.5 The Two Theorems of Welfare Economics; title: 18.6 Efficient Production; title: 18.7 The Transformation Curve; title: 18.8 Pareto Optimal Welfare; title: 18.8.1 A Definition of Pareto Optimal Welfare; title: 19 Externalities; title: 19.1 Definition; title: 19.2 The Effect of a Negative Externality; title: 19.3 Regulations of Markets with Externalities; title: 20 Public Goods; title: 20.1 Definition of Public and Private Goods; title: 20.2 The Aggregate Willingness to Pay; title: 20.3 Free Riding; title: 21 Asymmetric Information; title: 21.1 Adverse selection; title: 21.1.1 Insurance; title: 21.1.2 Used Cars; title: 21.1.3 Signaling and How to Reduce Problems with Adverse Selection; title: 21.2 Moral hazard; title: 21.2.1 How to Reduce Problems with Moral Hazard; title: 22 Key Words