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Microeconomic Theory and Contemporary Issues

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Language:  English
This book attempts to present a theoretical and practical analysis in microeconomics, commencing with consumer preferences and production and cost theory.
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This book attempts to present a theoretical and practical analysis in microeconomics. Commencing with consumer preferences and production and cost theory, demand and supply analysis are used for price and output determination based on utility maximization and profit maximization. Several applications of demand and supply are discussed. 

The behaviour of firms under perfect and imperfect competition is analysed. Some applications of different product markets are presented at the end of each chapter. Determination of input prices and employment in perfect and imperfectly competitive markets and the role of labour unions are also discussed.

The final analysis of the book considers market failures including positive and negative externality and provision of public goods.

  1. Consumer Behaviour and the Demand Curve 
  2. Theory of Production 
  3. Short Run and the Long Run Cost Functions 
  4. Perfect Competition 
  5. Monopoly 
  6. Monopolistic Competition and Oligopoly 
  7. Input Markets 
  8. Externality, Public Goods and Government Regulations 

It's just great, its view of economics is just wowing.
The applications, the exercises and the games were superb! Very good!
Great and educative!
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About the Authors
Mehdi

Mehdi Monadjemi

Mehdi completed a B.S. in Economics from Utah State University and a M.S. and a Ph.D in Economics from Southern Illinois University, Carbondale, Illinois, U.S.A. His extensive experience in the banking and finance sector includes positions as Executive Director, Bank Refah and Bank Omran, Tehran, Iran, Economist, First Wisconsin National Bank of Milwaukee, London and Economist, Research Department, Reserve Bank of Australia. After eight years as Associate Professor of Economics, School of Economics and Political Science, The National University of Iran, he spent a further 20 years as an academic economist at the University of New South Wales, Australia including the Associate Head of the School of Economics position. He has held Visiting Scholar positions at Columbia University, London School of Economics and Political Science, Southampton University and the University of Kent, Canterbury, United Kingdom. He is now a visiting fellow at the School of Economics, University of New South Wales, Australia.

John

John Lodewijks

John completed a Bachelor of Economics from the University of Sydney, Master of Economics from the University of New England and a M.A and PhD in Economics from Duke University, USA. He spent 22 years as an academic economist at the University of New South Wales, Australia including the Head of Department position. Thereafter he was Head of the School of Economics and Finance at the University of Western Sydney for a further five years. He is now associated with the S P Jain School of Global Management as Vice President (Academic). He is also Adjunct Professor at the University of New South Wales.