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Modern Microeconomics

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Lingua:  English
Modern microeconomics book explains the advanced version of traditional microeconomic theories.
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This book provides the explanation of modern theories with simple examples. The consumer equilibrium, production function, game theory, information economics and social welfare are the major topics of this book. You will also find the systematic analysis of the consumer utility and behavior. It is most relevant topic to the decision making of consumer. The revealed preferences, rational choice, utility maximization, indirect utility function, Roy’s identity, Expenditure minimization function are the important topics of this book. Furthermore the book provides an explanation of modern theory of production function. There are different types of production functions and technology is used in each production function. Input output analysis, cost minimization, short run and long run costs, homogenous and heterogeneous production function, duality of costs and different types of technology in production function is strength of this book. The theory of Kalecki and kaldor of factor share in production function is also part of this book.

  • Preface
  • Acknowledgement
  1. Consumer preference and utility
    1. Introduction
    2. Preference relations
    3. Utility function
    4. Lexicographic ordering
    5. Demand function
    6. Revealed Preference Theory
    7. The Weak Axiom of Revealed Preference (WARP)
    8. Indirect utility function
    9. Expenditure function
    10. The expenditure minimization problem
    11. The Hicksian demand function
    12. The Von Neumann-Morganstern utility function
    13. Measures of Risk Aversion
    14. Questions
  2. The Production Function
    1. Inputs to output function
    2. Technology specification
    3. Input requirement set
    4. The transformation function
    5. Monotonic technologies
    6. Convex technology
    7. Regular technology
    8. Cobb-Douglas technology
    9. Leontief technology
    10. The technical rate of substitution
    11. Elasticity of substitution
    12. Variation in scale
    13. Revised technical rate of substitution
    14. Homogenous and heterogeneous production function
    15. The Envelope theorem for constrained optimization
    16. Duality of cost and the production function
    17. Michael Kalechi’s theory
    18. Neo-Keynesian model of distribution (Kaldor Model)
    19. Questions
  3. Game Theory
    1. Introduction
    2. The rules of the Game
    3. The prisoner’s dilemma: A dominant strategy
    4. Equilibrium strategies
    5. The Cournot model
    6. Solution to the Cournot model by the Stackelberg equilibrium
    7. The Bertrand paradox
    8. Intertemporal dimensions
    9. The folk theorem
    10. Conclusion
    11. Questions
  4. Information Economics
    1. Introduction
    2. The asymmetric information model
    3. The principal-agent model: The production game
    4. Optimal contracts: The Broadway game
    5. Moral hazard: Hidden information
    6. Pooling and separating equilibrium: the salesman game
    7. Efficiency wage hypothesis
    8. Adverse selection
    9. Lemon models
    10. Adverse selection under uncertainty: Insurance game III
    11. Signalling
    12. Screening
    13. Questions
  5. General equilibrium and welfare economics
    1. Introduction
    2. The Walrasian equilibrium of a competitive economy
    3. Stability proposition
    4. Edgeworth’s exchange theory
    5. Welfare economics
    6. Pareto efficiency conditions
    7. The Edgeworth box diagram
    8. Welfare functions and the Pareto criterion
    9. First theorem of welfare economics
    10. The second theorem of welfare economics: (STWE)
    11. Market failure and second best
    12. Instances of market failure
    13. The Coase theorem
    14. Questions
  6. Bibliography
Bonito libro, sin embargo debe cuidarse mucho el tratamiento algebraíco.
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