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Forcourses in the principles of microeconomics. Anevidence-based approach to economics Throughout Microeconomics, 3rd Edition, authors DaronAcemoglu, David Laibson, and John List use real economic questions anddata to help students learn about the world around them. Taking a fresh approach,they use the themes of optimization, equilibrium, and empiricism to not onlyillustrate the power of simple economic ideas, but also to explain and predictwhats happening in todays society. Each chapter begins with an empiricalquestion that is relevant to the life of a student, and is lateranswered using data in the Evidence-Based Economics feature. As a result of thetexts practical emphasis, students learn to apply economic principles to guidethe decisions they make in their own daily lives

The book has all these features: Clear and concise but comprehensive explanation and analysis of economic terms and concepts; Examples to show how these concepts are applied to real-world situations; Definitions of key terms where they first appear and a list at the end of each chapter; Exercises to provide active engagement with economic analysis; Exam tips to assist preparation for the exams; Summaries that can be used as a revision tool; Exam-style q uestions to test knowledge and understanding; Answers to the exam-style questions plus links to further questions.

"For 1-semester principles of microeconomics courses.An intuitive and grounded approach to economicsMicroeconomics gets students to think like economists by incorporating the latest policy, data and discussions on important global issues.The 14th Edition emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. Hallmark features in the chapter openings and endings encourage students to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to, and deeper understanding of, today's events.Hallmark features of this titleConcepts connect to economics in the real worldEconomics in Action and Economics in the News boxes have students link models and chapter tools to the economic world around them.Interviews with Economists feature leading economists from diverse backgrounds who share what inspired them to pursue a career in economics.Ample opportunities for practiceWorked Problems, consisting of questions, solutions and key figures, help students to learn-by-doing and actively, rather than passively, review the chapter content.In-text Review Quizzes reinforce major concepts and test students' knowledge of the topics just discussed.New and updated features of this titleCoverage of the impact of a changing microeconomic marketNEW: Chapter 1, ""Getting Started"", has a new section on a diversity challenge: the under-representation of women and minorities in economics.NEW: 6 chapters examine COVID-19, including its effects on the production possibilities frontier (Ch. 2) and on the hand sanitizer market (Ch. 3), the elasticity of supply of face masks (Ch. 4), movie streaming in the pandemic (Ch. 8), the competitive market in fitness equipment and services (Ch. 12), and the increased inequality arising from Covid's labor market effects (Ch. 19).NEW: Other notable discussions and examples include a push for a

Essential Microeconomics is designed to help students deepen their understanding of the core theory of microeconomics. Unlike other texts, this book focuses on the most important ideas and does not attempt to be encyclopedic. Two-thirds of the textbook focuses on price theory. As well as taking a new look at standard equilibrium theory, there is extensive examination of equilibrium under uncertainty, the capital asset pricing model, and arbitrage pricing theory. Choice over time is given extensive coverage and includes a basic introduction to control theory. The final third of the book, on game theory, provides a comprehensive introduction to models with asymmetric information. Topics such as auctions, signaling and mechanism design are made accessible to students who have a basic rather than a deep understanding of mathematics. Examples and diagrams are used to illustrate issues as well as formal derivations.

Cover -- Brief contents -- Long contents -- List of figures -- List of tables -- List of essential maths -- About the author -- Acknowledgements -- Message to students -- Message to lecturers -- PART I MARKETS IN CONTEXT -- Chapter 1 Key principles -- 1.1 The value of microeconomics -- 1.2 Market environments -- Chapter 2 Perfect markets -- 2.1 The structure of a market -- 2.2 The perfect market: assumptions -- 2.3 Market clearing: WTA = WTP -- 2.4 Individual demand -- 2.5 Firm and market supply -- 2.6 Market clearing: when supply equals demand -- 2.7 Conclusions -- PART II RESOURCE ALLOCATION FOR PEOPLE -- Chapter 3 The budget set -- 3.1 Scarcity -- 3.2 Outline of the standard theory -- 3.3 The acquisition cost of a bundle -- 3.4 Endowments -- 3.5 Conclusions -- Chapter 4 Preferences -- 4.1 Ordering preferences -- 4.2 Essential properties of preferences -- 4.3 Well-behaved preferences -- 4.4 Alternative preference orderings -- 4.5 Conclusions -- Chapter 5 Utility functions -- 5.1 The concept of utility -- 5.2 Utility functions as preference orderings -- 5.3 An introduction to some important utility functions -- 5.4 Conclusions -- Chapter 6 The most-preferred, affordable bundle -- 6.1 Application of the equi-marginal principle -- 6.2 Marginal utility functions -- 6.3 The marginal rate of substitution function -- 6.4 The most-preferred, affordable consumption bundle -- 6.5 The least expensive, acceptable consumption bundle -- 6.6 Conclusions -- Chapter 7 Demand functions -- 7.1 Maximizing utility with any level of income -- 7.2 Maximizing utility as prices change -- 7.3 The price elasticity of demand -- 7.4 Conclusions -- Chapter 8 Price changes -- 8.1 The indirect or compensated demand for a good -- 8.2 Analysing the effects of a price change -- 8.3 The Hicks decomposition of the total effect -- 8.4 The cost of a price change to the consumer.

The generalization of microeconomics (maximization of probability of agent's survival) enabled model description of economic rationality even in the fields, where profit maximization is not suitable, like redistribution, non-profit sector, both positive and negative externalities, centrally planned economy etc. When profit criterion is adequate, the general criterion is identical with profit maximization

Basic decision and preference theory -- Household theory and theory of the firm -- Games and industrial organization -- Bargaining theory and Pareto optimality -- Bayesian games and mechanism design -- Perfect competition and competition policy -- Contracts and principal-agent theories.

REA's Essentials provide quick and easy access to critical information in a variety of different fields, ranging from the most basic to the most advanced. As its name implies, these concise, comprehensive study guides summarize the essentials of the field covered. Essentials are helpful when preparing for exams, doing homework and will remain a lasting reference source for students, teachers, and professionals. Microeconomics includes the fundamentals of supply and demand, consumer theory, production, perfect competition, the monopoly, and factor prices.

"Microeconomics studies the choices made by individuals under conditions of scarcity of resources and time and the interaction between different decision makers. Scarcity forces economic actors to choose one opportunity among many. Microeconomics with Spreadsheets starts with the mathematical preliminaries and covers consumer theory, producer theory, general equilibrium, game theory, market structure and economics of information. The reader will use numerical tools to analyse problems that cannot be analysed analytically. There is a natural synergy between rigorous proofs and numerical methods, since before using a numerical method one should also prove that a solution exists and analyse whether it is unique, and therefore be able to interpret properly the output of a program."--Publisher's website

This book presents readers with a technical tool-kit to understand the economics of airlines. It starts by covering the key language and glossary of the air travel business, which is necessary for graduates or first-time employees in aviation to understand the content of conversations, meetings, presentations and internal aviation communications. It then breaks down the complexity of the demand side of the air travel business.The book then analyses revenue over two distinct time horizons, specifically the short and medium runs, recognising the fact that airlines operate to a fixed number of seats over a short horizon because of the way that they schedule services in advance of departure. By combining revenue and costs, the book then analyses airline profit, with a focus on the short run and medium run decision variables that maximise airline profit.The remainder of the book analyses various important topics in air transport economics, including competition in airline markets, key rules, regulations and taxes that affect the return on capital in aviation, the way that airlines form relationships, and the economics of the market for oil and jet fuel, among others.