Workbook for Principles of Microeconomics

Description

This is the companion workbook for the textbook Principles of Microeconomics. Each chapter features a wide variety of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case study scenarios. The textbook pursues an integrative approach to modern microeconomics by critically reflecting on the main findings of economics from a philosophical standpoint and comparing them to approaches found in the social sciences. It adopts an institutional perspective to analyze the potential and limitations of different market types, and highlights implications for the design of the legal system and business practices throughout. In addition to traditional rational-choice models, important findings from behavioral economics and psychology are also presented. Front Matter ....Pages i-ix First Principles (Martin Kolmar, Magnus Hoffmann)....Pages 1-3 Gains From Trade (Martin Kolmar, Magnus Hoffmann)....Pages 5-24 Markets and Institutions -- Introduction (Martin Kolmar, Magnus Hoffmann)....Pages 25-26 Supply and Demand (Martin Kolmar, Magnus Hoffmann)....Pages 27-41 Normative Economics (Martin Kolmar, Magnus Hoffmann)....Pages 43-45 Externalities and the Limits of Markets (Martin Kolmar, Magnus Hoffmann)....Pages 47-74 Decisions and Consumer Behavior (Martin Kolmar, Magnus Hoffmann)....Pages 75-89 Costs (Martin Kolmar, Magnus Hoffmann)....Pages 91-104 A Second Look at Firm Behavior Under Perfect Competition (Martin Kolmar, Magnus Hoffmann)....Pages 105-132 Firm Behavior in Monopolistic Markets (Martin Kolmar, Magnus Hoffmann)....Pages 133-171 Principles of Game Theory (Martin Kolmar, Magnus Hoffmann)....Pages 173-195 Firm Behavior in Oligopolistic Markets (Martin Kolmar, Magnus Hoffmann)....Pages 197-219 Elasticities (Martin Kolmar, Magnus Hoffmann)....Pages 221-242