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Microeconomics : theory and applications / Dominick Salvatore.

"Fully revised and expanded, this fifth edition of Microeconomics: Theory and Applications presents all the standard topics of traditional microeconomic theory while offering a modern approach that reflects the many exciting recent developments in the field. With its student-friendly writing st...

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Bibliographic Details
Main Author:	Salvatore, Dominick (Author)
Format:	Book
Language:	English
Published:	New York : Oxford University Press, 2009.
Edition:	Fifth edition.
Subjects:	Microeconomics

Table of Contents:

Part One. Introduction To Microeconomics
1. Introduction
1.1. Wants and Scarcity
1.2. Functions of an Economic System
1.3. Microeconomic Theory and the Price System
1.4. The Margin: The Key Unifying Concept in Microeconomics
1.5. Specialization, Exchange, and the International Framework of Microeconomics
1.6. Models, Methodology, and Value Judgments
2. Basic Demand and Supply Analysis
2.1. Market Analysis
2.2. Market Demand
2.3. Market Supply
2.4. When Is a Market in Equilibrium?
2.5. Adjustment to Changes in Demand and Supply: Comparative Static Analysis
2.6. Domestic Demand and Supply, Imports, and Prices
2.7. Interfering With Versus Working Through the Market
Part Two. Theory of Consumer Behavior and Demand
3. Consumer Preferences and Choice
3.1. Utility Analysis
3.2. Consumer's Tastes: Indifference Curves
3.3. International Convergence of Tastes
3.4. The Consumer's Income and Price Constraints: The Budget Line
3.5. Consumer's Choice
4. Consumer Behavior and Individual Demand
4.1. Changes in Income and the Engel Curve
4.2. Changes in Price and the Individual Demand Curve
4.3. Substitution Effect and Income Effect
4.4. Substitution Between Domestic and Foreign Goods
4.5. Some Applications of Indifference Curve Analysis
5. Market Demand and Elasticities
5.1. The Market Demand for a Commodity
5.2. Price Elasticity of Market Demand
5.3. Income Elasticity of Demand
5.4. Cross Elasticity of Demand
5.5. Price Elasticity and Income Elasticity of Imports and Exports
5.6. Marginal Revenue and Elasticity
6. Choice Under Uncertainty
6.1. Risk and Uncertainty in Demand Choices
6.2. Measuring Risk
6.3. Utility Theory and Risk Aversion
6.4. Insurance and Gambling
6.5. Risk Aversion and Indifference Curves
6.6. Reducing Risk and Uncertainty
6.7. Behavioral Economics
Part Three. Production, Costs, and Competitive Markets
7. Production Theory
7.1. Relating Outputs to Inputs
7.2. Production with One Variable Input
7.3. Production with Two Variable Inputs
7.4. The Shape of Isoquants
7.5. Constant, Increasing, and Decreasing Returns to Scale
7.6. Technological Progress and International Competitiveness
7.7. Open Innovation Model
8. Costs of Production
8.1. The Nature of Production Costs
8.2. Cost in the Short Run
8.3. Cost in the Long Run
8.4. Expansion Path and Long-Run Cost Curves
8.5. Shape of the Long-Run Average Cost Curve
8.6. Multiproduct Firms and Dynamic Changes in Costs
9. Price and Output Under Perfect Competition
9.1. Market Structure: Perfect Competition
9.2. Price Determination in the Market Period
9.3. Short-Run Equilibrium of the Firm
9.4. Short-Run Supply Curve and Equilibrium
9.5. Long-Run Equilibrium of the Firm and the Industry
9.6. Constant-, Increasing-, and Decreasing-Cost Industries
9.7. International Competition in the Domestic Economy
9.8. Analysis of Competitive Markets
Part Four. Imperfectly Competitive Markets
10. Price and Output Under Pure Monopoly
10.1. Pure Monopoly-The Opposite Extreme from Perfect Competition
10.2. Short-Run Equilibrium Price and Output
10.3. Long-Run Equilibrium and Price and Output
10.4. Profit Maximization by the Multiplant Monopolist
10.5. Price Discrimination-A Monopolist's Method of Increasing Profits
10.6. International Price Discrimination and Dumping
10.7. Two-Part Tariffs, Tying, and Bundling
10.8. Analysis of Monopoly Markets
11. Price and Output Under Monopolistic Competition and Oligopoly
11.1. Monopolistic Competition: Many Sellers of a Differentiated Product
11.2. Monopolistic Competition: Short-Run and Long-Run Analysis
11.3. Oligopoly: Interdependence Among the Few Producers in the Industry
11.4. The Cournot and the Kinked-Demand Curve Models
11.5. Collusion: Cartels and Price Leadership Models
11.6. Long-Run Adjustments and Efficiency Implications of Oligopoly
11.7. Other Oligopolistic Pricing Practices
11.8. The March of Global Oligopolists
12. Game Theory and Oligopolistic Behavior
12.1. Game Theory: Definition, Objectives, and Usefulness
12.2. Dominant Strategy and Nash Equilibrium
12.3. The Prisoners' Dilemma, Price and Nonprice Competition, and Cartel Cheating
12.4. Repeated Games and Tit-for-Tat Strategy
12.5. Strategic Moves
12.6. Strategic Moves and International Competitiveness
13. Market Structure, Efficiency, and Regulation
13.1. Market Structure and Efficiency
13.2. Measuring Monopoly Power
13.3. Social Costs and Dynamic Benefits of Monopoly Power
13.4. Controlling Monopoly Power: Antitrust Policy
13.5. Public-Utility Regulation
13.6. The Deregulation Movement
13.7. Regulating International Competition: Voluntary Export Restraints
13.8. Some Applications of Market Structure, Efficiency, and Regulation
Part Five. Pricing and Employment of Inputs
14. Input Price and Employment Under Perfect Competition
14.1. Profit Maximization and Optimal Input Employment
14.2. The Demand Curve of a Firm for an Input
14.3. The Market Demand Curve for an Input and Its Elasticity
14.4. The Supply Curve of an Input
14.5. Pricing and Employment of an Input
14.6. Input Price Equalization Among Industries, Regions, and Countries
14.7. Economic Rent: An Unnecessary Payment to Bring Forth the Supply of an Input
14.8. Analysis of Labor Markets Under Perfect Competition
15. Input Price and Employment Under Imperfect Competition
15.1. Profit Maximization and Optimal Input Employment
15.2. The Demand Curve of a Firm for an Input
15.3. The Market Demand Curve and Input Price and Employment
15.4. Monopsony: A Single Firm Hiring an Input
15.5. Monopsony Pricing and Employment of One Variable Input
15.6. Monopsony Pricing and Employment of Several Variable Inputs
15.7. International Migration and the Brain Drain
15.8. Analysis of Imperfect Input Markets
16. Financial Microeconomics: Interest, Investment, and the Cost of Capital
16.1. Lending-Borrowing Equilibrium
16.2. Saving-Investment Equilibrium
16.3. Investment Decisions
16.4. Determinants of the Market Rates of Interest
16.5. The Cost of Capital
16.6. Effects of Foreign Investments on the Receiving Nation
16.7. Some Applications of Financial Microeconomics
Part Six. General Equilibrium, Efficiency, and Public Goods
17. General Equilibrium and Welfare Economics
17.1. Partial Versus General Equilibrium Analysis
17.2. General Equilibrium of Exchange and Production
17.3. General Equilibrium of Production and Exchange and Pareto Optimality
17.4. Perfect Competition, Economic Efficiency, and Equity
17.5. General Equilibrium of Production and Exchange with International Trade
17.6. Welfare Economics and Utility-Possibilities Frontiers
17.7. Social Policy Criteria
17.8. Trade Protection and Economic Welfare
18. Externalities, Public Goods, and the Role of the Government
18.1. Externalities
18.2. Externalities and Property Rights
18.3. Public Goods
18.4. Benefit-Cost Analysis
18.5. The Theory of Public Choice
18.6. Strategic Trade Policy
18.7. Government Control and Regulation of Environmental Pollution
19. The Economics of Information
19.1. The Economics of Search
19.2. Asymmetric Information: The Market for Lemons and Adverse Selection
19.3. Market Signaling
19.4. The Problem of Moral Hazard
19.5. The Principal-Agent Problem
19.6. The Efficiency Wage Theory
Appendix A. Mathematical Appendix
-- Appendix B. Answers to Selected Problems
Appendix C. Glossary.

Microeconomics : theory and applications / Dominick Salvatore.

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