Description
Wiley India Microeconomics 6Th Edition 2022 by Tamali Chakraborty, David Besanko
This Indian Adaptation of Microeconomics sixth edition has revised text that offers new and enhanced content throughout. The coverage of the book also incorporates the dramatic changes that have occurred in this field in the recent years. New applications and case studies reflecting current data and important new developments in the field of economics relevant to the Indian scenario have been added. A new chapter on Demand Forecasting has been included. Learning- by-Doing Exercises in the chapter, and end of chapters exercises are enriched with new Questions and Problems to help learners relate better to the content.
About the Author
David Besanko, Northwestern University, Kellogg School of Management and Ronald Braeutigam, Northwestern University, Department of Economics.
TABLE OF CONTENTS
Part 1 Introduction to Microeconomics
Chapter 1 Analyzing Economic Problems
1.1 Why Study Micro-Economics?
1.2 Three Key Analytical Tools
1.3 Positive and Normative Analysis
Chapter 2 Demand and Supply Analysis
2.1 Demand, Supply, And Market Equilibrium
2.2 Price Elasticity of Demand
2.3 Other Elasticities
2.4 Elasticity in the Long Run Versus
2.5 Back-of-the-Envelope Calculations
Part 2 Consumer Theory
Chapter 3 Consumer Preferences and the Concept of Utility
3.1 Representations of Preferences
3.2 Utility Functions
3.3 Special Preferences
3.4 Behavioral Aspects of Choice
Chapter 4 Consumer Choice
4.1 The Budget Constraint
4.2 Optimal Choice
4.3 Consumer Choice with Composite Goods
4.4 Revealed Preference
4.5 Maximizing Utility Using Lagrange Multipliers
Chapter 5 The Theory of Demand
5.1 Optimal Choice and Demand
5.2 Change in the Price of a Good: Substitution Effect and Income Effect
5.3 Change in the Price of a Good: The Concept of Consumer Surplus
5.4 Market Demand
5.5 The Choice of Labor and Leisure
5.6 Consumer Price Indices
Part 3 Production and Cost Theory
Chapter 6 Inputs and Production Functions
6.1 Introduction to Inputs and Production Functions
6.2 Production Functions with a Single Input
6.3 Production Functions with More than One Input
6.4 Substitutability Among Inputs
6.5 Returns to Scale
6.6 Technological Progress
Chapter 7 Costs and Cost Minimization
7.1 Cost Concepts for Decision Making
7.2 The Cost-Minimization Problem
7.3 Comparative Statics Analysis of the Cost-Minimization Problem
7.4 Short-Run Cost Minimization
7.5 Minimizing Long-Run Costs Using Lagrange Multipliers
Chapter 8 Cost Curves
8.1 Long-Run Cost Curves
8.2 Short-Run Cost Curves
8.3 Special Topics in Cost
8.4 Estimating Cost Functions
Part 4 Perfect Competition
Chapter 9 Demand Forecasting
9.1 Forecasting Principles: Types, Methods, and Data
9.2 Qualitative Versus Quantitative Methods of Forecasting
9.3 Quantitative Methods of Forecasting
9.4 Forecasting Error, Accuracy, and Its Measurement
9.5 How to Select the Right Forecasting Model
9.6 Other Methods of Forecasting
9.7 Software
Chapter 10 Perfectly Competitive Markets
10.1 What is Perfect Competition?
10.2 Profit Maximization by a Price-Taking Firm
10.3 How the Market Price Is Determined
10.4 How the Market Price Is Determined
10.5 Economic Rent and Producer Surplus
Part 5 Market Power
Chapter 11 Competitive Markets: Applications
11.1 The Invisible Hand, Excise Taxes, and Subsidies
11.2 Price Ceilings and Floors
11.3 Production Quotas
11.4 Price Supports in the Agricultural Sector
11.5 Import Quotas and Tariffs
Chapter 12 Monopoly and Monopsony
12.1 Profit Maximization by a Monopolist
12.2 The Importance of Price Elasticity of Demand
12.3 Comparative Statics for Monopolists
12.4 Monopoly with Multiple Plants and Markets
12.5 The Welfare Economics of Monopoly
12.6 Why do Monopoly Markets Exist?
12.7 Monopsony
Part 6 I Mperfect Competition and Strategic Behavior
Chapter 13 Capturing Surplus
13.1 Capturing Surplus
13.2 First-Degree Price Discrimination: Making the Most from Each Consumer
13.3 Second-Degree Price Discrimination: Quantity Discounts
13.4 Third-Degree Price Discrimination: Different Prices for Different Market Segments
13.5 Tying (Tie-In Sales)
13.6 Advertising
Chapter 14 Market Structure and Competition
14.1 Describing and Measuring Market Structure
14.2 Oligopoly with Homogeneous Products
14.3 Dominant Firm Markets
14.4 Oligopoly with Horizontally Differentiated Products
14.5 Monopolistic Competition
Part 7 Special Topics
Chapter 15 Game Theory and Strategic Behavior
15.1 The Concept of Nash Equilibrium
15.2 The Repeated Prisoners’ Dilemma
15.3 Sequential-Move Games and Strategic Moves
Chapter 16 Risk and Information
16.1 Describing Risky Outcomes
16.2 Evaluating Risky Outcomes
16.3 Bearing and Eliminating Risk
16.4 Analyzing Risky Decisions
16.5 Auctions
Chapter 17 General Equilibrium Theory
17.1 General Equilibrium Analysis: Two Markets
17.2 General Equilibrium Analysis: Many Markets
17.3 General Equilibrium Analysis: Comparative Statics
17.4 The Efficiency of Competitive Markets
17.5 Gains from Free Trade
Chapter 18 Externalities and Public Goods
18.1 Introduction
18.2 Externalities
18.3 Public Goods
Mathematical Appendix
Solutions to Selected Problems
Glossary
Index