Your no-nonsense guide to microeconomics The study of microeconomics isn't for the faint of heart. Fortunately, Microeconomics For Dummies is here to help make this tough topic accessible to the masses. If you're a business or finance major looking to supplement your college-level microeconomics coursework-or a professional who wants to expand your general economics knowledge into the microeconomics area-this friendly and authoritative guide will take your comprehension of the subject from micro to macro in no time

Lynne Pepall, PhD, is a professor of economics at Tufts University. She has taught microeconomics at both graduate and undergraduate levels since 1987. Peter Antonioni is a senior teaching fellow at the Department of Management Science and Innovation, University College, London, and coauthor of Economics For Dummies, 2nd UK Edition. Manzur Rashid, PhD, is a lecturer at New College of the Humanities, where he covers second-year micro- and macroeconomics.

Auteur
Lynne Pepall, PhD, is a professor of economics at Tufts University. She has taught microeconomics at both graduate and undergraduate levels since 1987. Peter Antonioni is a senior teaching fellow at the Department of Management Science and Innovation, University College, London, and coauthor of Economics For Dummies, 2nd UK Edition. Manzur Rashid, PhD, is a lecturer at New College of the Humanities, where he covers second-year micro- and macroeconomics.

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Learn to:

Analyze how markets work and how they fail
Achieve efficiency in a market
Understand strategic interaction in the marketplace The fast and easy way to make microeconomics your minion The study of microeconomics isn't for the faint of heart. Luckily, this friendly guide is here to make it manageable, whether you're studying the subject for class or putting it to real-world use. Cutting through confusing jargon and complemented with lots of real-life examples, it helps you discover how individuals and businesses use microeconomics to analyze trends from the bottom up.
Small units are a big deal find out how people and firms use microeconomics in order to make smart business decisions, how those decisions become markets, and what causes markets to fail
Consider the consumer discover factors that affect consumer choices, how we deal with constraints, and how decisions affect the greater economy
Inside a firm's decision-making make sense of costs and cost curves, profit maximization, supply and demand, equilibrium analysis, and the effect of competition
The bigger picture examine the fundamental theorems of welfare economics, what a monopoly creates, and what happens when the market doesn't make what we want
Strategize it discover how game theory, auction theory, and the Nash Equilibrium come into play in the realm of microeconomics Open the book and find:
The principal areas of microeconomics
Key roles of decision-making, competition, and cooperation
When a firm should shut down and exit and when it should plow full-steam ahead with confidence
How economists model a representative consumer
Why some markets don't work well and others work nearly perfectly
Ten great microeconomists worth knowing

Résumé
Your no-nonsense guide to microeconomics The study of microeconomics isn't for the faint of heart. Fortunately, Microeconomics For Dummies is here to help make this tough topic accessible to the masses. If you're a business or finance major looking to supplement your college-level microeconomics courseworkor a professional who wants to expand your general economics knowledge into the microeconomics areathis friendly and authoritative guide will take your comprehension of the subject from micro to macro in no time! Cutting through confusing jargon and complemented with tons of step-by-step instructions and explanations, it helps you discover how real individuals and businesses use microeconomics to analyze trends from the bottom up in order to make smart decisions. Snagging a job as an economist is fiercely competitiveand highly lucrative. Having microeconomics under your belt as you work toward completing your degree will put you head and shoulders above the competition and set you on the course for career advancement once you land a job. So what are you waiting for?

Analyze small-scale market mechanisms
Determine the elasticity of products within the market systems
Decide upon an efficient way to allocate goods and services
Score higher in your microeconomics class Everything you need to make microeconomics your minion is a page away!

Contenu
Introduction 1

Part I: Getting Started with Microeconomics 5

Chapter 1: Discovering Why Microeconomics Is a Big Deal 7

Chapter 2: Considering Consumer Choice: Why Economists Find You Fascinating 17

Chapter 3: Looking at the Behavior of Firms: What They Are and What They Do 31

Part II: Doing the Best You Can: Consumer Theory 43

Chapter 4: Living a Life without Limits 45

Chapter 5: Considering the Art of the Possible: The Budget Constraint 55

Chapter 6: Achieving the Optimum in Spite of Constraints 69

Part III: Uncovering the Alchemy of Firms' Inputs and Outputs 87

Chapter 7: Working with Different Costs and Cost Curves 89

Chapter 8: Squeezing Out Every Last Drop of Profit 107