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A book that provides a treatment of microeconomic theory that stresses the relevance and application to managerial and public policy decision making.
This edition includes a number of new topics, updated examples, and improved exposition of existing materials.
For a complete multimedia book tour of Pindyck, Microeconomics, 8e, Click Here
Part I. Introduction: Markets and Prices
Chapter 1. Preliminaries
Chapter 2. The Basics of Supply and Demand
Part II. Producers, Consumers, and Competitive Markets
Chapter 3. Consumer Behavior
Chapter 4. Individual and Market Demand
Chapter 5. Uncertainty and Consumer Behavior
Chapter 6. Production
Chapter 7. The Cost of Production
Chapter 8. Profit Maximization and Competitive Supply
Chapter 9. The Analysis of Competitive Markets
Part III. Market Structure and Competitive Strategy
Chapter 10. Market Power: Monopoly and Monopsony
Chapter 11. Pricing with Market Power
Chapter 12. Monopolistic Competition and Oligopoly
Chapter 13. Game Theory and Competitive Strategy
Chapter 14. Markets for Factor Inputs
Chapter 15. Investment, Time, and Capital Markets
Part IV. Information, Market Failure, and the Role of Government
Chapter 16. General Equilibrium and Economic Efficiency
Chapter 17. Markets with Asymmetric Information
Chapter 18. Externalities and Public Goods
NEW! Offer the latest information:
New material on speculative demand and an expanded discussion of network externalities to include social networks can be found in Chapter 4.
Chapter 5 contains a new section on bubbles and informational cascades, along with examples showing applications to housing markets and the financial crisis. This chapter also contains expanded and updated material on behavioral economics.
New and updated examples:
Revised and improved treatment:
For undergraduate and graduate economics majors who are enrolled in an Intermediate Microeconomics course.
An Applied Approach To Micro
This text incorporates over 100 real-world examples into the flow of the text, rather than as segregated boxed features. These examples highlight the application of microeconomics to real managerial and public policy decisions. Examples include:
Key terms are defined in margins throughout the book and in the glossary. Concept links are also in margins to promote awareness of an idea previously introduced in the text.
OTHER TOPICS OF DISTINCTION
Chapter 4 includes new material on speculative demand and network externalities to include social networks.
· Alternative forms of organization and the definition of cooperative.
· Return to working assumption of profit maximization.
· Total cost and relation with variable cost example.
The Appendix to Chapter 11 has been expanded to cover the vertically integrated firm more broadly, including the problem of double marginalization and the advantages of vertical integration, along with the analysis of transfer pricing.
Chapter 18 on Externalities and Public Goods covers the treatment of environmental economics, a very hot topic now in this course. In addition, the author has clarified externalities and added a new section on stock externalities including the kind that arise from greenhouse gases and global warming. An example of pollution control in China is also included.
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