Efnisyfirlit

• Cover
• Introduction
  • About This Book
  • Foolish Assumptions
  • Icons Used in This book
  • Beyond the Book
  • Where to Go from Here
• Part I: Getting Started with Microeconomics
  • Chapter 1: Discovering Why Microeconomics Is a Big Deal
    • Peering into the Economics of Smaller Units
    • Making Decisions, Decisions and More Decisions!
    • Understanding the Problems of Competition and Co-operation
    • Investigating Why Markets Can Fail
  • Chapter 2: Considering Consumer Choice: Why Economists Find You Fascinating!
    • Studying Utility: Why People Choose What They Choose
    • Modelling Consumer Behaviour: Economic Agents
    • Pursuing Preferences and Investigating Indifferences
  • Chapter 3: Looking at Firm Behaviour: What They Are and What They Do
    • Delving into Firms and What They Do
    • Considering How Economists View Firms: The Black Box
    • From Firm to Company: Why People Form Limited Liability Companies
• Part II: Doing the Best You Can: Consumer Theory
  • Chapter 4: Living a Life without Limits
    • Eating Until You’re Sick! Assuming that More Is Always Better
    • Deciding How Low You’ll Go! Marginal Utility
  • Chapter 5: Considering the Art of the Possible: The Budget Constraint
    • Taking It to the Limit! Introducing the Budget Constraint
    • Getting the Biggest Bang for Your Buck
    • Putting the Utility Model to Work
  • Chapter 6: Achieving the Optimum in Spite of Constraints
    • Investigating the Equilibrium: Coping with Price and Income Changes
    • Dealing with Price Changes for One Good
    • Discerning a Consumer’s Revealed Preference
    • Decomposing Income and Substitution Effects
• Part III: Uncovering the Alchemy of Firms’ Inputs and Outputs
  • Chapter 7: Working with Different Costs and Cost Curves
    • Understanding Why Accountants and Economists View Costs Differently
    • Looking at a Firm’s Cost Structure
    • Relating Cost Structure to Profits
  • Chapter 8: Squeezing Out Every Last Drop of Profit
    • Asking Whether Firms Really Maximise Profits
    • Going Large! The Goal of Profit Maximisation
    • Slimming Down! Minimising Costs
  • Chapter 9: Supplying the Demanded Information on Supply and Demand
    • Producing Stuff to Sell: The Supply Curve
    • Giving the People What They Want: The Demand Curve
    • Identifying Where Supply and Demand Meet
  • Chapter 10: Dreaming of the Consumer’s Delight: Perfect Competition
    • Viewing the ‘Perfect’ in Perfect Competition
    • Putting the Conditions Together for the Perfectly Competitive Marketplace
    • Examining Efficiency and Perfect Competition
• Part IV: Delving into Markets, Market Failure and Welfare Economics
  • Chapter 11: Stepping into the Real World: Oligopoly and Imperfect Competition
    • Outlining the Features of an Oligopoly
    • Discussing Three Different Approaches to Oligopoly
    • Making Your Firm Distinctive from the Competition
  • Chapter 12: Appreciating the Fundamental Theorems of Welfare Economics
    • Getting the Welfare Back into Welfare Economics
    • Understanding Why Partial Equilibrium Isn’t Enough
    • Trading Your Way to Efficiency with Two Fundamental Theorems
  • Chapter 13: Controlling Markets with a Monopoly
    • Entering the World of the Monopoly
    • Counting the Costs of Monopolies
    • Tackling Monopolies in the Real World
    • ‘You Make Me Feel Like a Natural Monopoly’
  • Chapter 14: Examining Market Failure: Pollution and Parks
    • Coming to Grips with Externality: Too Much of a Bad Thing
    • Making the Market Produce What It Won’t: Public Goods
  • Chapter 15: Understanding the Dangers of Asymmetric Information
    • Seeing the Effects of Asymmetric Information
    • Changing Your Behaviour because of Asymmetric Information
• Part V: Thinking Strategically: Life Is Just a Game!
  • Chapter 16: Playing Games with Economic Theory
    • Setting the Game: Mechanism Design
    • Locking Horns with the Prisoners’ Dilemma
    • Looking at Collective Action: The Stag Hunt
    • Annoying People with the Ultimatum Game
    • Getting out of the Dilemma by Repeating a Game
  • Chapter 17: Keeping Things Stable: The Nash Equilibrium
    • Defining the Nash Equilibrium Informally
    • Looking for Balance: Where a Nash Equilibrium Must Apply
    • Applying the Nash Equilibrium in Economics
  • Chapter 18: Knowing How to Win at Auctions
    • Spotting Different Kinds of Auction
    • Bidding for Beginners
    • Suffering from the Winner’s Curse
  • Chapter 19: Deciphering the Signals: Threats and Benefits
    • Refining the Nash Equilibrium to Deal with Threats
    • Responding to Positive Economic Signals
• Part VI: The Part of Tens
  • Chapter 20: Meeting Ten Great Microeconomists
    • Alfred Marshall (1842–1924)
    • Joseph Alois Schumpeter (1883–1950)
    • Gary S Becker (1930–2014)
    • Ronald Coase (1910–2013)
    • Elinor Ostrom (1933–2012)
    • William Vickrey (1914–96)
    • George Akerlof (born 1940)
    • James Buchanan (1919–2013)
    • William Baumol (born 1922)
    • Arthur Cecil Pigou (1877–1959)
  • Chapter 21: Ten Top Tips to Take Away
    • Respecting Choice
    • Pricing a Good: Difficult but not Impossible
    • Competing on Price or Quality
    • Seeking Real Markets’ Unique Features
    • Beating the Market in the Long Run is Very Difficult
    • Knowing a Tradeoff Always Exists Somewhere
    • Arguing about the Next Best Thing
    • Using Markets Isn’t Always Costless
    • Believing that Competition is Good – Usually
    • Getting Co-operation and Organisation in the World
• Glossary
• About the Authors
• Cheat Sheet
• Advertisement Page
• Connect with Dummies
• End User License Agreement

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