description
Microeconomic Analysis has been a fixture of graduate programs in economics for fifteen years, providing unique authority, clarity, and breadth of coverage.The Third Edition continues to supply the building blocks of microeconomic analysis: a thorough treatment of optimization and equilibrium methods, coupled with numerous examples of their application. The Third Edition expands on the earlier editions in two ways. First, the coverage has been rewritten and rearranged. Second, chapters have been added on game theory, oligopoly, asset markets, and information economics. The new chapters fully update the text, highlighting significant developments of the last decade at a level that is accessible for first-year graduate students.Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance. In contrast, microeconomics is primarily focused on the actions of individual agents, such as firms and consumers, and how their behavior determines prices and quantities in specific markets.