Microeconomics, 3rd Edition

By Hugh Gravelle & Ray Rees
Financial Times / Pearson Education
December 2004
ISBN: 0582404878
748 Pages, Illustrated, 7 " x 9 "
$110.00 Paper Original

This highly regarded text is one of the best-selling advanced microeconomics books to be published in Europe. Updated and revised, the new edition provides a comprehensive exposition of modern microeconomic theory, covering many of the issues currently being researched and debated.

As in previous editions, the third edition offers rigorous treatment of the topics discussed, with the major emphasis placed on giving the student an intuitive understanding of microeconomic models and theories. This book provides the student with a good understanding of the nature and purpose of microeconomic theories and the way the theories interrelate to form a coherent whole. Students are encouraged, with the use of the exercises which are integral to the book, to develop the ability to apply microeconomic theories in solving problems.

Key Features include: a new chapter on game theory, chapters on uncertainty and asymmetric information have been extended and restructured. Microeconomic concepts are dealt with rigorously, comprehensively and in depth. Numerous exercises throughout form an integral part of the book. The writing style is clear and concise. Discussions of literature and suggestions for further reading are in an extensive set of notes at the end of the book. Mathematics of optimization is included in a number of short appendices at the end of the book. Beginning at the intermediate level and ending at a level appropriate for the graduate student, this is a core text for upper level undergraduate and taught graduate microeconomics courses.

Hugh Gravelle is Professor at the National Primary Care Research and Development Center, University of York. Ray Rees is Professor of Economics, at Ludwig Maximillans University, Germany.

" Comprehensive coverage of Microeconomics
" Clear and careful mathematical treatment of economics theory
" Introduces the student to cutting edge research
" Takes a problem - solving approach encouraging the student to apply the theory through regular questioning material and activities
" Provides the students with a good understanding of the separate elements of the theory and how they interact

1. Introduction to microeconomics
2. Consumer theory
3. Duality
4. Further topics in consumer theory
5. Production
6. Cost
7. Supply
8. Competitive markets
9. Monopoly
10. Input markets
11. General equilibrium
12. Welfare economics 1
13. Welfare economics 2
14. Choice under uncertainty
15. Production under uncertainty
16. The theory of games
17. Oligopoly
18. Capital markets
19. Insurance markets
20. The theory of agency, contracts and the firm
21. General equilibrium under uncertainty and incomplete markets
Appendix: Mathematical prerequisites

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