Modern Microeconomics

This book provides a thorough exposition of the traditional and the ‘modern’ micro-theory. It concentrates on the models of behavior of the basic economic units, consumers, and producers. The main emphasis is on oligopoly, which is the typical market structure of the modern industrial world. In addition, this Second Edition includes a third part covering the three important topics of the theory of factor pricing, general equilibrium theory, and welfare theory. The new edition thus covers all the topics usually included in textbooks on price theory.
The book is written at an intermediate level and is designed for undergraduate micro-theory courses. In addition, postgraduate courses, in which micro theory is taught not at too specialized a level, could make use of the text. The author has adopted the verbal approach, with extensive use of diagrams to illustrate the verbal exposition. Mathematical proofs (where necessary) are presented in footnotes, or, when in the text, they are printed in small print so as not to interrupt the main theme.
A wealth of features makes this textbook unique in both coverage and approach.

Originally published in 1975, Modern Microeconomics 2e, Koutsoyiannis helps the reader examine the decisions and behavior of economic units, which influence the supply and demand for goods and services, which in turn, determine prices and vice-versa. The text uses traditional microeconomic theory as a starting point to this analysis before culminating in a study of oligopoly, which is a market form that is dominated by a limited number of sellers.

The book analyses market mechanisms that influence the allocation of resources amongst their many uses as well as the factors that influence prices of goods and services by examining the theory of factor pricing, general equilibrium theory, welfare theory, and price theory. Koutsoyiannis uses diagrams extensively to illustrate her explanation of microeconomic theory thereby providing for easy readability and comprehension.

Modern Microeconomics 2e, Koutsoyiannis is considered an important text among standard microeconomic textbooks for its treatment of oligopoly as the norm rather than the exception in the modern industrial world. It is written at an intermediate level and is designed for undergraduate economics courses. It is also of use to postgraduate students and individuals preparing for national competitive exams.

About Book

Title: Modern Microeconomics
Author: A. Koutsoyiannis
Publisher: Palgrave Macmillan
Genre: Business & Economics
ISBN: 9780333778210, 9780333778210
Pages: 599

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