Prices and quantities [Access till September 2022] : fundamentals of microeconomics
By: Vohra, Rakesh V.
Publisher: United Kingdom Cambridge university press 2020ISBN: 9781108773218.Subject(s): MicroeconomicsDDC classification: 339 | V869p Online resources: Click here to access online Summary: Rakesh V. Vohra offers a unique approach to studying and understanding intermediate microeconomics by reversing the conventional order of treatment, starting with topics that are mathematically simpler and progressing to the more complex. The book begins with monopoly, which requires single variable rather than multivariable calculus and allows students to focus clearly on the fundamental trade-off at the heart of economics: margin versus volume. Imperfect competition and the contrast with monopoly follows, introducing the notion of Nash equilibrium. Perfect competition is addressed toward the end of the book, and framed as a model of non-strategic behavior by firms and agents. The last chapter is devoted to externalities, with an emphasis on how one might design competitive markets to price externalities and linking the difficulties to the problem of efficient provision of public goods. Real-life examples engage the reader while encouraging them to think critically about the interplay between model and reality.| Item type | Current location | Collection | Call number | Status | Date due | Barcode | Item holds |
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E books
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PK Kelkar Library, IIT Kanpur | Electronic Resources | 339 V869p (Browse shelf) | Available | EBK10595_22 | ||
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E books
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PK Kelkar Library, IIT Kanpur | Electronic Resources | 339 V869p (Browse shelf) | Available | EBK10595 |
Rakesh V. Vohra offers a unique approach to studying and understanding intermediate microeconomics by reversing the conventional order of treatment, starting with topics that are mathematically simpler and progressing to the more complex. The book begins with monopoly, which requires single variable rather than multivariable calculus and allows students to focus clearly on the fundamental trade-off at the heart of economics: margin versus volume. Imperfect competition and the contrast with monopoly follows, introducing the notion of Nash equilibrium. Perfect competition is addressed toward the end of the book, and framed as a model of non-strategic behavior by firms and agents. The last chapter is devoted to externalities, with an emphasis on how one might design competitive markets to price externalities and linking the difficulties to the problem of efficient provision of public goods. Real-life examples engage the reader while encouraging them to think critically about the interplay between model and reality.
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