Intermediate Microeconomics: A Modern Approach 8th Edition by Hal R. Varian provides essentially the most current and complete coverage of intermediate microeconomics at an acceptable mathematical level. The book contains contemporary case studies and examples and related coverage of the current economic disaster-all in focused, lecture-length chapters.
This text emphasizes the conceptual foundations of microeconomics and provides concrete examples of their utility whereas retaining arithmetic to a minimum (chapter appendices cover calculus methods). Chapters have been stored quick to facilitate studying at one sitting, and discuss consumer theory adopted by producer idea, with more emphasis on consumer theory. This edition accommodates a new chapter on purposes of game concept, and expands coverage of economic models of knowledge networks, and of rights management for information goods.
Authors have added a number of new examples involving events, together with copyright extension, asset worth bubbles, counterparty risk, worth at risk, and carbon taxes. They offer examples drawn from Silicon Valley firms such as Apple, eBay, Google, Yahoo and others. I discuss topics such as the complementarity between the iPod and iTunes, the positive feedback associated with companies such as Facebook, and the ad auction models used by Google, Microsoft, and Yahoo. I believe that these are fresh and interesting examples of economics in action.
Authors also added an extended discussion of mechanism design issues, including two-sided matching markets and the Vickrey-Clarke-Groves mechanisms. This field, which was once primarily theoretical in nature, has now taken on considerable practical importance. It contains hundreds of fill-in-the-blank exercises that lead the students through the steps of actually applying the tools they have learned in the textbook.
In addition to the exercises, Workouts contains a collection of short multiple-choice quizzes based on the workbook problems in each chapter. Answers to the quizzes are also included in Workouts. These quizzes give a quick way for the student to review the material he or she has learned by working the problems in the workbook.
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