Éditions JFD

Microeconomics - An introduction for business students (textbook and workbook)

Auteurs : Justin Leroux, Nicolas Sahuguet

ISBN : 978-2-923710-69-3

Copyright : 2014

Nombre de pages : 446

Pour toutes questions ou commentaires concernant le produit, veuillez nous contacter.

Prix : 79.95 $ CAD

Aussi disponible en livre numérique
Coozook  

Description

Textbook

This textbook is geared towards first-year students in business programs who seek a sound understanding of economic reasoning without being bogged down by theoretical aspects relevant only to those intending to pursue studies in economics.

The first part of the book explains how markets operate and how they are ultimately shaped by individual decisions of firms and consumers. It covers topics such as gains from trade and price formation in different market environments. Building upon that knowledge, the second part focuses on business decisions such as behaving strategically in the presence of competitors, making decisions under uncertainty, and dealing with asymmetric information.

Students who master the contents of this book will be at a significant advantage in understanding the “big picture” of business environments.


Workbook

This workbook is a companion to Microeconomics – An introduction for business students. It outlines the contents of the textbook in a format that is conducive to taking notes. Answers to exercises found in the textbook are also provided.


The set includes: textbook (286 pages) and workbook (160 pages)

Table des matières

Chapter 1: Gains from Trade

Introduction

Utility and valuation

One buyer, one seller: The sale of one item

One buyer, one seller: The sale of several identical items

Gains from trade

Efficiency

Discussions

Conclusion

Appendix: From utility to valuation

Chapter 1 exercises

Chapter 2: Demand

Introduction

Individual demand

Market demand

Elasticities

Conclusion

Chapter 2 exercises

Chapter 3: Firms, costs, and profit

Introduction

Firms

Costs

Profit maximization

Conclusion

Chapter 3 exercises

Chapter 4: Competitive Supply

Introduction

Perfect competition

Profit maximization in a competitive market

Shutdown decision and supply in the short run

Shutdown decision and supply in the long run

Conclusion

Chapter 4 exercises

Chapter 5: Market Equilibrium

Introduction

Market equilibrium

Shocking the equilibrium

Welfare considerations

Conclusion

Chapter 5 exercises

Chapter 6: Monopoly and Market Power

Introduction

Monopoly

Profit maximization: a trade-off between price margin and volume of sales

Elasticity and market power

Welfare considerations and the inefficiency of monopoly

Market power and monopolistic competition

Conclusion

Chapter 6 exercises

Chapter 7: Pricing strategies and price discrimination

Introduction

Price Discrimination

Explicit market segmentation – 3nd degree price discrimination

Implicit market segmentation – 2nd degree price discrimination

Conclusion

Chapter 7 exercises

Chapter 8: Uncertainty and the value of information

Introduction

Attitudes toward risk

Investing under uncertainty

The value of information

Conclusion

Chapter 8 exercises

Chapter 9: Game theory and strategic interactions

Introduction

Game theory: thinking strategically

The prisoner’s dilemma

Other simultaneous-move games

Sequential games

Conclusion

Chapter 9 exercises

Chapter 10: Oligopoly

Introduction

What is an oligopoly?

Optimal behavior in oligopolies

Collusion and cartels

Conclusion

Chapter 10 exercises

Chapter 11: Asymmetric Information

Introduction

Adverse selection

Markets with adverse selection: The Market for Lemons

Solutions to the problem of adverse selection

Conclusion

Chapter 11 exercises

Chapter 12: Moral Hazard and Contracts

Introduction

Moral hazard and the principal-agent relationship

How to design incentives and contracts

Incentives in practice

Conclusion

Chapter 12 exercises

Auteurs

Justin Leroux

Professeur à HEC Montréal

Nicolas Sahuguet

Professeur à HEC Montréal