Microeconomics

'This is an ideal microeconomics textbook for students who have a solid grounding in micro at the intermediate level. It contains the first and only integrated treatment of general equilibrium and input-output analysis." - Marcus Berliant, Washington University in St. Louis, US 'Microeconomics: Equilibrium and Efficiency is written on the premise that students should be able to take microeconomic theory to the data. Professor ten Raa has succeeded in writing a lucid text that shows the wide applicability of standard theory and its normative implications for a more efficient organization of real world economies.' - Fred Schroyen, Norwegian School of Economics, Bergen, Norway 'This innovative text marries advanced neo-classical theories of general equilibrium with applied approaches to measurement of economic activity. It teaches students a valuable and solid foundation for applying economic insights to understand trade and economic policy in our global economy.' - Robert P. Gilles, Queen's University Management School, Belfast, UK 'Ten Raa's book markedly stands out among the usual micro textbooks. Coherent, well written, rigorous and sharp, with a clear focus, this book will give students an excellent sense for the nature and performance of the market economy.' - Joop Hartog, University of Amsterdam, the Netherlands

Thijs ten Raa has been affiliated with NYU and Erasmus University and is now Associate Professor of Economics at Tilburg University, The Netherlands. He has published eight books, including the acclaimed The Economics of Benchmarking (2009), and numerous articles. In 2006 he was awarded the Wassily Leontief Centennial Medal.

PART I: ECONOMIC PRINCIPLES Economic Building Blocks and the Importance of Elasticities Scarcities and how they are Priced PART II: THE DEMAND SIDE OF THE ECONOMY Utility and Expenditures Demand: Income and Substitution Effects Measuring Consumer Well-being PART III: THE SUPPLY SIDE OF THE ECONOMY Production Analysis: Inputs, Outputs, Coefficients, and Productivity Production Functions Supply and Market Power PART IV: BUILDING THE MODEL OF THE ECONOMY Equilibrium Efficiency Theory PART V: PUTTING THE MODEL TO USE Measuring Economic Performance Market Forms and Competition Policy Public Economics PART VI: MARKET IMPERFECTIONS Game Theory and the New Industrial Organization Analyzing Uncertainty and Missing Information Search, Transaction, and Switching Costs.