Author Description

Product Description Aimed at providing an understanding of the subject, this text presents a clear and rigorous exposition of key theoretical concepts using logic, mathematics, and illustrations. With examples and cases, it demonstrates the applicability of microeconomic tools in the Indian context. A detailed coverage of topics in standard microeconomic texts is accompanied by a focus on recent developments including Application of new tools: game theory concepts New theories: contractual theories of the firm, asymmetric information Examples of topical interest: trading permits in pollution, industrial securities in India Relevant real-life applications: saving and borrowing decisions, efficiency wages, insurance, exhaustible resources, trade union bargaining, etc. Key features and classroom aids in the second edition include New and current topics--opportunity cost of capital, effects of levying different types of taxes, taxation of a monopolist, free trade and tariffs, and learning by doing Tractable functional forms to illustrate the working of the models Updation and expansion of core sections in the text both in terms of theory and data Up to date examples, both applied and numerical, in contemporary Indian context New exercises This comprehensive textbook will appeal to teachers and students in economics. Some of the advanced topics discussed in the book can be used as supplementary material at the postgraduate level. Students in management institutes, the IITs, and other engineering institutes who have to take compulsory courses in microeconomics will find this book especially useful. About the Author Anindya Sen is Professor, Economics, Indian Institute of Management Calcutta, with experience in teaching microeconomics for more than twenty years.