Microeconomics

Preface 1 The nature and scope of microeconomics A Concepts and methods B The economic and social framework 2 The theory of the consumer A The preference ordering B The feasible set C The consumption decision D The comparative statics of consumer behaviour E Offer curves and net demand curves Appendix 1 : The lexicographic ordering Appendix 2 : Existence of a utility function 3 Consumer theory : duality A The expenditure function B The indirect utility function, Roy's identity and the Slutsky equation C Measuring the benefits of price changes D Composite commodities, separability and homotheticity 4 Further models of consumer behaviour A Revealed preference B The consumer as a labour supplier C Consumption and the allocation of time D Households 5 Production A Introduction B The production function B Variations in scale C Variations in input proportions D The multi-product case 6 Cost A Introduction B Long-run cost minimization C Short-run cost minimization D Cost minimization with several plants E Multi-product cost functions 7 Supply and firm objectives A Long-run profit maximization B Short-run profit maximization C The multi-product firm D The profit function and comparative statics E The entrepreneurial firm F Labour managed firms 8 The theory of a competitive market A Short-run equilibrium B Stability of equilibrium C Long-run equilibrium 9 Monopoly A Introduction B Price and output determination under monopoly C Price discrimination D Monopoly welfare loss 10 Input markets A Demand for inputs B Monopsony C Unions as monopoly input suppliers D Bilateral monopoly 11 Capital markets A Introduction B Optimal consumption over time C The optimal investment decision D Capital market equilibrium under certainty E Extensions to many periods 12 General equilibrium A Introduction B Walrasian equilibrium of a competitive economy C Existence of Walrasian equilibrium D Stability of Walrasian equilibrium E Edgeworth exchange theory F Exchange, equilibrium and the core 13

Preface1 The nature and scope of microeconomicsA Concepts and methodsB The economic and social framework2 The theory of the consumerA The preference orderingB The feasible setC The consumption decisionD The comparative statics of consumer behaviourE Offer curves and net demand curvesAppendix 1 : The lexicographic orderingAppendix 2 : Existence of a utility function 3 Consumer theory : dualityA The expenditure functionB The indirect utility function, Roy's identity and the Slutsky equationC Measuring the benefits of price changesD Composite commodities, separability and homotheticity 4 Further models of consumer behaviourA Revealed preferenceB The consumer as a labour supplierC Consumption and the allocation of timeD Households5 ProductionA IntroductionB The production functionB Variations in scaleC Variations in input proportionsD The multi-product case6 CostA IntroductionB Long-run cost minimizationC Short-run cost minimizationD Cost minimization with several plantsE Multi-product cost functions7 Supply and firm objectivesA Long-run profit maximizationB Short-run profit maximizationC The multi-product firmD The profit function and comparative staticsE The entrepreneurial firmF Labour managed firms8 The theory of a competitive marketA Short-run equilibriumB Stability of equilibriumC Long-run equilibrium9 MonopolyA IntroductionB Price and output determination under monopolyC Price discriminationD Monopoly welfare loss10 Input markets A Demand for inputsB MonopsonyC Unions as monopoly input suppliersD Bilateral monopoly11 Capital marketsA IntroductionB Optimal consumption over timeC The optimal investment decisionD Capital market equilibrium under certaintyE Extensions to many periods 12 General equilibrium A IntroductionB Walrasian equilibrium of a competitive economyC Existence of Walrasian equilibriumD Stability of Walrasian equilibriumE Edgeworth exchange theoryF Exchange, equilibrium and the core13 Welfare economics A IntroductionB Pareto efficient resource