This microeconomics text presents the traditional economic theories about utility and production, as well as the main alternative theories of consumer and company behaviour. It contains new theoretical functions created from specific optimisation procedures. Moreover, it details clearly the common function expression forms such as Cobb-Douglas and CES in which the theory is checked. Furthermore, it presents empirical tests and their ...

The book presents the basic models of the most important economic agents (households, firms, the banking system etc.). The influence of ethics on the decisions of persons is discussed within the context of mutual influences of one person on another. It is shown that this leads to a Markov chain which converges to a final situation which in many cases is independent of the initial conditions. Different types of decisions are considered: those in ...

Financial Markets Theory presents classical asset pricing theory, a theory composed of milestones such as portfolio selection, risk aversion, fundamental asset pricing theorem, portfolio frontier, CAPM, CCAPM, APT, the Modigliani-Miller Theorem, no arbitrage/risk neutral evaluation and information in financial markets. Starting from an analysis of the empirical tests of the above theories, the author provides a discussion of the most recent ...

Essays on Microeconomics and Industrial Organisation aim to serve as a source and work of reference and consultation for the field of Microeconomics in general and of Industrial Organisation in particular. Traditionally, Microeconomics is essentially taught as theory and hardly ever an estimation of a demand, production and cost function is offered . Over the last two decades, however, Microeconomics has greatly broadened its field of empirical ...

This book explains the world of economics in simple terms. Starting with the questions put forward by the first economists it proceeds to the core of today's economic theory and provides the reader with a straightforward introduction to what economists discovered about wealth, unemployment, growth, and inflation. The author is Professor of Economics at the University of Muenster in Germany, where the original version has been a great success. ...

This book explains the world of economics in simple terms. Starting with the questions put forward by the first economists it proceeds to the core of today`s economic theory and provides the reader with a straightforward introduction to what economists discovered about wealth, unemployment, growth, and inflation. The author is Professor of Economics at the University of Münster in Germany, where the original version has been a great success. ...

Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium is stated without a concrete process to achieve it, market is the unique institution considered. Evolutionary microeconomics is aimed at bypassing these ...

Alfred Marshall (1842-1924) is considered as one of the most influential economists of his time. His specialty was microeconomics - the study of individual markets and industries, as opposed to the study of the whole economy. His most important book was "Principles of Economics" (1890), which was for many years the Bible of British economics.
Marshall was the first principal of University College, Bristol (1877-81), and a professor at the ...