Intermediate Microeconomics

This textbook provides a thorough and stimulating coverage of second and third year selected microeconomic topics culminating in an exposition of game theory including repeated games and theories of rational choice. Starting from a Paretian perspective, the argument explores the logic of choice and interdependence of consumers and firms, reviews the efficiency conditions of a general equilibrium framework and then derives the corresponding Marshallian functions and the familiar equilibrium conditions. The analysis of the problem of resource allocation proceeds through perfect competition monopoly and monopolistic competition, emphasizing the relationship between commodity and factor markets and the problem of oligopoly. The book has several distinctive features: an entire section devoted to game theory; an unobtrusive historical dimension; an explicit debt to the analysis of E.H. Chamberlin; a connecting argument emphasizing the implications of time and uncertainty for general equilibrium systems and game-theoretical outcomes. The treatment is both diagrammatic and mathematical.