Intermediate Microeconomics

Intermediate Microeconomics: A Tool-Building Approach is a clear and concise calculus-based exposition of current microeconomic theory that is essential for students pursuing degrees in economics or business.

This beautifully presented and accessible text covers all the essential topics typically required at the intermediate level, from consumer and producer theory to the market structures of perfect competition, monopoly, duopoly, and oligopoly. Other topics include general equilibrium, risk, game theory, externalities, asymmetric information, and public goods.

This second edition has been carefully updated throughout, and now covers constrained optimization using Lagrangian methods for utility maximization, cost-minimization, and Pareto efficient allocations. There are new end-of-chapter problems, color-coded by difficulty.

Through numerical examples as well as exercises, the book teaches microeconomic theory via a process of learning-by-doing. When there is a skill to be acquired, a list of steps outlining the procedure is provided, followed by an example to illustrate how this procedure is carried out. Once learned, students will be able to solve similar problems and will be well on their way to mastering the skills needed for future study.

Intermediate Microeconomics presents a large amount of material in a concise way, without sacrificing rigor or clarity of exposition. Through use of this text, students will acquire both the analytical toolkit and theoretical foundation necessary in order to take upper-level field courses in economics, such as industrial organization, international trade, and public finance.