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Applied Microeconomics - Consumption, Production and Markets (Paperback)
Loot Price: R393
Discovery Miles 3 930
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Applied Microeconomics - Consumption, Production and Markets (Paperback)
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Loot Price R393
Discovery Miles 3 930
Expected dispatch within 7 - 15 working days.
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This is a microeconomic theory book designed for upper-division
undergraduate students in economics and agricultural economics.
Basic introductory college courses in microeconomics and
differential calculus are the assumed prerequisites. The last,
tenth, chapter of the book reviews some mathematical principles
basic to the other chapters. All of the chapters contain many
numerical examples and graphs developed from the numerical
examples. The ambitious student could recreate any of the charts
and tables contained in the book using a computer and Excel
spreadsheets. There are many numerical examples of the key elements
of marginal analysis. In addition, many practical examples are
taken from the real world to illustrate key points. Most of the
examples used in the book come from the food and agricultural
industries, broadly defined. Examples in consumer choice and
utility focus on consumer decisions to purchase hamburgers and
French fries. Production examples involve choices farmers make in
order to apply fertilizer to crops. Market models are employed that
illustrate consumer choice between beef, pork and chicken at the
grocery meat counter, and so on. A few of the examples do not
employ agriculturally related goods, such as the examples dealing
with the fate of the Polaroid corporation and its instant cameras,
monopoly power of cable television providers and competition
between the big three automakers in the 1950s. Each chapter begins
with material that will be familiar to nearly any student who has
passed an introductory microeconomics course. However, as each
chapter progresses, the problems and the math required to complete
them get tougher. Critical points throughout the text are
highlighted in text boxes. The instructor need not use all of the
sections of each chapter for a course as each section of each
chapter is self-contained. Each chapter concludes with a basic
summary of key points and a comprehensive list of terms and
definitions. Students might choose to begin by reading the key
summary points and definitions at the end of each chapter. Each
chapter also contains a spreadsheet exercise for students to create
examples similar to the tables and charts in the text. The book is
designed for use in a one-semester course, covering the parts of
microeconomics that nearly every instructor believes should be
covered at the intermediate level, but also recognizing that most
instructors will want to devote a few weeks of the semester to
material specific to their own interests. David L. Debertin
General
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