Microeconomics

Microeconomic theory presents, in a systematic way, some of the basic analytical
techniques or “tools of analysis” of economics. As such, it has traditionally been one of
the most important courses in all economics and business curricula and is a requirement in
practically all colleges and universities.
Being highly abstract in nature, microeconomic theory is also one of the most difficult
courses and often becomes a stumbling block for many students. The purpose of this
book is to help overcome this difficulty by approaching microeconomic theory from a
learn-by-doing methodology. While the book is primarily intended as a supplement to all
current standard textbooks in microeconomic theory, the statements of theory and
principles are sufficiently complete to enable its use for independent study as well.
Each chapter begins with a clear statement of theory, principles, or background
information, fully illustrated with examples. This is followed by a set of multiple-choice
review questions with answers. Subsequently, numerous theoretical and numerical problems
are presented with their detailed, step-by-step solutions. These solved problems serve to
illustrate and amplify the theory, to bring into sharp focus those fine points without which
the student continually feels on unsafe ground, and to provide the applications and the
reinforcement so vital to effective learning.