Microeconomic theory old and new

By:

"Gowdy, John M"

Material type: Text

TextPublication details: New Delhi; Orient blackswan; 2011Description: 189pISBN:

9788125042785

Subject(s):

Microeconomics

DDC classification:

338.5 GOW

Summary: Microeconomic Theory Old and New has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory-establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure. The second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the are presented, drawing on the work of Samuelson, Boadway, Chipman and model are Moore, Ng, and Suzumura, among others. The text then presents challenges to the basic assumptions s of f the Walrasian system, posed by findings in behavioral economics and evolutionary game theory. Understanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics.

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Holdings
Item type	Current library	Call number	Status	Date due	Barcode	Item holds
Books	Gandhi Smriti Library	338.5 GOW (Browse shelf(Opens below))	Available		149489

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Previous	338.5 ELS "Microeconomics of interactive economies: evolutionary, institutional and complexity perspectives"	338.5 EST 6th ed. "Microeconomics / by Saul Estrin, David Laidler and Michael Dietrich"	338.5 FUL Principles of micro economics	338.5 GOW Microeconomic theory old and new	338.5 GWA Microeconomics	338.5 JAI Introductory macroeconomics	338.5 JAI Introductory microeconomics	Next

Microeconomic Theory Old and New has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory-establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure.

The second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the are presented, drawing on the work of Samuelson, Boadway, Chipman and model are Moore, Ng, and Suzumura, among others. The text then presents challenges to the basic assumptions s of f the Walrasian system, posed by findings in behavioral economics and evolutionary game theory.

Understanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics.

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