Microeconomics : a modern treatment

This textbook deals with microeconomics in terms of general equilibrium theory from an axiomatic approach, and highlights the alternative models of microeconomic be haviour. It is intended for advanced undergraduate and postgraduate students taking courses in microeconomics.

There are five parts to the book. Part I is concerned with methodology and discusses the role of axioms in economic⚫ theorising. Part II is concerned with choice and consumer demand. The various approaches are discussed and com pared. Part III deals with the theory of production both in its linear forms and in its non-linear forms. Throughout Parts II and III there is a certain emphasis on those aspects of microeconomics which are particularly relevant for the discussion of general equilibrium theory in Part IV. The emphasis here is on the way in which consumers and producers interact. Part V turns to static stability and the neglected aspects of dynamics.

Throughout the book models are considered from the least restrictive to the most restrictive so that neoclassical econ omics, although seen as a coherent body of thought, is found to be built on extreme assumptions. Attention is paid to both traditional and modern ways of looking at microeconomics. Inevitably the modern approach is de pendent upon set theoretic concepts, and these have been carefully discussed to show how they can be used to discuss economic problems.

Among the many helpful features for the student reader are: a consistent notation which helps to bring out the unity of thought and clarify the alternative micro theories; qver 110 exercises enabling the student to develop his skills in the subject; and a generous provision of graphs and explanatory mathematics to aid understanding of the subject-matter.