Essentials of Microeconomics by [Krister Ahlersten] pdf

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Essentials of Microeconomics by Krister Ahlersten.

In this textbook you can read about how to develop models that describes how an economy works. The book provides a comprehensive overview of all facets from Microeconomics.


1 Introduction	
1.1 Plan

2 Supply, Demand, and Market Equilibrium
2.1 Demand
2.1.1 The Demand Curve
2.1.2 When do We Move along the Demand Curve, and When Does It Shift?
2.2 Supply
2.2.1 The Supply Curve
2.3 Equilibrium
2.3.1 How to Find the Equilibrium Point Mathematically
2.4 Price and Quantity Regulations
2.4.1 Minimum Prices
2.4.2 Maximum Prices
2.4.3 Quantity Regulations

3 Consumer Theory
3.1 Baskets of Goods and the Budget Line
3.2 Preferences
3.3 Indifference Curves
3.4 Indifference Maps
3.5 The Marginal Rate of Substitution
3.6 Indifference Curves for Perfect Substitutes and Complementary Goods
3.7 Utility Maximization: Optimal Consumer Choice
3.8 More than Two Goods

4 Demand
4.1 Individual Demand
4.1.1 The Individual Demand Curve
4.1.2 The Engel Curve
4.2 Market Demand
4.3 Elasticity
4.3.1 Price Elasticity
4.3.2 Income Elasticity
4.3.3 Cross-Price Elasticity

5 Income and Substitution Effects
5.1 Normal Good
5.2 Inferior Good

6 Choice under Uncertainty
6.1 Expected Value
6.2 Expected Utility
6.3 Risk Preferences
6.4 Certainty Equivalence and the Risk Premium
6.5 Risk Reduction

7 Production
7.1 The Profit Function
7.2 The Production Function
7.2.1 Average and Marginal Product
7.2.2 The Law of Diminishing Marginal Returns
7.3 Production in the Short Run
7.3.1 The Product Curve in the Short Run
7.4 Production in the Long Run
7.4.1 The Marginal Rate of Technical Substitution
7.4.2 The Marginal Rate of Technical Substitution and the Marginal Products
7.4.3 Returns to Scale

8 Costs
8.1 Production Costs in the Short Run
8.2 Production Cost in the Long Run
8.3 The Relation between Long-Run and Short-Run Average Costs

9 Perfect Competition
9.1 Introduction
9.2 Conditions for Perfect Competition
9.3 Profit Maximizing Production in the Short Run
9.3.1 Strategy to Find the Optimal Short-Run Quantity
9.3.2 The Firms Short-Run Supply Curve
9.3.3 The Markets Short-Run Supply Curve
9.4 Short-Run Equilibrium
9.5 Long-Run Production
9.6 The Long-Run Supply Curve
9.7 Properties of the Equilibrium of a Perfectly Competitive Market

10 Market Interventions and Welfare Effects
10.1 Welfare Analysis

11 Monopoly
11.1 Barriers to Entry
11.2 Demand and Marginal Revenue
11.3 Profit Maximum
11.4 The Deadweight Loss of a Monopoly
11.5 Ways to Reduce Market Power

12 Price Discrimination
12.1 First Degree Price Discrimination
12.2 Second Degree Price Discrimination
12.3 Third Degree Price Discrimination

13 Game Theory
13.1 The Basics of Game Theory
13.2 The Prisoners Dilemma
13.3 Nash Equilibrium
13.3.1 Finding the Nash Equilibrium in a Game in Matrix Form
13.4 A Monopoly with No Barriers to Entry
13.4.1 Finding the Nash Equilibrium for a Game Tree
13.5 Backward Induction

14 Oligopoly
14.1 Kinked Demand Curve
14.1.1 How does the Price in the Kinked Demand Curve Arise?
14.2 Cournot Duopoly
14.3 Stackelberg Duopoly
14.4 Bertrand Duopoly

15 Monopolistic Competition
15.1 Conditions for Monopolistic Competition
15.2 Market Equilibrium
15.2.1 Short Run
15.2.2 Long Run

16 Labor
16.1 The Supply of Labor
16.2 The Marginal Revenue Product of Labor
16.3 The Firms Short-Run Demand for Labor
16.3.1 Perfect Competition in both the Input and Output Market
16.3.2 Monopoly in the Output Market
16.3.3 Monopsony in the Input Market
16.3.4 Bilateral Monopoly

17 Capital
17.1 Present Value
17.1.1 Bonds
17.1.2 Stocks
17.2 Correction for Risk
17.2.1 Diversifiable and Nondiversifiable Risk
17.3 CAPM: Pricing Assets
17.4 Pricing Business Projects

18 General Equilibrium
18.1 A Robinson Crusoe Economy
18.2 Efficiency
18.3 The Edgeworth Box
18.4 Efficient Consumption in an Exchange Economy
18.5 The Two Theorems of Welfare Economics
18.6 Efficient Production
18.7 The Transformation Curve
18.8 Pareto Optimal Welfare
18.8.1 A Definition of Pareto Optimal Welfare

19 Externalities
19.1 Definition
19.2 The Effect of a Negative Externality
19.3 Regulations of Markets with Externalities

20 Public Goods	
20.1 Definition of Public and Private Goods
20.2 The Aggregate Willingness to Pay
20.3 Free Riding

21 Asymmetric Information
21.1 Adverse selection
21.1.1 Insurance
21.1.2 Used Cars
21.1.3 Signaling and How to Reduce Problems with Adverse Selection
21.2 Moral hazard
21.2.1 How to Reduce Problems with Moral Hazard

22 Key Words
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