ESCP Europe

"A comprehensive study of microeconomics, this text includes in-depth coverage of game theory, internal organization of the firm, and entry prevention. Real-world applications and in-class experiments are used throughout the book. The organization of the text is such that the market is introduced first before perfect competition which is then seen as the limit of process of entry."

1. Economics and institutions: a shift of emphasis --- 2. Consumers and their preferences --- 3. Demand and behaviour in markets --- 4. The problem of exchange --- 5. The discovery of production and its technology --- 6. Cost and choice --- 7. Game theory and the tools of strategic business analysis --- 8. The internal organization of the firm --- 9. The age of entrepreneurship: monopoly --- 10. Natural monopoly and the economics of regulation --- 11. The world of oligopoly: preliminaries to successful entry --- 12. Market entry and the emergence of perfect competition --- 13. Perfectly competitive markets --- 14. Uncertainty and the emergence of insurance --- 15. General equilibrium and the origins of free-market and interventionist ideologies --- 16. Moral hazard and adverse selection: informational market failures --- 17. Externalities: the free market-interventionist battle continues --- 18. Public goods, the consequences of strategic voting behaviour and the role of government --- 19. Input markets and the origins of class conflict --- Answers to selected exercises and problems --- Index..