Theory of Microeconomics - 1st Edition - ISBN: 9780125750509, 9781483276335

Theory of Microeconomics

1st Edition

Authors: Trout Rader
eBook ISBN: 9781483276335
Imprint: Academic Press
Published Date: 1st January 1972
Page Count: 388
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Theory of Microeconomics provides information pertinent to the fundamental aspects of microeconomics. This book covers a variety of topics, including economic theory, resource allocation, production transformations, producer efficiency, utility functions, consumer efficiency, and trade efficiency.

Organized into four parts encompassing 11 chapters, this book begins with an overview of the definition of economics and provides several views of the significance of theory in economics. This text then examines the role of mathematics in economic theory and discusses the mathematical background for the theory of production. Other chapters consider the formal structure of economics, which is elaborated and compared with the theory of resource allocations and with classical mechanics. This book discusses as well the properties of production, the neoclassical model of production, and the problem of producer efficiency. The final chapter deals with capital goods and financial assets.

This book is a valuable resource for professional economists and graduate students in economics.

Table of Contents



List of Notational Conventions and Basic Symbols

Part I Introduction

Chapter 1. Methodology

1. Economics and Related Disciplines

2. The Purpose of Economic Theory

3. The Place of Mathematics in Economic Theory

Chapter 2. Mathematical Prerequisites

1. Theory of Sets

2. Relations

3. Construction of the Real Line

4. Differentiable Functions in Euclidean n-Space

5. Geometry of En

6. Open Sets and Topological Spaces

7. Measure and Integration

Chapter 3. Economic Background

1. Axiomatic Method

2. The Definitions of Economics and Its Relationship to Resource Allocation and Classical Mechanics

3. Some General Considerations on Orderings

4. Commodity Spaces

5. Statical Analysis under Parametric Behavior

6. A Caveat on Time in Economies

7. Games and Conflict

Part II Production

Chapter 4. Production

1. The Production Correspondence

2. Laws of Combination in Production Transformation

3. Laws of Returns in Production Transformations

4. Production Functions

5. Interindustry Production

6. Producer Efficiency

Part III Consumption

Chapter 5. Preferences

1. Relationship and Choice

2. Properties on Preferences

3. Optimization: Some Formalisms and Extensions

4. Construction of Partial Orderings from Orderings

Chapter 6. Utility

1. Regular Utility Functions

2. Continuous Utility Functions

3. Utility for Partial Orderings

4. Additive Utility

5. Preferences over Time

6. Concave Utility Functions

7. Differentiable Utility

8. Utility Equal to the Integral of Its Derivative

9. A Digression on Utility and Biology

Chapter 7. Probability

1. Qualitative Probabilities

2. Derivation of Probability Measures

3. Splitting and Nonatomicity

4. Conditional Probability: Bayes' Rule

Chapter 8. Consumer Demand

1. Introduction

2. Separable Preferences

3. Income and Substitution Effects

4. Explicit Solutions

5. Independent Preferences

6. Concavity Properties of Additive Utility

7. Consumer Surplus

Part IV Trade

Chapter 9. Exchange

1. Production and Preferences

2. Properties of Preferences on Trades

3. A Characterization of Economies: The Principle of Equivalence

4. Trade Efficiency

5. Consumer Efficiency

Chapter 10. Market Organization

1. The Degree of Monopoly Power

2. Two-Person Bargaining Games

3. The Division of Profits

4. Factor Demands of the Industry

5. Factor Proportions

6. Elasticites of Demand for Factors

7. Comparative Statics with Imperfect Competition

Chapter 11. Money and Assets

1. The Future and Futures Markets

2. The Demand for Money

3. Evaluation of Assets under Certainty

4. Uncertainty with Small Numbers of Independent Assets

5. Uncertainty with Large Numbers of Independent Assets


Author Index

Subject Index


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© Academic Press 1972
Academic Press
eBook ISBN:

About the Author

Trout Rader

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