Microeconomics: An Open Introduction (1)

By: Richard Friberg

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Synopsis: Based on the author’s extensive experience of teaching microeconomics, this concise textbook is written specifically for introductory to intermediate courses in microeconomics. Instead of presenting a very large number of different cases and applications that can be overwhelming, the book focuses in on the key concepts in each topic, equipping readers with a solid understanding of these concepts so they are well set up to apply them to a wide range of other issues.It covers all standard topics but is especially focused on central ideas with respect to market power, externalities and asymmetric information, linking them to practice and empirical evidence. It also includes subjects that are partly novel for microeconomics textbooks: competitive selection when firms have different marginal costs, platform markets and auctions. Throughout, the book relies on calculus, encouraging the reader to solve problems like a professional economist, utilising the same set of tools over and over again to highlight the portability of the economic way of thinking.Supported by a wide-ranging selection of exercises with solutions, empirical examples, a mathematical appendix, links to step-by-step videos and PowerPoint slides, Microeconomics is suitable for studying microeconomics and microeconomic issues at the introductory to intermediate level.