The 8th edition of Microeconomics provides a treatment of microeconomic theory that stresses the relevance and application to managerial and public policy decision making. This edition includes a number of new topics, updated examples, and improved exposition of existing materials.
This edition includes a number of new topics, updated examples, and improved exposition of existing materials.
This text incorporates over 100 real-world examples into the flow of the text, rather than as segregated boxed features.
Key terms are defined in margins throughout the book and in the glossary.
Chapter 4 includes new material on speculative demand and network externalities to include social networks.
Chapter 5 contains a new section on bubbles and informational cascades
Chapter 18 on Externalities and Public Goods covers the treatment of environmental economics, a very hot topic now in this course.
New material on speculative demand and an expanded discussion of network externalities to include social networks can be found in Chapter 4.
A series of examples relating to the economics of health care are introduced in Chapters 3, 6, 16, and 17, including the demand for and production of health care.
A new series of examples on taxicab markets, found in in Chapters 8, 9, and 15, illustrate the effects of government policies that restrict output.
Added examples on energy demand and energy efficiency can be found in Chapters 4 and 7, and "contagion" in global financial markets is offered in Chapter 16.
About the Author
Robert S. Pindyck is the Bank of Tokyo-Mitsubishi Ltd. Professor of Economics and Finance in the Sloan School of Management at M.I.T. Daniel L. Rubinfeld is the Robert L. Bridges Professor of Law and Professor of Economics Emeritus at the University of California, Berkeley, and Professor of Law at NYU. Both received their PhDs from M.I.T., Pindyck in 1971 and Rubinfeld in 1972.
Professor Pindyck's research and writing have covered a variety of topics in microeconomics, including the effects of uncertainty on firm behavior and market structure; the behavior of natural resource, commodity, and financial markets; environmental economics; and criteria for investment decisions. Professor Rubinfeld, who served as chief economist at the Department of Justice in 1997 and 1998, is the author of a variety of articles relating to antitrust, competition policy, law and economics, law and statistics and public economics.