If you want to improve or revolutionize economics, you must first master the foundations. This book--and a lot of hard work--will help you get there.
Author: David M. Kreps
Publisher: Princeton University Press
ISBN: 9780691155838
Category: Business & Economics
Page: 563
View: 926
Provides a rigorous treatment of some of the basic tools of economic modeling and reasoning, along with an assessment of the strengths and weaknesses of these tools.STUDIES ON THE MICROECONOMIC FOUNDATIONS OF MACROECONOMICS
2 . 1 Introduction Microeconomics and macroeconomics have often been treated
as two separate branches of economics . Each , however , has its deficiencies ...
Author: Ho-mou Wu
Publisher:
ISBN: STANFORD:36105010286610
Category: Macroeconomics
Page: 276
View: 413
New York: Wiley. [79] Kreps, D. 1990. A Course in Microeconomic Theory.
Princeton, NJ: Princeton University Press. [80] ———. 2013. Microeconomic
Foundations I: Choice and Competitive Markets. Princeton, NJ: Princeton
University Press.
Author: Robert G. Chambers
Publisher: Oxford University Press, USA
ISBN: 9780190063016
Category: Business & Economics
Page: 336
View: 207
For all its elaborate theories and models, economics always reduces to comparisons. Should we build A rather than B? Will I be better off if I eat D rather than C? How much will it cost me to produce F instead of E? At root, the ultimate goal of economics is simple: assessing the alternatives and finding the best possible outcome. This basic mathematical concept underlies all introductions to the field of economics, yet as advanced students progress through the discipline, they often lose track of this foundational idea when presented with real-world complications and uncertainty. In Competitive Agents in Certain and Uncertain Markets, Robert G. Chambers develops an integrated analytic framework for treating consumer, producer, and market equilibrium analyses as special cases of a generic optimization problem. He builds on lessons learned by all beginning students of economics to show how basic concepts can still be applied even in complex and highly uncertain conditions. Drawing from optimization theory, Chambers demonstrates how the same unified mathematical framework applies to both stochastic and non-stochastic decision settings. The book borrows from both convex and variational analysis and gives special emphasis to differentiability, conjugacy theory, and Fenchel's Duality Theorem. Throughout, Chambers includes practical examples, problems, and exercises to make abstract material accessible. Bringing together essential theoretical tools for understanding decision-making under uncertainty, Competitive Agents in Certain and Uncertain Markets provides a unified framework for analyzing a broad range of microeconomic decisions. This book will be an invaluable resource for advanced graduate students and scholars of microeconomic theory.The microeconomic foundations upon which CGE analysis is based may not be
very realistic . • It is difficult to model increasing returns to scale and technical
progress in a CGE model . Increasing returns can result in a positive feedback
effect ...
Author:
Publisher:
ISBN: NWU:35556036541910
Category: Water conservation
Page:
View: 153
Microeconomic Foundations Modern macroeconomic models are micro-founded
and dynamic. They are derived from assumptions about microeconomic
primitives, specifically preferences and technology; explicitly model intertemporal
links ...
Author: Dirk Niepelt
Publisher: MIT Press
ISBN: 9780262043472
Category: Business & Economics
Page: 320
View: 205
A concise but rigorous and thorough introduction to modern macroeconomic theory. This book offers an introduction to modern macroeconomic theory. It is concise but rigorous and broad, covering all major areas in mainstream macroeconomics today and showing how macroeconomic models build on and relate to each other. The self-contained text begins with models of individual decision makers, proceeds to models of general equilibrium without and with friction, and, finally, presents positive and normative theories of economic policy. After a review of the microeconomic foundations of macroeconomics, the book analyzes the household optimization problem, the representative household model, and the overlapping generations model. It examines risk and the implications for household choices and macroeconomic outcomes; equilibrium asset returns, prices, and bubbles; labor supply, growth, and business cycles; and open economy issues. It introduces frictions and analyzes their consequences in the labor market, financial markets, and for investment; studies money as a unit of account, store of value, and medium of exchange; and analyzes price setting in general equilibrium. Turning to government and economic policy, the book covers taxation, debt, social security, and monetary policy; optimal fiscal and monetary policies; and sequential policy choice, with applications in capital income taxation, sovereign debt and default, politically motivated redistribution, and monetary policy biases. Macroeconomic Analysis can be used by first-year graduate students in economics and students in master's programs, and as a supplemental text for advanced courses.A thoroughly revised new edition of a leading textbook that equips MBA students with the powerful tools of economics This is a thoroughly revised and substantially streamlined new edition of a leading textbook that shows MBA students how ...
Author: David M. Kreps
Publisher: Princeton University Press
ISBN: 9780691185477
Category: Business & Economics
Page: 520
View: 676
A thoroughly revised new edition of a leading textbook that equips MBA students with the powerful tools of economics This is a thoroughly revised and substantially streamlined new edition of a leading textbook that shows MBA students how understanding economics can help them make smarter and better-informed real-world management decisions. David Kreps, one of the world’s most influential economists, has developed and refined Microeconomics for Managers over decades of teaching at Stanford’s Graduate School of Business. Stressing game theory and strategic thinking and driven by in-depth, integrated case studies, the book shows future managers how economics can provide practical answers to critical business problems. Focuses on case studies and real companies, such as Amazon, Microsoft, General Motors, United Airlines, and Xerox Covers essential topics for future managers—including price discrimination, Porter’s five forces, risk sharing and spreading, signaling and screening, credibility and reputation, and economics and organizational behavior Features an online supplement (available at micro4managers.stanford.edu) for students that provides solutions to the problems in the book, longer caselike exercises, review problems, a calculus review, and moreJERZY OSIATYŃSKI The Microeconomic Foundations of Kalecki ' s
Macroeconomics * Kalecki ' s main subject of ... His inquiry into this subject was
supported on four successive systems of microeconomic foundations : ( i ) a
model of free but ...
Author:
Publisher:
ISBN: IND:30000027934334
Category: Economics
Page:
View: 361
Microeconomic Foundations of Employment and Inflation Theory , ” W. W. Norton
, New York , 1970 . : Job Search , the Duration of Unemployment , and the
Phillips Curve , AER 60 : 847-62 , December , 1970 . Musgrave , R .: “ Fiscal
Systems ...
Author: William Henry Locke Anderson
Publisher: New York : McGraw-Hill International
ISBN: UOM:39015005637882
Category: Macroeconomics
Page: 213
View: 366
Microeconomic Foundations of Employment and Inflation Theory . New York : W .
W . Norton & Co . , 1970 . Mundell , Robert . " An Exposition of Some Subtleties in
the Keynesian System . ” Weltwirtschaftliches Archiv , Vol . XCIII ( December ...
Author: Richard James Sweeney
Publisher:
ISBN: UOM:49015002547413
Category: Macroeconomics
Page: 201
View: 956
2 Schools of Thought New classical economics : The original theoretical impetus
was the charge that Keynesian economics lacks microeconomic foundations - - i .
e . its assertions are not founded in basic economic theory . This school ...
Author:
Publisher:
ISBN: UOM:39015073603915
Category: Economics
Page: 200
View: 299
In Microeconomic Foundations of Inflation and Employment Theory , by E . S .
Phelps et al . New York : Norton , 1970 . McCall , J . J . “ The Economics of
Information and Optimal Stopping Rules . ” J . Bus . 38 ( July 1965 ) : 300 – 317 .
Author: Robert E. Kuenne
Publisher:
ISBN: STANFORD:36105060472425
Category: Microeconomics
Page: 444
View: 175
As I have explained in my memoir, it was written in response to criticism of an
alleged lack of micro-foundations for ... money functions, but rather a positive
attempt to provide microeconomic foundations for a particular kind of
macroeconomics.
Author: David E. W. Laidler
Publisher: Edward Elgar Publishing
ISBN: 1781959803
Category: Business & Economics
Page: 388
View: 158
Money and Macroeconomics is a significant collection of David Laidler's most important papers on the so-called 'monetarist counter-revolution'. This volume contains both published and unpublished examples of his influential contribution, detailing empirical work on the demand for money, the economics of inflation, the foundations of the 'buffer stock' approach to monetary theory, the monetarist critique of new classical economics and issues of economic policy.Microeconomic Foundations of Employment and Inflation Theory , New York :
Norton , 1970 . Morishima , M . " Prices , Interest and Profits in a Dynamic Leontief
System " , Econometrica , vol . 26 ( 1958 ) . Morishima , M . " A Reconsideration of
...
Author: Steven Mark Fazzari
Publisher:
ISBN: STANFORD:36105025678660
Category: Equilibrium (Economics)
Page: 520
View: 131
Muth J. : “ Rational Expectations and the Theory of Price Movements ” ,
Econometrica , July 1961 , pp . 315-35 . Phelps E.S. : " Introduction : The New
Microeconomics in Employment and Inflation Theory ' ' , in Microeconomic
foundations of ...
Author:
Publisher:
ISBN: UCAL:B3912502
Category: Egypt
Page: 433
View: 387
In the introduction to his textbook on macroeconomic knowledge and analysis,
Malinvaud (1998) has no misgivings concerning the microeconomic foundations
of macroeconomics. Having claimed that macroeconomic theory 'is content with ...
Author: Claude Gnos
Publisher: Edward Elgar Publishing
ISBN: 9781782540434
Category: Business & Economics
Page: 320
View: 651
This timely book uses cutting-edge research to analyse the fundamental causes of economic and financial crises, and illustrates the macroeconomic foundations required for future economic policymaking in order to avoid these crises. The expert contributors take a critical approach to monetary analysis, providing elements for a new paradigm of economic policymaking at both national and international levels. Major issues are explored, including: inflation, capital accumulation and involuntary unemployment, sovereign debts and interest payment, and the euro-area crisis. Opening new lines of research in the economic and financial crises, this book will prove a fascinating read for academics, students and researchers in the field of monetary economics. Monetary policymakers, central bank officials and international financial organisations will also find the book to be an invaluable resource.154 Questions for Kaleckians : a response II The uses of Kaleckian
microeconomics Kalecki ' s initial macroeconomic analysis had microeconomic
foundations based on perfect competition , but he soon introduced the concept of
the ' degree ...
Author: Malcolm C. Sawyer
Publisher:
ISBN: STANFORD:36105025146734
Category: Capitalism
Page:
View: 937
The Basic Model Framework and Its Microeconomic Foundation In contrast to the
monetarist ' s view of perfect ... on the macroeconomic approach in analysis and
less on its microeconomic foundations , we believe that trade analysis can be ...
Author: Jane-yu Ho Li
Publisher:
ISBN: WISC:89010853836
Category: Import substitution
Page: 410
View: 120
