This second edition of Microeconomics is filled with learning-by-doing problems that give students a chance to make economics their own. These fully worked-out problems provide a step-by-step road map to help students solve numerical problems. Each problem correlates to similar practice problems at the end of each chapter. In addition, the authors include many extensive real-world examples in the text. These examples are contemporary applications of the theory and are longer and more extensive to show the evolution of the example. Each chapter opens with an example to draw readers into the topic.
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The solution is in the problems
The ability to recognize patterns, trends, and significant data is second nature to economists – but you need to be trained to see these patterns through careful explanation, real-world examples, and a lot of problems. If you want to really understand microeconomics and to be able to interpret real-life markets, the solution lies in the process of working through problems and making discoveries. That’s why hands-on problem solving plays such an essential role in Besanko and Braeutigam’s Microeconomics, 2nd Edition.
Learning-by-Doing problems show you how it’s done.
Each chapter features a number of worked examples that provide a step-by-step roadmap for setting up and solving numerical problems. Each Learning-by-Doing problem correlates to similar practice problems at the end of the chapter.
End-of-chapter problems provide many opportunities to practice.
This Second Edition features many new problems (for a total of 20-25 problems per chapter). The problems range in level from easy to challenging and allow you to see the same topic from multiple angles. Fully worked solutions to a selection of these problems are included at the end of the text.
Extensive real-world applications make microeconomics relevant.
This edition features more than 100 applications throughout the book. These contemporary applications are all drawn from current events or recent microeconomics research, and make the abstract theory come alive.About the Author:
DAVID BESANKO is the Alvin J. Huss Distinguished Professor of Management and Strategy at the Kellogg School of Management at Northwestern University. He received his AB in Political Science from Ohio University in 1977, his MS in Managerial Economics and Decision Sciences from Northwestern University in 1982. Before joining the Kellogg faculty in 1991, Professor Besanko was a member of the faculty of the School of Business at Indiana University from 1982 to 1991. In addition, in 1985, he held a post-doctorate position on the Economics Staff at Bell Communications Research. Professor Besanko teaches courses in the fields of Management and Strategy, Competitive Strategy, and Managerial Economics. In 1995, the graduating class at Kellogg awarded Professor Besanko the L.G. Lavengood Professor of the Year, the highest teaching honor a faculty member at Kellogg can receive.
RONALD R. BRAEUTIGAM is the Harvey Kapnick Professor of Business Institutions in the Department of Economics at Northwestern University. He is Associate Dean for Undergraduate Studies in the Weinberg College of Arts and Sciences. He received a BS in Petroleum Engineering from the University of Tulsa in 1970 and then attended Stanford University and the California Institute of Technology, and he has also held an appointment as a Senior Research Fellow at the Wissenschaftszentrum Berlin (Science Center Berlin). He has also worked in both government and industry, beginning his career as a petroleum engineer with Standard Oil of Indiana (now BP), serving as research economist in The White House office of Telecommunications Policy, and as an economic consultant to Congress, many government agencies and private firms on matters of pricing, costing, managerial strategy, antitrust, and regulation.
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