Publisher's Synopsis
This bestselling textbook stresses the inherent usefulness of economic theory, and is based on the belief that it can only be studied in connection with applications. It shows how economics can help us understand market behaviour, guide personal and financial decisions, and explain behaviour in areas such as politics, crime, and the family. It has been written for the standard intermediate microeconomics course.;Key features numerous brief applied examples - all backed by data which brings the theory to life; many fully worked numerical exercises throughout; presents an in-depth analysis of product quality; covers modern material, such as game theory, markets with imperfect information, and finance theory; includes a broader discussion of the coase theorem, including a diagrammatic exposition.
