Readings in Microeconomics
Contents: Acknowledgements. Preface to the series. Preface to the book. 1. The economic organisation of a P.O.W. Camp/R.A. Radford. 2. An economic analysis of slavery/Yoram Barzel. 3. Increased rents from increased costs: a paradox of value theory/Richard R. Nelson. 4. Convex indifference curves and diminishing marginal utility/W.M. Gorman. 5. Myopia and inconsistency in dynamic utility maximization/R.H. Strotz. 6. An exact consumption-loan model of interest with or without the social contrivance of money/Paul A. Samuelson. 7. The market for "Lemons": quality uncertainty and the market mechanism/George A. Akerlof. 8. Job market signaling/Michael Spence. 9. Equilibrium in competitive insurance markets: an essay on the economics of imperfect information/Michael Rothschild and Joseph Stiglitz. 10. Overinsurance and public provision of insurance: the roles of moral hazard and adverse selection/Mark V. Pauly. 11. An introduction to game theory/Fahad Khalil. Index.
"This book of Readings is intended to provide students in Bangladesh an introduction, from original sources, to the concepts and tools of modern microeconomics. Textbooks generally focus upon what is clearly known and agreed upon; they do not impart the thrill of meeting new problems, nor do they focus upon the fact that there is often a considerable distance between the problem one initially wished to solve and the final problem that one could solve. Learning about these issues is a necessary part of one\'s education.
Starting from classic articles such as Radford\'s Economics of a P.O.W. Camp which elaborates in accessible style how markets arise and function even in the most unusual circumstances, the Reader goes on to articles which deal with the value theory, utility maximization, consumption-loan model, market mechanism and insurance markets, a foundational piece for recent economic theory, to articles on uncertainty and agency theory. Additionally the articles introduce to the students some of the best minds that have treated the subject. To make the Readings self-contained in coverage, Fahad Khalil has provided an Introduction to Game Theory.
The book should be of vital importance to students, especially those aspiring to go abroad for studies and practitioners of economics who are interested in analyzing human activity in the market." (jacket)
