Short description:

Your one?stop guide to understanding Microeconomics

Microeconomics For Dummies (with content specific to the UK reader) is designed to help you understand the economics of individuals.

Long description:

Your one?stop guide to understanding Microeconomics

Microeconomics For Dummies (with content specific to the UK reader) is designed to help you understand the economics of individuals. Using concise explanations and accessible content that tracks directly to an undergraduate course, this book provides a student?focused course supplement with an in?depth examination of each topic. This invaluable companion provides clear information and real?world examples that bring microeconomics to life and introduces you to all the key concepts. From supply and demand to market competition, you'll understand how the economy works on an individual level, and how it affects you every day. Before long, you'll be conversant in consumers, costs, and competition.

Microeconomics is all about the behaviour of individual people and individual firms. It sounds pretty straightforward, but it gets complicated early on. You may not be an economist, but if you're a business student at university, the odds are you need to come to grips with microeconomics. That's where Microeconomics For Dummies comes in, walking you through the fundamental concepts and giving you the understanding you need to master the material.

• Understand supply, demand, and equilibrium


• Examine the consumer decision making process


• Delve into elasticity and costs of production


• Learn why competition is healthy and monopolies are not

Even the brightest business students can find economics intimidating, but the material is essential to a solid grasp of how the business world works. The good news is that you've come to the right place.

Learn to:

• Succeed with the information you need for your economics course


• Get a handle on supply and demand


• Understand the consumer decision?making process and its effects within economics


• Weigh the effects of oligopolies and monopolies

Studying microeconomics?

Microeconomics examines the economic behaviour of individual people and individual firms. Sounds pretty straightforward, but it can get complicated in a hurry. Turn to this book and watch everything become understandable! Clear information and plenty of real?world examples help you understand everything from supply and demand to market competition.

• Small units are a big deal see how people and firms make decisions, how those decisions become markets, and what causes markets to fail


• About the consumer explore the factors that affect consumer choices, how we deal with constraints, and how our decisions affect the greater economy


• How a firm "thinks" learn about costs and cost curves, profit maximisation, supply and demand, equilibrium analysis, and the effect of competition


• The bigger picture examine the effects of imperfect competition, the fundamental theorems of welfare economics, what a monopoly creates, and what happens when the market doesn???t make what we want


• Getting strategic discover how game theory, auction theory, and Nash Equilibrium come into play

Open the book and find:

• What an oligopoly is and how it affects competition


• Why competition must sometimes be regulated


• How consumers make choices


• What equilibrium analysis tells us


• All about elasticity and production costs


• How market niches are chosen


• Why what you don't know can hurt you


• Ten great microeconomists