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  • © 2021

Microeconomic Theory for the Social Sciences

  • Deals with microeconomic theory at the level of intermediate and advanced undergraduates
  • Serves as an introduction for intellectual readers with social science and other backgrounds
  • Provides thorough explanations of assumptions and accounts of motivations and reservations behind microeconomic theory

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Table of contents (32 chapters)

  1. Front Matter

    Pages i-xxiii
  2. Introduction

    • Takashi Hayashi
    Pages 1-16
  3. Individual Preference and Choice

    1. Front Matter

      Pages 17-17
    2. Choice Objects and Choice Opportunities

      • Takashi Hayashi
      Pages 19-31
    3. Preference

      • Takashi Hayashi
      Pages 33-44
    4. So-Called Utility Function

      • Takashi Hayashi
      Pages 45-62
    5. Choice and Demand

      • Takashi Hayashi
      Pages 63-79
    6. Demand Analysis

      • Takashi Hayashi
      Pages 81-98
    7. Willingness to Pay and Consumer Surplus

      • Takashi Hayashi
      Pages 99-110
    8. Choice over Time

      • Takashi Hayashi
      Pages 111-125
    9. Choice Under Risk

      • Takashi Hayashi
      Pages 127-144
    10. Revealed Preference

      • Takashi Hayashi
      Pages 145-149
  4. Perfectly Competitive and Complete Markets with Complete Information

    1. Front Matter

      Pages 151-151
    2. Efficiency of Allocation

      • Takashi Hayashi
      Pages 171-178
    3. Production Technology

      • Takashi Hayashi
      Pages 179-187
    4. Cost Curve and Competitive Supply

      • Takashi Hayashi
      Pages 201-206
    5. General Equilibrium with Many Goods

      • Takashi Hayashi
      Pages 231-267

About this book

This textbook covers microeconomic theory at the level of intermediate and advanced undergraduates. It is also intended as an introduction for those with other intellectual and academic backgrounds who may not necessarily agree with “mainstream” economists but at least are interested knowing how they think and see things.

The book provides thorough explanations of definitions and assumptions that the theory is based upon. It provides comprehensive accounts of motivations and reservations behind the theory. As well, it precisely presents the logical process of how the assumptions lead to the conclusion, conveying the intuition and the key of the arguments.

An abundance of topics is included here: individual choice, general equilibrium, partial equilibrium, game theory, imperfect competition, transaction under incomplete information, market failures, welfare economics, social choice and mechanism design. The book is a valuable resource for any reader studying or simply interested in microeconomic theory.

Reviews

“A large textbook written by the known economic theorist, covering seemingly all possible sections of modern microeconomics, and it is intended for a wide scope of readers learning and specializing in economics and other social sciences.” (Vladimir Gorbunov, zbMATH 1483.91002, 2022)

Authors and Affiliations

  • Adam Smith Business School, University of Glasgow, Glasgow, UK

    Takashi Hayashi

About the author

Takashi Hayashi is Professor in economics at the University of Glasgow. His research fields are decision theory, social choice/implementation theory and general equilibrium theory.

He received his Ph.D. (2004) from The University of Rochester. He was Assistant Professor of economics at The University of Texas at Austin (2004-2012).

His works include General Equilibrium Foundation of Partial Equilibrium Analysis (Palgrave Macmillan, 2017) as well as academic papers such as “Smallness of a commodity and partial equilibrium analysis” (Journal of Economic Theory, 2013), “Implementation in partial equilibrium” (Journal of Economic Theory, 2017, co-authored with Michele Lombardi) and “Self-fulfilling regression and statistical discrimination” (International Journal of Economic Theory, 2019).

Bibliographic Information

Buy it now

Buying options

eBook USD 84.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access