Advanced Microeconomics: (21st Century Advanced Economics Series Textbooks)

Author: Zhang Dingsheng
Publisher:
Publish Date: 2005-04-01
Features: This book is one of the "Advanced Economics Series for the 21st Century." It follows the framework of Marshall's Principles of Economics and employs an empirical analysis approach to examine consumer demand and producer supply. The core issue it focuses on is the allocation of resources under given consumer preferences and producer technology and resource endowments. Competitive equilibrium and Pareto optimality are two key concepts, with the Fundamental Theorem of Welfare Economics being the main result. The book primarily covers four aspects: consumer and producer decision-making, game theory, market failures, and general equilibrium. The entire book uses rigorous mathematical models to analyze economic phenomena, with each economic phenomenon being analyzed through a model. This book is considered advanced microeconomics mainly because it utilizes strict mathematical models to analyze economic phenomena. For each economic phenomenon, we establish a model for analysis. The application of mathematics in economics has a history of over a century in the West. With mathematics, no matter how lengthy the derivation, it does not lose reliability. When disagreements arise among economists, it is easy to identify the root of the, thereby significantly improving the efficiency of discussions and research. It is precisely the use of mathematics that has given economics a scientific form in the social sciences, making it closer to natural sciences and becoming the queen of the social sciences.