Microeconomics (Second Edition)

Author: Deng Huizhong
Publisher:
Publish Date: 2003-09-01
Features: Since its publication in 1997, Microeconomics has received widespread praise from readers and institutions of higher learning. In 1998, it was translated by the Ministry of Education as an outstanding textbook for higher education. As an intermediate-level textbook on microeconomics, the second edition, published in 1997, builds on the first edition by adding substantial new content. Chapters that were not sufficiently elaborated in the first edition have been thoroughly revised and expanded; economic theories that were not deeply introduced have been further detailed; new economic data from China and important domestic and international case studies have been added to reflect the latest developments in China's and the world's market economies. Additionally, thought-provoking questions have been included, and introductions to relevant economists have been supplemented. The second edition of Microeconomics will become an invaluable modern economics textbook.
The content of Microeconomics can be broadly divided into six parts. Part I is Consumer Theory, covering Chapters 2, 3, and 4, which explore the fundamental laws of demand. Part II, consisting of Chapters 5, 6, and 7, is Production Theory, studying the basic laws of supply. Chapter 7, which discusses the nature of the firm, offers valuable insights for research on institutional reform and corporate governance. Part III, Chapter 8, examines the laws of exchange, with a special focus on the formation of prices. Part IV, covering Chapters 9 to 13, discusses various market structures and the behavior and efficiency of firms under different market structures. Chapter 13, on game theory, provides the theoretical foundation for analyzing the strategies and tactics of firms in imperfect competition. Part V introduces Information Economics and Incentives, reflecting the recent developments in modern economic theory over the past two to three decades. Chapter 14 presents theories of asymmetric information and economic incentives, while Chapters 15 and 16 apply information and incentive economics to the labor market. The final two chapters, 17 and 18, form Part VI, exploring how market mechanisms fail under external economic effects and the corresponding corrective measures. This section addresses the relationship between government and the market.
This Microeconomics is written in clear and accessible language with a scientifically rigorous structure, making it suitable for undergraduate and graduate students in economics and management programs at institutions of higher learning, as well as self-learners with equivalent educational backgrounds.