Table of Contents

Brief Table of Contents Part 1: Introduction: Markets and Prices

Preliminaries

The Basics of Supply and Demand

Part 2: Producers, Consumers, and Competitive Markets

Consumer Behavior

Individual and Market Demand

Uncertainty and Consumer Behavior

Production

The Cost of Production

Profit Maximization and Competitive Supply

The Analysis of Competitive Markets

Part 3: Market Structure and Competitive Strategy

Market Power: Monopoly and Monopsony

Pricing with Market Power

Monopolistic Competition and Oligopoly

Game Theory and Competitive Strategy

Markets for Factor Inputs

Investment, Time, and Capital Markets

Part 4: Information, Market Failure, and the Role of Government

General Equilibrium and Economic Efficiency

Markets with Asymmetric Information

Externalities and Public Goods

Behavioral Economics

Appendix: The Basics of Regression Answers to Selected Exercises

About the Author

Robert S. Pindyck is the Bank of Tokyo-Mitsubishi Ltd. Professor of Economics and Finance in the Sloan School of Management at M.I.T. Daniel L. Rubinfeld is the Robert L. Bridges Professor of Law and Professor of Economics Emeritus at the University of California, Berkeley, and Professor of Law at NYU. Both received their PhDs from M.I.T., Pindyck in 1971 and Rubinfeld in 1972. Professor Pindyck’s research and writing have covered a variety of topics in microeconomics, including the effects of uncertainty on firm behavior and market structure; the behavior of natural resource, commodity, and financial markets; environmental economics; and criteria for investment decisions. Professor Rubinfeld, who served as chief economist at the Department of Justice in 1997 and 1998, is the author of a variety of articles relating to antitrust, competition policy, law and economics, law and statistics, and public economics.

Pindyck and Rubinfeld are also co-authors of Econometric Models and Economic Forecasts, another best-selling textbook that makes a perfect gift (birthdays, weddings, bar mitzvahs, you name it) for the man or woman who has everything. These two authors are always looking for ways to earn some extra spending money, so they enrolled as human subjects in a double-blind test of a new hair restoration medication. Rubinfeld strongly suspects that he is being given the placebo.

This is probably more than you want to know about these authors, but for further information, see their websites: http://web.mit.edu/rpindyck/www and http://www.law.berkeley.edu/faculty/rubinfeldd.