Microeconomics

Thijs ten Raa has been affiliated with NYU and Erasmus University and is now Associate Professor of Economics at Tilburg University, The Netherlands. He has published eight books, including the acclaimed The Economics of Benchmarking (2009), and numerous articles. In 2006 he was awarded the Wassily Leontief Centennial Medal.

'This is an ideal microeconomics textbook for students who have a solid grounding in micro at the intermediate level. It contains the first and only integrated treatment of general equilibrium and input-output analysis." - Marcus Berliant, Washington University in St. Louis, US 'Microeconomics: Equilibrium and Efficiency is written on the premise that students should be able to take microeconomic theory to the data. Professor ten Raa has succeeded in writing a lucid text that shows the wide applicability of standard theory and its normative implications for a more efficient organization of real world economies.' - Fred Schroyen, Norwegian School of Economics, Bergen, Norway 'This innovative text marries advanced neo-classical theories of general equilibrium with applied approaches to measurement of economic activity. It teaches students a valuable and solid foundation for applying economic insights to understand trade and economic policy in our global economy.' - Robert P. Gilles, Queen's University Management School, Belfast, UK 'Ten Raa's book markedly stands out among the usual micro textbooks. Coherent, well written, rigorous and sharp, with a clear focus, this book will give students an excellent sense for the nature and performance of the market economy.' - Joop Hartog, University of Amsterdam, the Netherlands

• PART I: ECONOMIC PRINCIPLESEconomic Building Blocks and the Importance of ElasticitiesScarcities and how they are PricedPART II: THE DEMAND SIDE OF THE ECONOMYUtility and ExpendituresDemand: Income and Substitution EffectsMeasuring Consumer Well-beingPART III: THE SUPPLY SIDE OF THE ECONOMYProduction Analysis: Inputs, Outputs, Coefficients, and ProductivityProduction FunctionsSupply and Market PowerPART IV: BUILDING THE MODEL OF THE ECONOMYEquilibriumEfficiency TheoryPART V: PUTTING THE MODEL TO USEMeasuring Economic PerformanceMarket Forms and Competition PolicyPublic EconomicsPART VI: MARKET IMPERFECTIONSGame Theory and the New Industrial OrganizationAnalyzing Uncertainty and Missing InformationSearch, Transaction, and Switching Costs.