Micro Markets Workbook

ROBERT A. SCHWARTZ is Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY. He is the developer, with Bruce Weber and Gregory Sipress, of the trading and market structure simulation, TraderEx (www.etraderex.net). Professor Schwartz has served as a consultant to various market centers including Nasdaq and the New York and London Stock Exchanges and, in 2009, he was named the first recipient of the annual World Federation of Exchanges (WFE) Award for Excellence. He has published over sixty refereed journal articles and seventeen books, including The Equity Trader Course and Equity Markets in Action, both published by Wiley. Professor Schwartz received his PhD in economics from Columbia University. MICHAEL G. CAREW is Assistant Professor in the faculty of Economics and Finance at Baruch College in New York City. Prior to his academic work, he was a senior corporate executive and chief financial officer in New York investment and commercial banking, including insurance, real estate, and government finance. Carew received his PhD in U.S. economic history and his MBA in economics from New York University.TATIANA MAKSIMENKO is a PhD candidate in finance at the Zicklin School of Business, Baruch College, CUNY, where her research is in the field of financial intermediation and corporate finance. Previously, she was at the economic research department of the Federal Reserve Bank of Cleveland. Maksimenko received her MBA in finance at Weatherhead School of Management, Case Western Reserve University, and holds a BS in economics and mathematics from Novosibirsk State University, Russia. She contributed to the book, Micro Markets: A Market Structure Approach to Microeconomic Analysis.

• Preface. Chapter 1 Introduction to Market-Driven Economics.Learning Objectives.Chapter Summary.Glossary.Current Events Discussions.Review Questions.Applications and Issues.Additional Readings.Answers to Review Questions.Chapter 2 The Consumer Choice Model.Learning Objectives.Chapter Summary.Glossary.Current Events Discussions.Review Questions.Applications and Issues.Additional Readings.Answers to Review Questions.Chapter 3 Demand Meets Supply.Learning Objectives.Chapter Summary.Glossary.Current Events Discussions.Review Questions.Applications and Issues.Additional Readings.Answers to Review Questions.Chapter 4 Microeconomic Analysis Goes to Market.Learning Objectives.Chapter Summary.Glossary.Current Events Discussions.Review Questions.Applications and Issues.Additional Readings.Answers to Review Questions.Chapter 5 Supply and the Costs of Production.Learning Objectives.Chapter Summary.Glossary.Current Events Discussions.Review Questions.Applications and Issues.Additional Readings.Answers to Review Questions.Chapter 6 Sources and Nature of Competition.Learning Objectives.Chapter Summary.Glossary.Current Events Discussions.Review Questions.Applications and Issues.Additional Readings.Answers to Review Questions.Chpater 7 Market Efficiency.Learning Objectives.Chapter Summary.Glossary.Current Events Discussions.Review Questions.Applications and Issues.Additional Readings.Answers to Review Questions.Chapter 8 Public Policy and the Interplay between Competition, Technology and Regulation.Learning Objectives.Chapter Summary.Glossary.Current Events Discussions.Review Questions.Applications and Issues.Additional Readings.Answers to Review Questions.About the Authors.