Solutions and detailed explanations for odd-numbered end-of-chapter exercises (107 problems) in Felix Muñoz-Garcia's Advanced Microeconomic Theory. Felix Muñoz-Garcia's Advanced Microeconomic Theory provides examples and exercises that help students understand how to apply theoretical models and offers tools for approaching similar problems on their own. This workbook provides solutions and step-by-step explanations for the odd-numbered exercises (107 problems in total). The answer key and detailed explanations emphasize the economic intuition behind the mathematical assumptions and results and, in combination with the textbook, enable students to improve both their theoretical and practical preparation.
An introduction to advanced topics in microeconomics that emphasizes the intuition behind assumptions and results, providing examples that show how to apply theory to practice. This textbook offers an introduction to advanced microeconomic theory that emphasizes the intuition behind mathematical assumptions, providing step-by-step examples that show how to apply theoretical models. It covers standard topics such as preference relations, demand theory and applications, producer theory, choice under uncertainty, partial and general equilibrium, monopoly, game theory and imperfect competition, externalities and public goods, and contract theory; but its intuitive and application-oriented approach provides students with a bridge to more technical topics. The book can be used by advanced undergraduates as well as Masters students in economics, finance, and public policy, and by PhD students in programs with an applied focus. The text connects each topic with recent findings in behavioral and experimental economics, and discusses these results in context, within the appropriate chapter. Step-by-step examples appear immediately after the main theoretical findings, and end-of chapter exercises help students understand how to approach similar exercises on their own. An appendix reviews basic mathematical concepts. A separate workbook, Practice Exercises for Advanced Microeconomic Theory, offers solutions to selected problems with detailed explanations. The textbook and workbook together help students improve both their theoretical and practical preparation in advanced microeconomics.
Detailed answer keys to all 140 self-assessment exercises and solutions to the 173 odd-numbered end-of-chapter exercises in Intermediate Microeconomic Theory. This book accompanies Ana Espinola-Arredondo and Felix Muñoz-Garcia's Intermediate Microeconomic Theory: Tools and Step-by-Step Examples, offering detailed answer keys to all 140 self-assessment exercises and solutions to the 173 odd-numbered end-of-chapter exercises. It provides readable step-by-step explanations and algebra support, enabling students to approach similar exercises on their own, emphasizing the economic intuition behind mathematical results.
This textbook presents worked-out exercises on game theory with detailed step-by-step explanations. While most textbooks on game theory focus on theoretical results, this book focuses on providing practical examples in which students can learn to systematically apply theoretical solution concepts to different fields of economics and business. The text initially presents games that are required in most courses at the undergraduate level and gradually advances to more challenging games appropriate for graduate level courses. The first six chapters cover complete-information games, separately analyzing simultaneous-move and sequential-move games, with applications in industrial economics, law, and regulation. Subsequent chapters dedicate special attention to incomplete information games, such as signaling games, cheap talk games, and equilibrium refinements, emphasizing common steps and including graphical illustrations to focus students’ attention on the most relevant payoff comparisons at each point of the analysis. In addition, exercises are ranked according to their difficulty, with a letter (A-C) next to the exercise number. This allows students to pace their studies and instructors to structure their classes accordingly. By providing detailed worked-out examples, this text gives students at various levels the tools they need to apply the tenets of game theory in many fields of business and economics. The second edition of the text has been revised to provide additional exercises at the introductory and intermediate level, expanding the scope of the book to be appropriate for upper undergraduate students looking to improve their understanding of the subject. The second edition also includes a new chapter devoted entirely to cheap talk games. Revised to appeal to a larger audience of instructors and students, this text is appropriate for introductory-to-intermediate courses in game theory at the upper undergraduate and graduate levels.
Solutions and detailed explanations for odd-numbered end-of-chapter exercises (107 problems) in Felix Muñoz-Garcia's Advanced Microeconomic Theory. Felix Muñoz-Garcia's Advanced Microeconomic Theory provides examples and exercises that help students understand how to apply theoretical models and offers tools for approaching similar problems on their own. This workbook provides solutions and step-by-step explanations for the odd-numbered exercises (107 problems in total). The answer key and detailed explanations emphasize the economic intuition behind the mathematical assumptions and results and, in combination with the textbook, enable students to improve both their theoretical and practical preparation.
An introduction to game theory, complete with step-by-step tools and detailed examples. This book offers condensed breakdowns of game-theory concepts. Specifically, this textbook provides “tools” or “recipes” to solve different classes of games. Game Theory presents the information as plainly and clearly as possible. Every chapter begins with the main definitions and concepts before diving into the applications to different settings across economics, business, and other social sciences. Chapters walk readers through algebraic steps and simplifications. This makes the text accessible for undergraduate and Masters-level students in economics and finance. Paired with the exercises published on the accompanying website, students will improve both their theoretical and practical understandings of game theory. Readers will walk away from this book understanding complete and incomplete information models as well as signaling games.
This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on practical examples, this textbook offers over 80 exercises that predict bidders’ equilibrium behaviour in different auction formats, along with the seller’s strategic incentives to organize one auction format over the other. The book emphasizes game-theoretic tools, so students can apply similar tools to other auction formats. Also included are several exercises based on published articles, with the model reduced to its main elements and the question divided into several easy-to-answer parts. Little mathematical background in algebra and calculus is assumed, and most algebraic steps and simplifications are provided, making the text ideal for upper undergraduate and graduate students. The book begins with a discussion of second-price auctions, which can be studied without using calculus, and works through progressively more complicated auction scenarios: first-price auctions, all-pay auctions, third-price auctions, the Revenue Equivalence principle, common-value auctions, multi-unit auctions, and procurement auctions. Exercises in each chapter are ranked according to their difficulty, with a letter (A-C) next to the exercise title, which allows students to pace their studies accordingly. The authors also offer a list of suggested exercises for each chapter, for instructors teaching at varying levels: undergraduate, Masters, Ph.D. Providing a practical, customizable approach to auction theory, this textbook is appropriate for students of economics, finance, and business administration. This book may also be used for related classes such as game theory, market design, economics of information, contract theory, or topics in microeconomics.
An introduction to advanced topics in microeconomics that emphasizes the intuition behind assumptions and results, providing examples that show how to apply theory to practice. This textbook offers an introduction to advanced microeconomic theory that emphasizes the intuition behind mathematical assumptions, providing step-by-step examples that show how to apply theoretical models. It covers standard topics such as preference relations, demand theory and applications, producer theory, choice under uncertainty, partial and general equilibrium, monopoly, game theory and imperfect competition, externalities and public goods, and contract theory; but its intuitive and application-oriented approach provides students with a bridge to more technical topics. The book can be used by advanced undergraduates as well as Masters students in economics, finance, and public policy, and by PhD students in programs with an applied focus. The text connects each topic with recent findings in behavioral and experimental economics, and discusses these results in context, within the appropriate chapter. Step-by-step examples appear immediately after the main theoretical findings, and end-of chapter exercises help students understand how to approach similar exercises on their own. An appendix reviews basic mathematical concepts. A separate workbook, Practice Exercises for Advanced Microeconomic Theory, offers solutions to selected problems with detailed explanations. The textbook and workbook together help students improve both their theoretical and practical preparation in advanced microeconomics.
A short, rigorous introduction to intermediate microeconomic theory that offers worked-out examples, tools for solving exercises, and algebra support. This book takes a concise, example-filled approach to intermediate microeconomic theory. It avoids lengthy conceptual description and focuses on worked-out examples and step-by-step solutions. Each chapter presents the basic theoretical elements, reducing them to their main ingredients, and offering several worked-out examples and applications as well as the intuition behind each mathematical assumption and result. The book provides step-by-step tools for solving standard exercises, offering students a common approach for solving similar problems. The book walks readers through each algebra step and calculation, so only a basic background in algebra and calculus is assumed. The book includes 140 self-assessment exercises, giving students an opportunity to apply concepts from previous worked-out examples. Topics covered include consumer theory; substitution and income effect; welfare gain or loss from a price change; and choice under uncertainty. Shifting to a firm theory, the book discusses production functions, cost minimization, perfectly competitive markets, and monopolies. Two chapters on game theory provide building blocks for subsequent chapters that treat imperfect markets; games of incomplete information and auctions; contract theory; and externalities, public goods, and common pool resources. The book is suitable for use in undergraduate intermediate microeconomics courses, rigorous introduction to microeconomics courses, and managerial economics at the masters level.
Detailed answer keys to all 140 self-assessment exercises and solutions to the 173 odd-numbered end-of-chapter exercises in Intermediate Microeconomic Theory. This book accompanies Ana Espinola-Arredondo and Felix Muñoz-Garcia's Intermediate Microeconomic Theory: Tools and Step-by-Step Examples, offering detailed answer keys to all 140 self-assessment exercises and solutions to the 173 odd-numbered end-of-chapter exercises. It provides readable step-by-step explanations and algebra support, enabling students to approach similar exercises on their own, emphasizing the economic intuition behind mathematical results.
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