The book has a strong theoretical basis but shows how microeconomics can be brought to bear on the real world. New Features for this edition include:
- an incorporation of the theory of stock externalities associated with greenhouse gases
- development of the section on insurance with particular reference to the new US healthcare program
- greater integration of game theoretic concepts throughout the book.
The book's style is accessible, but also rigorous. Mathematical examples are provided throughout the book, in particular for key concepts and the result is a balanced approach in terms of prose, graphics, and mathematics.
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