Lectures on Microeconomics

The Big Questions Approach

Romans Pancs (Instituto Tecnológico Autónomo de México)

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English

MIT Press
20 August 2024

Microeconomics

Economic concepts and techniques presented through a series of ""big questions,"" models that show how to pose a questions rigorously and work toward an answer.

Economic concepts and techniques presented through a series of ""big questions,"" models that show how to pose a questions rigorously and work toward an answer.

This book helps readers master economic concepts and techniques by tackling fundamental economic and political questions through a series of models. It is organized around a sequence of ""big questions,"" among them- When do markets help translate individuals' uncoordinated, selfish actions into outcomes that are best for all? Do markets change people, and, if so, for worse or better? Translated into the language of modern economics, do Marx's ideas have merit? Why is there so much income inequality? Or is there too little? The arguments are in the theorem-proof format, distinguishing results derived in the context of fully specified models from educated speculation. Readers will learn how to pose a question rigorously and how to work toward an answer, and to appreciate that even (especially!) the broadest and most ambitious questions call for a model. The goal of the book is not to indoctrinate but to show readers how to reason toward their own conclusions.

The first chapter, on the Walrasian model of general equilibrium, serves as the prerequisite for the rest of the book. The remaining chapters cover less conventional topics, including the morality of markets; matching theory; Marxism, socialism, and the resilience of markets; a formalization of Kant's categorical imperative; unintended consequences of policy design; and theories of justice. The book can be used as a textbook for advanced undergraduate or graduate students or as a resource for researchers in disciplines that draw on normative economics.

By: Romans Pancs (Instituto Tecnológico Autónomo de México)
Imprint: MIT Press
Country of Publication: United States
Dimensions: Height: 229mm, Width: 203mm,
Weight: 369g
ISBN: 9780262552899
ISBN 10: 0262552892
Pages: 344
Publication Date: 20 August 2024
Recommended Age: From 18 to 99 years
Audience: College/higher education , Primary
Format: Paperback
Publisher's Status: Active

Romans Pancs is Assistant Professor of Economics at Instituto Tecnol gico Aut nomo de Mexico.