{"product_id":"microeconomic-theory-old-and-new-a-students-guide-9788125042785","title":"Microeconomic Theory Old and New: A Student's Guide","description":"\u003cp\u003e • Author(s): John M. Gowdy\u003cbr\u003e • Publisher: Orient Blackswan Pvt Ltd\u003cbr\u003e • Publisher Imprint: Orient Blackswan Pvt Ltd\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cem\u003eMicroeconomic Theory Old and New\u003c\/em\u003e has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory—establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure\u003c\/p\u003e \u003cp\u003eThe second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the model are presented, drawing on the work of Samuelson, Boadway, Chipman and Moore, Ng, and Suzumura, among others. The text then presents challenges to the basic assumptions of the Walrasian system, posed by findings in behavioral economics and evolutionary game theory. \u003c\/p\u003e \u003cp\u003eUnderstanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics. \u003c\/p\u003e \u003cul\u003e \u003cli\u003eThe text focuses on the intellectual framework of standard economic theory\u003c\/li\u003e \u003cli\u003eMathematical techniques relevant to theory are discussed, thus supplementing theory\u003c\/li\u003e \u003cli\u003eDiscussions in the text are also supplemented by diagrams and equations, making them easier to grasp\u003c\/li\u003e \u003cli\u003eAfter reading this book, students will have an understanding of how the seemingly disparate pieces of conventional economics fit together as a system\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe text then presents challenges to the basic assumptions of the Walrasian system, posed by findings in behavioral economics and evolutionary game theory. \u003c\/p\u003e \u003cp\u003eUnderstanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eThe text focuses on the intellectual framework of standard economic theory\u003c\/li\u003e \u003cli\u003eMathematical techniques relevant to theory are discussed, this supplementing theory\u003c\/li\u003e \u003cli\u003eDiscussions in the text are also supplemented by diagrams and equations, making them easier to grasp\u003c\/li\u003e \u003cli\u003eAfter reading this book, students will have an understanding of how the seemingly disparate pieces of conventional economics fit together as a system.\u003c\/li\u003e \u003c\/ul\u003e","brand":"Orient Blackswan Pvt Ltd","offers":[{"title":"Paperback","offer_id":45616477208727,"sku":"9788125042785","price":825.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9788125042785.webp?v=1769294894","url":"https:\/\/atlanticbooks.com\/products\/microeconomic-theory-old-and-new-a-students-guide-9788125042785","provider":"Atlantic Books","version":"1.0","type":"link"}