The second edition has been
fully updated and reworked, including an additional chapter on game theory.
With its comprehensive coverage the book combines the theoretical rigour of an
intermediate microeconomic text with extensive applications of the key principles to
evidence and data drawn from the UK, Europe and other international sources.
ˇ Introduction and review -
reminds the reader of the prerequisites for intermediate study of the topic area.
ˇ Theoretical developments - introduces the substance of theory and debate.
ˇ Applications and evidence - surveys a wide range of literature testing the validity of
the principles previously encountered.
ˇ Review questions and solutions - gives the reader the opportunity to self-check
materials in each chapter. A complete set of fully worked solutions is provided at the end
of the book.
ˇ A graded and comprehensive reading list - covers both texts and articles, providing an
invaluable resource for those who wish to pursue topics in greater depth.
Two appendices with greater detail on the mathematical and statistical foundations are
included at the end of the book.
Throughout the book the authors, both of whom are very experienced teachers and writers,
have been conscious of the practical needs of hard-pressed students and lecturers. An
Instructor's Manual is available free of charge to all lecturers adopting the book as a
class text.
Comments on the first edition
'This is an excellent text. It is unique in the amount of applications and evidence which
it contains.' University of Manchester
'This text builds well on the tradition of Applied Economics and is a welcome addition to
the area of intermediate microeconomics.' University of Nottingham
'A breath of 'fresh air' to see an intermediate text combining theory with applications in
this way.' Coventry Business School
Contents
Preface
Acknowledgements
1. Consumer behaviour and individual demand
2. Market demand
3. Risk, uncertainty and choice
4. Production and cost
5. Firm objective and firm behaviour
6. Competitive markets
7. Monopoly
8. Oligopoly and game theory
9. Game theory
10. Factor markets
11. General equilibrium, economic efficiency and social welfare
12. Externalities, public goods and market failure
13. Regulation, deregulation and public policy
Answers to Review Questions
Appendix 1: Mathematical foundations
Appendix 2: Statistical foundations
Glossary
Alan Griffiths B.A., M.Sc.,
is Reader in Economics at Anglia Polytechnic University, having previously been Tutor in
Economics at the University College of Wales, Aberystwyth. He has been visiting fellow for
both the Japan Foundation at Sophia University, Tokyo and Yokohama National University.
Stuart Wall B.A., M.Sc., was formerly Principal Lecturer and Head of Economics at
Anglia Polytechnic University, and a visiting lecturer, supervisor and examiner at
Cambridge University. He has recently returned to Anglia, having acted as a consultant to
the OECD Directorate for Science, Technology and Industry, and as a member of economic
degree awarding bodies in the UK.
744 pages
