Here are 53 books that Microeconomic Foundations I fans have personally recommended if you like
Microeconomic Foundations I.
Shepherd is a community of 12,000+ authors and super readers sharing their favorite books with the world.
I am Professor of Economics at Washington State University. My research focuses on applying Industrial Organization to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and mergers decisions, both under complete and incomplete information contexts.
This is still regarded as the Microeconomics “bible” among PhD students at top programs.
Most students often say they “had to suffer” this book (typically known as MWG) after being able to fully understand its details years later (hopefully before completing their PhD degrees!). While relatively technical in some chapters, it is extremely useful to get used to writing style of journal articles.
Detailed exposition of general equilibrium theory.
I am Professor of Economics at Washington State University. My research focuses on applying Industrial Organization to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and mergers decisions, both under complete and incomplete information contexts.
This book is highly recommended for students in graduate programs with a strong game theory and mechanism design focus.
As MWG, it is especially technical in some chapters, but its writing is more “modern” in Introductions and other sections, helping the reader “see the forest” a bit more easily than with other books. The math appendix is also excellent and exercises are a good challenge for strong students.
I am Professor of Economics at Washington State University. My research focuses on applying Industrial Organization to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and mergers decisions, both under complete and incomplete information contexts.
A short presentation of consumer and producer theory (no game theory or contract theory), very rigorous, and with some interesting examples.
Challenging exam exercises at the end of the book. Last but not least, the eBook is available for free from Prof. Ariel Rubinstein’s website.
While most students may find it too succinct to be the only reference in PhD Microeconomics courses, it is probably one of the references several students use (seeking different explanations and examples) at top PhD programs.
This book presents Ariel Rubinstein's lecture notes for the first part of his well-known graduate course in microeconomics. Developed during the fifteen years that Rubinstein taught the course at Tel Aviv University, Princeton University, and New York University, these notes provide a critical assessment of models of rational economic agents, and are an invaluable supplement to any primary textbook in microeconomic theory. In this fully revised and expanded second edition, Rubinstein retains the striking originality and deep simplicity that characterize his famously engaging style of teaching. He presents these lecture notes with a precision that gets to the core of…
I am a Professor of Economics at Washington State University. My research focuses on applying Game Theory and Industrial Organization models to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and merger decisions, both under complete and incomplete information contexts.
An excellent game theory book for graduate students, especially for Master's students taking second-year elective courses on game theory, and even technical enough for the first-year Ph.D. Microeconomics course (since most schools spend most of the second semester covering game theory, contract theory, and applications.)
Rigorous, with detailed definitions and notation, yet accessible to senior undergraduate students at top schools (with a strong math background) or Master's students.
This comprehensive textbook introduces readers to the principal ideas and applications of game theory, in a style that combines rigor with accessibility. Steven Tadelis begins with a concise description of rational decision making, and goes on to discuss strategic and extensive form games with complete information, Bayesian games, and extensive form games with imperfect information. He covers a host of topics, including multistage and repeated games, bargaining theory, auctions, rent-seeking games, mechanism design, signaling games, reputation building, and information transmission games. Unlike other books on game theory, this one begins with the idea of rationality and explores its implications for…
When understanding the interactions in our economy, it is critical to recognize all participants in this complex system. I’m passionate about microeconomics because it provides me with a different perspective to examine the world around me. I use my microeconomic glasses and I enjoy rationalizing the daily interactions and predicting the potential outcomes.
This is a classic reference for students learning microeconomic theory, both in economics and business degrees.
It offers a nice combination of motivating real-life examples, rigor, figures, and intuitive explanations.
Because it avoids mathematical details in most chapters, it is often used in introductory courses, helping get students “hungry for more” in next courses, such as intermediate or advanced microeconomics.
However, it assumes a bit more mathematical background than Krugman and Wells’ book (presented above), so it can be used as the main reference for introductory courses if students have some basic algebra.
Microeconomics and its role in decision making and public policy
Microeconomics exposes readers to topics that play a central role in microeconomics. From game theory and competitive strategy, to the roles of uncertainty and information, and the analysis of pricing by firms with market power, the text helps you understand what's going on in the world of business. It also shows you how microeconomics can be used as a practical tool for decision-making and for designing and understanding public policy. The 9th Edition further illustrates microeconomics' relevance and usefulness with new…
After college, I studied economics and law. Working in antitrust lets me use what I’ve learned about both fields. I’ve been a professor at a law school and a business school and worked on competition issues while serving in senior government positions in multiple federal agencies, including both antitrust agencies. I also like working in antitrust because fostering competition is important to our economy. Competition encourages firms to pursue success by developing and selling better and cheaper products and services, not by coordinating with their rivals or trying to exclude them. And I like antitrust because the cases can involve any industry—I might learn about baby food one day and digital platforms the next.
The antitrust rules introduced in the late 1970s and 1980s are largely still in place.
In important ways, those rules were shaped by the economic analyses and arguments of well-known scholars associated with the University of Chicago.
Since then, microeconomics has been transformed using concepts from game theory, and economic thinking about the competitive consequences of firm practices has changed. This economic-based guide to business strategy distills key concepts that underlie modern antitrust analysis, which is a close cousin to business strategy.
The book lays out those concepts clearly and accessibly, with instructive case studies and minimal jargon. These ideas from economic theory, combined with new empirical tools and data, are the basis for the recent economic research that finds that today’s antitrust rules are inadequate to prevent the acquisition and exercise of market power.
Bruce Greenwald, one of the nation's leading business professors, presents a new and simplified approach to strategy that cuts through much of the fog that has surrounded the subject. Based on his hugely popular course at Columbia Business School, Greenwald and his coauthor, Judd Kahn, offer an easy-to-follow method for understanding the competitive structure of your industry and developing an appropriate strategy for your specific position.
Over the last two decades, the conventional approach to strategy has become frustratingly complex. It's easy to get lost in a sophisticated model of your competitors, suppliers, buyers, substitutes, and other players, while losing…
When understanding the interactions in our economy, it is critical to recognize all participants in this complex system. I’m passionate about microeconomics because it provides me with a different perspective to examine the world around me. I use my microeconomic glasses and I enjoy rationalizing the daily interactions and predicting the potential outcomes.
This is a widely used book in introduction to microeconomics courses in colleges around the world, from the Nobel Prize winner Paul Krugman.
The book assumes no algebra or calculus, other than elementary arithmetic, thus being appropriate for students from different backgrounds.
Each chapter is well motivated with real-life problems and data, followed by a basic, intuitive, explanation of how microeconomics helps us model and understand the tradeoff that individuals or firms face in that setting.
Highly recommended for students with little math background.
When it comes to explaining current economic conditions, there is no economist readers trust more than New York Times columnist and Nobel laureate Paul Krugman. Term after term, Krugman is earning that same level of trust in the classroom, with more and more instructors introducing students to the fundamental principles of economics via Krugman’s signature storytelling style. The new Third Edition of Paul Krugman and Robin Wells’s Economics is their most accomplished yet—extensively updated to offer new examples and stories, new case studies from the business world, and expert coverage of the ongoing financial crisis. Watch a video interview of…
Microeconomics is a turnoff to most readers. Not without reason. Many books in this field are dull rewrites of other books and opaque. In particular, it is not clear how the behavior of individual consumers and producers adds to the performance—good or bad—of an economy. The books listed here helped me to sharpen my own mind and to make my writing lucid.
Mark Blaug escaped the Netherlands, just in time before the Nazis marched in, went to New York University, and eventually wrote this colossal overview of the entire body of the economics literature.
He is capable of ordering different formal approaches to the subject matter in plain English, what an achievement.
This is a history of economic thought from Adam Smith to John Maynard Keynes - but it is a history with a difference. Firstly, it is a history of economic theory, not of economic doctrines, that is, it is consistently focused on theoretical analysis, undiluted by entertaining historical digressions or biological colouring. Secondly, it includes detailed Reader's Guides to nine of the major texts of economics, namely the works of Smith, Ricardo, Mill, Marx, Marshall, Wickstead, Wicksell, Walras and Keynes, in the effort to encourage students to become acquainted at first hand with the writings of all the great economists.…
I am a reader of primary texts. One can be dismayed by the number of followers’ easy reliance on secondary literature to create interpretations of their leader’s economic ideas about the sources of society’s well-being. Distortive alteration and the recycling of unfounded ideas about conflicting influential economists’ theories is actually counterproductive. Only scrutiny of an author’s work can reveal false assertions. I’m proposing four authors I’ve scrutinised to find out what they really thought about my main teaching interests: money and credit, and their impact on prices, and the manipulation of the volume of either/both to affect purchasing power. It has been astounding to learn what theory applications, distorting their intent, bear their name.
Hicks envisaged an economy in which individuals choose to offer labour for income to purchase products of their effort or to spend time in uncompensated leisure.
His is a theorical economy: individuals and firms interact to determine current and future supplies and demands. It establishes the laws governing the price system regulating exchange and production.
In this world of transparent, free movement of goods and resources without government, regulations, banks, and unions, there is no room for monopolies or capital accumulation.
Money as intermediary is simply a unit of account. Growth is the outcome of needs, efforts, and mutual cooperation.
Value and Capital, a jewel, is the core of current microeconomics, but Hicks’ economy, in which inflation and income disparities are non-issues, is not a capitalist but a market one; ironically present microeconomists conflate the two.
I’ve been drawn to philosophical inquiry for as long as I can remember (even before knowing philosophy was a thing, which I didn’t realize until after high school). My most enduring interest is in inquiry concerning rationality and irrationality. My early studies focused on the relationship between morality and rationality. My current research focuses on choice situations and preference structures that can interfere with choosing well by prompting self-defeating patterns of choice. The relevant patterns are associated with being tempted or torn and include cases of individual and collective procrastination. Though not a cure-all, understanding rationality’s guidance can, I think, highlight certain pitfalls in life and help us avoid them.
This collection explores a fascinating and currently highly relevant puzzle concerning cases in which the contribution of a single individual will not make the difference between success and failure with respect to a certain important goal (e.g., achieving decent air quality) because the contribution (e.g., walking to the store instead of driving) is too insignificant given the scale of the goal.
In such cases, it might seem not only tempting but permissible or even required that the individual refrain from contributing and instead spend her energy and resources in some more effective way (so as to actually make a difference with respect to some morally or rationally important goal).
Yet, if all reason in this way and refrain from contributing, the important collective goal will not be achieved at all.
The papers collected here represent the most recent work on a much neglected problem in practical reasoning. It is the problem of imperceptible harms and benefits. It is perhaps better to characterize the problem as a collection of puzzles or paradoxes, since those who deny the existence (or possibility) of imperceptible decrements (or increments) face problems no less perplexing than those who affinn their existence. The puzzles and paradoxes combine very practical and pressing worries about our obligations to relieve starvation, mitigate suffering and conserve resources, with deep metaethical worries about the nature of practical rationality. I use these brief…
