How is measure theory used in microeconomics

Basics of microeconomics

Introduction

The book offers a unique and thorough introduction to microeconomics. The starting question is why and how people organize economic activities. Based on this, an institutional economic perspective is developed, with the help of which the possibilities and limits of different types of markets (complete competition and external effects, monopoly, oligopoly) to reduce scarcity and to achieve other goals are examined. The book includes traditional models of rational behavior, but also integrates knowledge of behavioral economics and psychology in a systematic way. The approach of the book is characterized by two particularities. First, it develops an integrative approach that embeds the central results of economic research in a larger context of knowledge. In doing so, conclusions for the design of the legal system as well as for the development of corporate strategies are systematically developed, and the theories are subjected to a critical philosophical reflection and compared with the ideas of other social sciences. Second, the book places an emphasis on short as well as comprehensive case studies that facilitate an understanding of the importance of theories to our understanding of practice.

Keywords

Microeconomics Philosophy of Economics Comparative advantage Supply and demand Individual and social behavior Monopolistic and oligopolistic competition Market failure

Authors and affiliations

  1. 1.Institute of EconomicsUniversity of St. Gallen Institute of EconomicsSt. Gallen Switzerland

About the authors

Martin Kolmar is Professor of Economics at the University of St. Gallen.

Bibliographic information