Microeconomics of Market Equilibrium
This textbook contains theoretical material accompanied by exercises with solutions. It covers the following topics: exchange economy, consumer choice under uncertainty, exchange economy with contingent goods, equilibrium in an economy with production (including partial equilibrium model) and market failures (externalities and public goods). To demonstrate the logic of microeconomic analysis, all topics are approached in a common style providing an insight into the relations of microeconomic models covered. All notions and propositions are illustrated with numerous diagrams to facilitate a better understanding of the material.
This book can be used by undergraduates in economics, masters students with undergraduate degrees in non-economic areas (mathematics, physics, etc.), as well as by anyone interested in economic analysis.