Chicago Price Theory
Casey B. Mulligan, Kevin M. Murphy, Sonia Jaffe, et al.
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Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft
An authoritative textbook based on the legendary economics course taught at the University of Chicago
Price theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse array of practical methods that empower students to learn by doing. Based on Economics 301, the legendary PhD course taught at the University of Chicago, the book emphasizes the importance of applying price theory in order to master its concepts.
Chicago Price Theory features immersive chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, the value of a statistical life, and occupational choice. It looks at human behavior in the aggregate of an industry, region, or demographic group, but also provides models of individuals when they offer insights about the aggregate. The book explains the surprising answers that price theory can provide to practical questions about taxation, education, the housing market, government subsidies, and much more.
- Emphasizes the application of price theory, enabling students to learn by doing
- Features chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, and the value of a statistical life
- Supported by video lectures taught by Kevin M. Murphy and Gary Becker
- The video course enables students to learn the theory at home and practice the applications in the classroom
Factor price, Shortage, Price controls, Productivity, Wage, Revenue, Haircut (finance), Investment, Real estate bubble, Developed country, Marginal Cost Of Production, Price ceiling, Interest rate, Value of life, Elasticity of substitution, Microeconomics, Efficient-market hypothesis, Customer, Indifference curve, Discrete choice, Marginal utility, Subsidy, Real estate appraisal, Stock, Probability, Depreciation, Cost overrun, Consumer, Price, Income, Terminal value (finance), Employment, Earnings, Economics, Consumption (economics), Capital asset, Income elasticity of demand, Durable good, Profit maximization, Inverse demand function, Price discrimination, Price index, Time preference, Total cost, Comparative advantage, Choke Price, Insurance, Slutsky equation, Free entry, Price elasticity of demand, Consumer choice, Real wages, Marginal cost, Corporate tax, Economic equilibrium, Behavioral economics, Tax, Giffen good, Competitive equilibrium, Price elasticity of supply, Price Change, Externality, Necessity good, Demand curve, Tax incidence, Hicksian demand function, Reservation price, Demand, Average cost, Income–consumption curve, Supply (economics), Law of demand, Investment goods, Efficiency, Substitution effect, Capital loss, Supply and demand, Inferior good, Willingness to pay, Production function, Competition (economics), Complementary good, Marshallian demand function, Price level, Production–possibility frontier, Return on capital, Isoquant, Quantity, Change In Supply, Cost curve, Marginal product, Market clearing, Opportunity cost, Composite good, Economic surplus, Deadweight loss, Theory of the firm, Real income, Human capital, Utility