Case Studies In Applied Microeconomics

Microeconomics: Case Studies and Applications contains case studies that explore core microeconomics concepts by focusing on current events in economics and providing a theory refresher for each section and questions. Designed to be a companion text to larger microeconomics texts, this resource offers a useful, time-saving alternative to sourcing online articles and journals. As a first-year text it teaches best-practice use of case studies and acts as a stepping stone for students who will source and use articles as they progress through their course. Each case study presents a different application of a core concept or theory. As well as the main text, which presents the application of the core concept, each case study contains a range of extra material. A ‘Theory refresher’ section provides a quick way for students to revise a key concept or theory that is important for understanding the application in that case study.

This book is written with a practical eye on the economic questions being raised by economists in Pakistan today, and its theoretical and quantitative levels.The case-studies provide a series of examples of microeconomic theory in its application to real world situations. The theories of consumer behaviour, firm, and market equilibrium highlight several different problems, which are analysed in mathematical detail.The book is intended to give students an operational grasp of the subject.

Microeconomics is not applied math – frameworks in this book are regularly in use in daily managerial practice and strategic decision-making. Numerous case studies cover price discrimination, economies of scale, digital business models, game theory, dealing with uncertainty, entry barriers or sunk costs – all of which are crucial for understanding market dynamics and competitive behaviour.

Empirical Studies In Applied Economics presents nine previously unpublished analyses in monograph form. In this work, the topics are presented so that each chapter stands on its own. The emphasis is on the applications but attention is also given to the econometric and statistical issues for advanced readers. Econometric methods include multivariate regression analysis, limited dependent variable analysis, and other maximum likelihood techniques. The empirical topics include the measurement of competition and market power in natural gas transportation markets and in the pharmaceutical market for chemotherapy drugs. Additional topics include an empirical analysis of NFL football demand, the accuracy of an econometric model for mail demand, and the allocation of police services in rural Alaska. Other chapters consider the valuation of technology patents and the determination of patent scope, duration, and reasonable royalty, and the reaction of financial markets to health scares in the fast-food industry. Finally, two chapters are devoted to the theory and testing of synergistic health effects from the combined exposure to asbestos and cigarette smoking.