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Microeconomic Theory 1st Edition

by Andreu Mas-Colell (Author), Michael D. Whinston (Author), Jerry R. Green (Author)

4.3 153 ratings

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Many instructors of microeconomic theory have been waiting for a text that provides balanced and in-depth analysis of the essentials of microeconomics. Masterfully combining the results of years of teaching microeconomics at Harvard University, Andreu Mas-Colell, Michael Whinston, and Jerry Green have filled that conspicuous vacancy with their groundbreaking text, Microeconomic Theory.
The authors set out to create a solid organizational foundation upon which to build the effective teaching tool for microeconomic theory. The result presents unprecedented depth of coverage in all the essential topics, while allowing professors to "tailor-make" their course to suit personal priorities and style. Topics such as noncooperative game theory, information economics, mechanism design, and general equilibrium under uncertainty receive the attention that reflects their stature within the discipline. The authors devote an entire section to game theory alone, making it "free-standing" to allow instructors to return to it throughout the course when convenient. Discussion is clear, accessible, and engaging, enabling the student to gradually acquire confidence as well as proficiency. Extensive exercises within each chapter help students to hone their skills, while the text's appendix of terms, fully cross-referenced throughout the previous five sections, offers an accessible guide to the subject matter's terminology. Teachers of microeconomics need no longer rely upon scattered lecture notes to supplement their textbooks. Deftly written by three of the field's most influential scholars, Microeconomic Theory brings the readability, comprehensiveness, and versatility to the first-year graduate classroom that has long been missing.

ISBN-10

0195073401
ISBN-13

978-0195073409
Edition

1st
Publisher

Oxford University Press
Publication date

June 15, 1995
Language

English
Dimensions

10.27 x 7.95 x 2.07 inches
Print length

1008 pages
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Editorial Reviews

Review

"Clear, comprehensive, and deep! The authors' treatment is both contemporary and probing, covering all aspects of modern microeconomic theory at a level accessible to graduate students, and which goes beyond simple statement of results to underscore the underlying intuition. This text should be a standard for graduate study in microeconomics!"--Lars Stole, University of Chicago

"An excellent, comprehensive text."--Michael Jerison, SUNY at Albany

"Broader and deeper than any graduate microeconomics textbook I know."--Rajeev Dehejia, Harvard

"Outstanding! The choice of topics, coverage, and degree of sophistication is perfect for a first-year graduate theory sequence."--Glenn MacDonald, W.E. Simm Graduate School of Business

"Extremely helpful as a teaching aid in a first year graduate theory course. It covers a great deal of material, motivating the material with informal discussion yet presenting it compactly and rigorously, with illuminating diagrams and formal examples. There is also a wealth of interesting homework problems."--Truman F. Bewley, Yale University

About the Author

Andreu Mas-Colell is at Universitat Pompeu Fabra, Barcelona, Spain. Michael D. Whinston is at Harvard University. Jerry R. Green is at Harvard University.

Product details

Publisher ‏ : ‎ Oxford University Press; 1st edition (June 15, 1995)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 1008 pages
ISBN-10 ‏ : ‎ 0195073401
ISBN-13 ‏ : ‎ 978-0195073409
Item Weight ‏ : ‎ 4.83 pounds
Dimensions ‏ : ‎ 10.27 x 7.95 x 2.07 inches

Best Sellers Rank: #368,974 in Books (See Top 100 in Books)
- #74 in Microeconomics (Books)
- #215 in International Economics (Books)
- #1,227 in Core

Customer Reviews:
4.3 153 ratings

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Michael Dennis Whinston
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Best there is

Reviewed in the United States on August 24, 2004

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I have read three graduate level Microeconomic Thoery texts: Mas-Colell, et al. Microeconomic Theory, Varian's Microeconomic Analysis, and Krep's A Course in Microeconomic Theory.

Mas-Colell is generally the most detailed, inclusive book that must be on the shelf of any serious economist. It has its weak points; however, it is the best that there is for learning the basics of microeconomic theory. Note that this book is generally the text of choice for the first year of graduate study at most all of the top econ programs.

The math requirements for getting the most out of this book are fairly heavy. With out a good math for economists course, this book is very difficult to use.

Kreps book takes on more of the game theory approach. This is very interesting for the game/decision theorist, and is a highly recommended in addition to Mas-Colell for those with these interests.

Varian is often used in masters degree level graduate programs, and lower-level phd programs. At Cornell, Varian covered most of the information from the first semester of microeconomics, but provided virtually no help after that.

It is not as intense as Mas-Colell. However, it is often very helpful in its own right. For students who are using Mas-Colell in their courses, but are struggling to grasp all of the concepts, Varian presents the information in a more "user-friendly" way. He spends more time explaining the concepts using english rather than math, which can be very helpful to someone just starting out.

Additionally, I found the practice problems and examples in Varian very helpful when studying for exams.

In summary, all serious economists usually have Mas-Colell. Other than that, choose your additional books based on your needs and interests.

108 people found this helpful

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Justin Ye

The Classic

Reviewed in the United States on November 9, 2023

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The Holy Bible of the first year Econ PhD student. Sure, some sections are more poorly done than others, but you can’t not have MWG.

Reviewed in the United States on March 29, 2010

Verified Purchase

If there is a textbook that every student of economics needs to read is this one: The difference between understanding this book and not is the difference between a layman and an economist. I am an undergraduate student and I have used this book for self study since I noticed that my university didn't show me the real deal (in the undergraduate courses) in the matter of economic theory.

The book gives a complete overview of the modern mathematical economic theory in a clear and accessible way, in contrast to the inaccessible style of specialized books and articles, but not dumbed down like other textbooks. The books has a quite walrasian flavor, since the main author is a distinguished scholar that works in the neowalrasian tradition.

The book is divided into 5 sections, individual decision making, game theory, partial equilibrium analysis, general equilibrium analysis and social choice theory and mechanism design. Each section carefully explains the basic theorems of each field and it's main results in a very accessible way and gives the reader basic understanding of their meaning and consequences in understanding economic phenomena. The best section is the one about general equilibrium, following the walrasian tone of the books as whole.

Some have criticized the book, since it didn't contain any passages about public choice theory and new institutional economics. Well, I agree that these fields are very important but if the book had to include everything, it would have 3,000 pages. So the author selected some of the most important areas of research, with covers modern equilibrium economics at its best.

14 people found this helpful

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Jade

DISHONEST bookseller

Reviewed in the United States on January 31, 2015

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So I rented this book from Andreu Mas-Colell for a class I took. I didn't use this book much since we basically studied based on professor's slides, which means I seldom opened the book! And after last semester I returned this book. Over one month later, I got the book back and they told me the book was damaged and they charged me over 100 dollars! I checked the book, there is a hole on the back cover. But it wasn't me! I didn't even use the book and it was just on my bookshelf for the whole semester. How could they return the book to me, claiming that I damaged the book after I have returned the book for over a month?! Fine, if you found that I damaged the book. Return it to me and charge me as soon as you got the book. But over a month? Anything could happen. Now you said I damaged book? How ironic. Besides, I DIDN'T damage the book because I even didn't use it. The most DISHONEST bookseller I have ever seen!

Reviewed in the United States on October 10, 2009

Verified Purchase

It is the main reference for a Micro-theorist. The pervasive use of mathematics makes it effective and direct to the point. It can be sometimes harder to understand, especially for beginners to the subsject, but penetrating the method for analysis that authors follows comes naturally as you deepen into the subject.

3 people found this helpful

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