By Lee S. Friedman
This ebook exhibits, from begin to end, how microeconomics can and will be utilized in the research of public coverage difficulties. it's a thrilling new technique to study microeconomics, inspired via its software to special, real-world concerns. Lee Friedman's smooth alternative for his influential 1984 paintings not just brings the problems addressed into the current yet develops all intermediate microeconomic conception to make this ebook obtainable to a much broader audience.
Friedman deals the microeconomic instruments essential to comprehend coverage research of quite a lot of concerns of public concern--including the new California electrical energy obstacle, welfare reform, public tuition finance, worldwide warming, medical health insurance, day care, tax guidelines, collage loans, and mass transit pricing. those matters are scrutinized via microeconomic versions that establish coverage strengths, weaknesses, and concepts for advancements. every one bankruptcy starts off with motives of a number of basic microeconomic rules after which develops versions that use and probe them in reading particular public policies.
The booklet has fundamental and complementary ambitions. One is to enhance abilities of financial coverage research: to layout, expect the consequences of, and review public guidelines. the opposite is to advance a deep figuring out of microeconomics as an analytic instrument for application--its strengths and extensions into such complex recommendations as normal equilibrium types and pricing tools for traditional monopolies and its weaknesses, reminiscent of behavioral inconsistencies with utility-maximization versions and its limits in evaluating institutional choices. the result's a useful expert and educational reference, one whose transparent rationalization of rules and analytic ideas, and wealth of positive functions, will be sure it a popular position not just at the bookshelves but in addition at the desks of scholars and execs alike.