This unique text uses Microsoft Excel® workbooks to instruct students. In addition to explaining fundamental concepts in microeconomic theory, readers acquire a great deal of sophisticated Excel skills and gain the practical mathematics needed to succeed in advanced courses. In addition to the innovative pedagogical approach, the book features explicitly repeated use of a single central methodology, the economic approach. Students learn how economists think and how to think like an economist. With concrete, numerical examples and novel, engaging applications, interest for readers remains high as live graphs and data respond to manipulation by the user. Finally, clear writing and active learning are features sure to appeal to modern practitioners and their students. The website accompanying the text is found at www.depauw.edu/learn/microexcel.
Introduction; Part I. The Theory of Consumer Behavior: 1. Budget constraint; 2. Satisfaction; 3. Optimal choice; 4. Comparative statics; 5. Endowment models; 6. Bads; 7. Search theory; 8. Behavioral economics; Part II. The Theory of the Firm: 9. Production function; 10. Input cost minimization; 11. Output profit maximization; 12. Input profit maximization; 13. Consistency in the theory of the firm; 14. Monopoly; 15. Game theory; Part III. The Market System: 16. Partial equilibrium; 17. General equilibrium; Conclusion.