Book•
Intermediate microeconomics : A modern approach
01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
Citations
More filters
01 Jan 2020
TL;DR: In this paper, the authors assessed the factors which influenced households' choice of waste disposal methods using cross-sectional data of 547 households from seven districts in the Brong-Ahafo region of Ghana.
Abstract: This study assessed the factors which influenced households’ choice of waste disposal methods using cross-sectional data of 547 households from seven districts in the Brong-Ahafo region of Ghana I
5 citations
Posted Content•
TL;DR: In this article, the authors investigated the impact of health on labour productivity surrogated by income at the household level and showed that the burden of income loss due to ailment, which is significantly high in the poorest of the poor in both rural and urban areas, forms a geographic contiguity across the six states of eastern and central India (Bihar, Uttar Pradesh, Chhattisgarh, Jharkhand, Orissa and West Bengal) indicating institutional failures in improving or ensuring the quality of public health.
Abstract: The main aim of this paper is to investigate the impact of health on labour productivity surrogated by income at the household level. Using data from a nationally representative survey of 73, 868 households conducted from January to June 2004 in India, this paper shows that the burden of income loss due to ailment, which is significantly high in the poorest of the poor in both rural and urban areas, forms a geographic contiguity across the six states of eastern and central India (Bihar, Uttar Pradesh, Chhattisgarh, Jharkhand, Orissa and West Bengal) indicating institutional failures in improving or ensuring the quality of public health. Policy level variables such as the amenities index consisting of information on household level health influencing factors, e.g., availability of latrine, drainage, safe drinking water, clean energy for cooking etc., gender composition of the household reflected in the sex ratio of adult household members in the working ages, average education of the household members, etc., are significant determinants of the burden of income loss due to illness in addition to other socio-demographic factors such as social group, religion and age.
5 citations
21 Sep 2011
TL;DR: The paper presents an invisible hand process simulation using a multi agent approach and its measure with a IQS - collective intelligence factor used to calculate the intelligence of a given social structure by defining the IQS of the market.
Abstract: The paper presents an invisible hand process simulation using a multi agent approach and its measure with a IQS - collective intelligence factor used to calculate the intelligence of a given social structure. Since it is widely assumed that in a free market, market participants create such a structure the authors claim that it is possible to calculate the effect of the invisible hand process by defining the IQS of the market. The agents behavior and interaction is modeled by adapting classical models from a theory of microeconomics which describes the ways goods are exchanged among agents. The paper also introduces in details the concept of a multi-agent market simulator which was used in experiments.
5 citations
Book Chapter•
01 Jan 2009
TL;DR: In this article, the authors argue that traditional economics is vulnerable when presented mathematically, especially at the level of intermediate microeconomics, where the foundations are still essentially Marshallian, because the mathematics itself is fallacious.
Abstract: A great strength of traditional economics is the absence of a welldeveloped, coherent alternative. The pressure to teach something often results in orthodox microeconomics ruling the roost. However, political economists should not be afraid to teach approaches which, in apparent contrast to the logically complete traditional economics of the firm, are inchoate and do not answer every question. A new approach is never born complete but evolves, and the process of teaching an alternative from an incomplete starting point can lead to its development over time. However, an essential first is to demonstrate to students that the ostensibly welldeveloped and coherent traditional model is in fact an empty shell. That is difficult in a principles course, since the increase in business majors and the relegation of economics to a service role has dumbed down the content so much that critiquing it is problematic: it is hard to critique something that is itself so nebulous. The potential for a critique arises at the intermediate level, where the mathematical treatment is first encountered. Many political economists eschew mathematics, often because it is seen as part of why traditional economics is so flawed. Ironically, however, it is precisely when traditional economics is presented mathematically that it is most vulnerable – especially at the level of intermediate microeconomics, where the foundations are still essentially Marshallian – because the mathematics itself is fallacious. I begin my teaching of heterodox microeconomics by recapping traditional microeconomics, and then demonstrating that the following two key aspects of the theory are mathematically false.
5 citations
Additional excerpts
...That alone will distinguish a pluralist course from a neoclassical one – by way of illustration, there is not one single table of empirical data in Varian (2006). However, I prefer to take an interlude, after critiquing neoclassicism, with a market simulation known as Starpower....
[...]
Journal Article•
TL;DR: In this paper, the authors presented a research work on agricultural economics at the University of Tehran, Iran, focusing on the use of agricultural economics in agriculture education, and agricultural economics.
Abstract: _____________________________________________________________________________ 1 Department of Agricultural Economics, College of Agriculture, University of Tehran. Tehran, Islamic
5 citations
Cites methods from "Intermediate microeconomics : A mod..."
...The basics of supply curve extraction from maximizing profits is essentially the same as that used by Varian (2010) with some modifications....
[...]