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Microeconomic Theory
 
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Microeconomic Theory [Hardcover]

Andreu Mas-Colell (Author), Michael D. Whinston (Author), Jerry R. Green (Author)
3.7 out of 5 stars  See all reviews (61 customer reviews)
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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

"Excellent text! The scope of the book is vast, including numerous applied topics, noncooperative and cooperative game theory, and an outstanding presentation of general equilibrium theory. It is rigorous, well written, and sparklingly clear. The problems at the end of each chapter typically begin with straightforward exercises and progress to exercises that will challenge the best students."--Myrna Wooders, University of Toronto

"An encyclopaedic text which provides an authoritative treatment of classical microeconomic theory and of key modern developments. Noteworthy features include an excellent discussion of information economics, a superb introduction to game theory, and the most detailed textbook account of static and dynamic general equilibrium theory currently available. The text will be a boon to graduate students of economics and their teachers."--Dilip Abreu, Princeton University

"Presents a rigorous treatment of microeconomic theory at the graduate level. For students with an adequate background, the text is a lucid step beyond the conventional 'Samuelson's Foundations' style treatment. It is thorough, rich, and well exposited."--Steven M. Goldman, University of California at Berkeley

"This book provides the most comprehensive and extensive guidance to microeconomic theory, particularly for first- or second-year graduate students."--Sang Lee, University of Florida

"Sets the standard by which all graduate micro texts must be judged."--David Nickerson, American University

Book Description

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.
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Customer Reviews

61 Reviews
5 star:
 (28)
4 star:
 (7)
3 star:
 (12)
2 star:
 (8)
1 star:
 (6)
 
 
 
 
 
Average Customer Review
3.7 out of 5 stars (61 customer reviews)
 
 
 
 
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5.0 out of 5 stars a good book, Feb 16 2012
This review is from: Microeconomic Theory (Hardcover)
a classic book of microecomomics. I bought this and will keep it on my shelf so that I can look up or refer to it whenever I get questions in microecomomics
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2 of 3 people found the following review helpful
1.0 out of 5 stars Ask yourself one question, Jun 16 2003
By A Customer
This review is from: Microeconomic Theory (Hardcover)
There appears to be a significant difference in opinions regarding the approach used by MWG. I believe that at the end of the day one has no choice but to conclude that the mathematical dependence by MWG is not conducive to critical thinking. Such a conclusion reveals the tragedy of modern day economics: mathematical elegance is preferred to practicality and intuition.

The main question that a reader of this book should ask is: Does MWG present a framework of analysis that enhances an individual's ability to develop economic policy that can effectively address the economic problems we face in the real world?

I believe that the answer is unambiguously NO. Instead, this book represents all that is wrong with modern day economics. That is to say that the real world plays a minimal role in MWG. In fact, most economists seem increasingly less and less concerned with solving real world problems. A look through most mainstream journals reveal that many economists enjoy inventing mathematical problems and presenting a clever mathematical solution to them. Whether what they have produced contributes to our knowledge about how the world works is rarely, if ever, a consideration.

Economists need to decide whether they want to be theorists or contribute to policy. These two roles require significantly different skill sets. Unfortunately, to pursue graduate studies in economics, students are required only to learn the mathematical tools for theory; there is no requirement or real inclination in graduate schools to instill students with a firm understanding of the political economy that goes on in policy work. This explains why macroeconomics and econometrics has proved to be increasingly unhelpful, and many cases causes damage, when used in practice.

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3 of 3 people found the following review helpful
5.0 out of 5 stars Excellent treatment in theoretical microeconomics, Mar 16 2004
By A Customer
This review is from: Microeconomic Theory (Hardcover)
The book presents a very complete treatment in theoretical microeconomics. It is rigorous but plenty of explanations and examples.

Some readers complain about the lack of real world examples and the math level. Well, the book is intended for graduate students in economics and requires full command of calculus in several variables, nonlinear optimisation (Kuhn-Tucker), and some concepts in real analysis. Without, this background I understand it may be painful to read it. One advice is reviewing the mathematical appendix and using a complementary text like Simon&Blume. Once you get used to this the story changes a lot (own experience).

It is true that you don't find here many real world examples, but simply the book is not intended for this purpose. If you want this try another one.

In sum, if you want a good background in theory this is the benchmark (I've read Varian also and some parts of Kreps).

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