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Modern Economics By Sanjay Rode

This book aims at fulfilling the curriculum requirement of the master’s degree students of Microeconomics, a most practical subject with its many applications. This book will be very useful for micro economic policy making from the local to the global level. It is mainly an attempt to explain an individual’s behavior and a firm’s production function. It elucidates issues like individual utility, saving, income, consumption,information economics, and game theory. General equilibrium, Pareto efficiency, and social welfare are some of the significant topics covered. The various dimensions of the production function, the economics of games, information and logic, and market failure comprise the core of this book.
This book will help students to think, analyze and apply microeconomic issues practically. Various
industry-related examples such as prices, output, employment and games are used to make understanding the micro economic issues in detail easier. By providing insights to students, teachers, policy makers,planners and academicians to think about various current micro economic issues at different levels, this book will ultimately help to solve some of these issues. The consumer choices, preferences, and risks operate at much more complicated levels in micro economic analysis. Each individual has a unique utility function, making it difficult to study each individual’s behavior. Similarly, each firm always tries to produce more commodities to sell in markets in order to obtain the highest possible profits. Therefore,general conclusions are derived from different case studies in this book.
This advanced microeconomics book provides fundamentals of the basic microeconomics identities.
It will also assist students from other educational streams to understand microeconomics issues. This
subject of microeconomics will be easy to understand by the book’s use of examples dealing with issues relevant today.This book is divided into three parts. The first part explains the topics related to consumer behavior.

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