Microeconomics

The third edition of this popular textbook is expanded to include new economic phenomena brought about by technological and institutional changes. It also outlines schools of thought that complement traditional microeconomic analysis with alternative perspectives and approaches. These include behavioural and feminist economics. The economics of time and quasi-economics in the form of " economics of everything" (freakonomics). The authors also unconventionally focus on the economics of the family, which has been neglected in textbooks, in contrast to the extensive attention paid to the economics of the firm.

The publication explains the behaviour of micro-units, that make up the national and global economy, like consumers, companies, owners of capital and land, employees and trade unions, investors and politicians. It also explains the mechanism of the markets for consumer goods, labour, capital and natural resources, as well as the political market. It shows both the advantages of market regulation and some of its limitations. In this context, the role of government in the microeconomic sphere is highlighted, as well as the potential for its failure. Other topics are also represented, for example, the origin and development of money (up to cryptocurrencies), decision-making in resource-constrained environments, uncertainties and risks, game theory, regulation of natural monopolies, pension distribution, the problem of inequality, etc.

The textbook is intended primarily for students of undergraduate studies in economics and MBA students. However, it will be appreciated by all those interested in understanding the economic background of everyday events in the economy and society. Knowledge of microeconomics is useful for shaping economic strategy in one's own life and for independent interpretation of news and opinions presented in the mass media.