Cover of Intermediate Microeconomics

Intermediate Microeconomics

Hal R. Varian

3 ideas

  1. Optimization and equilibrium

    Varian organizes microeconomics around two principles: agents optimize given constraints, and markets settle at equilibrium. Nearly every model follows from these.

  2. Consumer theory yields demand

    Maximizing utility under a budget constraint generates individual and market demand curves. Preferences plus prices determine choice.

  3. Game theory and market structure

    Oligopoly, Nash equilibrium, and strategic interaction are formalized alongside competition and monopoly. Strategic behavior is treated with explicit models.

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