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This second edition of Microeconomics is filled with learning-by-doing problems that give students a chance to make economics their own. These fully worked-out problems provide a step-by-step road map to help students solve numerical problems. Each problem correlates to similar practice problems at the end of each chapter. In addition, the authors include many extensive real-world examples in the text. These examples are contemporary applications of the theory and are longer and more extensive to show the evolution of the example. Each chapter opens with an example to draw readers into the topic.

About the Author
DAVID BESANKO is the Alvin J. Huss Distinguished Professor of Management and Strategy at the Kellogg School of Management at Northwestern University. He received his AB in Political Science from Ohio University in 1977, his MS in Managerial Economics and Decision Sciences from Northwestern University in 1982. Before joining the Kellogg faculty in 1991, Professor Besanko was a member of the faculty of the School of Business at Indiana University from 1982 to 1991. In addition, in 1985, he held a post-doctorate position on the Economics Staff at Bell Communications Research. Professor Besanko teaches courses in the fields of Management and Strategy, Competitive Strategy, and Managerial Economics. In 1995, the graduating class at Kellogg awarded Professor Besanko the L.G. Lavengood Professor of the Year, the highest teaching honor a faculty member at Kellogg can receive.

Coverage of modern topics and more modern treatment of conventional topics. Examples include an integrated treatment of game theory, ologopoly, a more detailed treatment of sunk costs, and consumer surplus. Two chapters devoted to costs and cost curves, as well as a section on consumer surplus, which includes concepts of compensating and equivalent variations.

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