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Micro Markets: A Market Structure Approach to Microeconomic Analysis [Hardcover]

Robert A. Schwartz
3.0 out of 5 stars  See all reviews (2 customer reviews)

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Book Description

May 3, 2010 0470447656 978-0470447659 1
A timely guide that bridges the gap between microeconomic theory and practice through real-world application in the marketplace

Understanding how microeconomics affects the marketplace is essential for any investment professional, however most books simply address microeconomics in its pure theory-based form. Micro Markets helps bridge the gap between theory and practice by defining microeconomics in terms of real-world, market applications.

This timely guide elucidates basic microeconomic concepts with an emphasis on applicability. It establishes a common application for all of the basic economic concepts that are reviewed, and provides in-depth insights into an industry that is of major economic importance in aggregate, and to most individuals.

  • Utilizes equity market realities to underscore the relevance of economic theory
  • Each chapter includes informative practice problems and power points
  • A companion Workbook, with practice problems and solutions, is also available

By taking microeconomic theory and making it applicable to today's marketplace, Micro Markets builds a much-needed bridge between theory and practice.

Frequently Bought Together

Micro Markets: A Market Structure Approach to Microeconomic Analysis + Micro Markets Workbook: A Market Structure Approach to Microeconomic Analysis + Financial Accounting in an Economic Context
Price for all three: $277.86

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Editorial Reviews

From the Inside Flap

Markets are all around us, they lie at the center of our economic lives and tie people, countries, and even the world together in one global economy. Yet understanding them, especially on the "micro" level, can be difficult—unless you have the proper guidance. That's why author Robert Schwartz has created Micro Markets: A Market Structure Approach to Microeconomic Analysis.

Filled with in-depth analysis, this reliable resource bridges the gap between theory and practice by defining microeconomics in terms of real-world market operations. And while the focus is on micro markets, the subject is clearly microeconomic theory.

Page by page, this book illustrates how microeconomic theory is a powerful paradigm that provides insights into how micro markets operate and offers an excellent set of tools for understanding the forces that drive production and consumption decisions, as well as the level of economic efficiency that markets, and the people operating in them, can achieve. Schwartz sets forth an effective analysis with regard to broadly defined, abstract resources and turns to the equities markets as a consistent, thematic application of microeconomic theory.

Other important issues addressed include:

  • How can market frictions—such as transaction costs, blockages, risks, uncertainties, imperfect knowledge, and other impediments—affect market outcomes?

  • Do micro markets have the ability to efficiently service our needs in a free market setting?

  • How can a firm's output be set, an individual's consumption or asset holdings determined, or a product's price established?

  • What's the appropriate balance between free market competition and government intervention?

  • And much more!

And to further enhance your understanding of the tools and techniques presented here, Micro Markets Workbook by Robert Schwartz, Michael Carew, and Tatiana Maksimenko—an essential study guide that contains challenging questions (and answers) related to the concepts developed here—is also available.

Markets are complex and the forces that impact them are intricate. But by taking the microeconomic theory discussed here and applying it to your own endeavors, you'll gain a better perspective of the individual markets that comprise a broad economy.

To gain hands-on experience with trading in the equity markets, don't forget to pick up Mastering the Art of Equity Trading Through Simulation + Web-Based Software: The TraderEx Course, by Robert Schwartz, Gregory Sipress, and Bruce Weber.

From the Back Cover

Praise for Micro Markets

"Robert Schwartz's Micro Markets is a lucid intermediate microeconomics textbook with a good sense of humor that makes it a pleasure to read.¿ It is an excellent presentation of price theory, with numerous applications to financial markets, for students in economics and finance and for MBA students."
Barry R. Chiswick, Distinguished Professor, Department of Economics, and Director, Center for Economic Education, University of Illinois at Chicago

"Micro Markets is a wonderful microeconomics text. Professor Schwartz's passion and talent for teaching shines through on every page."
Dr. Benn Steil, Senior Fellow and Director of International Economics, Council on Foreign Relations

"Micro Markets is an excellent, fascinating book. With skill and penetrating insight, Professor Schwartz has united traditional microeconomic theory with the workings of real-world markets. In so doing, he has underscored the important effects that factors such as illiquidity, trading frictions, and imperfect knowledge can have on market outcomes. His book will have much appeal to a broad range of readers, including academicians, economics and finance students, and industry professionals."
Reto Francioni, CEO, Deutsche Börse Group, Frankfurt, Germany

Product Details

  • Hardcover: 444 pages
  • Publisher: Wiley; 1 edition (May 3, 2010)
  • Language: English
  • ISBN-10: 0470447656
  • ISBN-13: 978-0470447659
  • Product Dimensions: 9 x 6.1 x 1.7 inches
  • Shipping Weight: 1.4 pounds (View shipping rates and policies)
  • Average Customer Review: 3.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Best Sellers Rank: #2,072,606 in Books (See Top 100 in Books)

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Customer Reviews

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Most Helpful Customer Reviews
2 of 3 people found the following review helpful
5.0 out of 5 stars Excellent! June 14, 2010
Bright, informative, even witty treatment of the subject.
Perhaps aimed largely at students and industry professionals, I highly
recommend this book for anyone seeking a better understanding of the workings
of markets and the economy in general.
Bang up to date, Prof. Schwartz's treatment of the "debacle" of 2008
is clear and enlightening.
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1.0 out of 5 stars This is not macroeconomic book October 19, 2013
By Sofia
Format:Hardcover|Verified Purchase
The author is at "Random Walk" not the stock price. It is not a micro economic textbook for the beginner. Very difficult to understand. Horriable
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