Readings in Microeconomics

UPL Readers Series is intended to contribute to the process of raising the competence and the vision of students of Bangladesh so as to enable them to come to grips with pioneering first hand research and expose them to advanced literature in their respective disciplines.] This book of Readings is intended to provide students in Bangladesh an introduction, from original sources, to the concepts and tools of modern microeconomics. Textbooks generally focus upon what is clearly known and agreed upon; they do not impact the thrill of meeting new problems, nor do they focus upon the fact that there is often a considerable distance between the problem one initially wished to solve and the final problem that one could solve. Learning about these issues is a necessary part of one's education. Starting from classic articles such as Radford's Economics of a P.O.W. Camp which elaborates in accessible style how markets arise and function even in the most unusual circumstances, the Reader goes on to articles which deal with the value theory, utility maximization, consumption-loan model, market mechanism and insurance markets, a foundational piece for recent economic theory, to articles on uncertainty and agency theory. Additionally the articles introduce to the students some of the minds that have treaded the subject. To make the Readings self-contained in coverage, Fahad Khalil has provided an Introduction of Game Theory. The book should be vital importance to students, especially those aspiring to go abroad for studies and practitioners of economics ho are interested in analyzing human activity in the market.