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Chicago Price Theory

Kevin M Murphy author Casey B Mulligan author Sonia Jaffe author Robert Minton author

Format:Hardback

Publisher:Princeton University Press

Published:30th Aug '19

Should be back in stock very soon

Chicago Price Theory cover

An authoritative textbook based on the legendary economics course taught at the University of Chicago

Price theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse array of practical methods that empower students to learn by doing. Based on Economics 301, the legendary PhD course taught at the University of Chicago, the book emphasizes the importance of applying price theory in order to master its concepts.

Chicago Price Theory features immersive chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, the value of a statistical life, and occupational choice. It looks at human behavior in the aggregate of an industry, region, or demographic group, but also provides models of individuals when they offer insights about the aggregate. The book explains the surprising answers that price theory can provide to practical questions about taxation, education, the housing market, government subsidies, and much more.

  • Emphasizes the application of price theory, enabling students to learn by doing
  • Features chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, and the value of a statistical life
  • Supported by video lectures taught by Kevin M. Murphy and Gary Becker
  • The video course enables students to learn the theory at home and practice the applications in the classroom
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"A tremendous resource. This comprehensive and innovative book brings together in one great package the Chicago way of thinking about price theory."—Douglas A. Irwin, author of Free Trade under Fire

ISBN: 9780691192970

Dimensions: unknown

Weight: unknown

248 pages