Microeconomics and Behaviour: South African edition

Professor Heffetz received his B.A. in physics and philosophy from Tel Aviv University in 1999 and his Ph.D. in economics from Princeton University in 2005. He is an Associate Professor of Economics at the Samuel Curtis Johnson Graduate School of Management at Cornell University, where he has taught since 2005. Bringing the real world into the classroom, Professor Heffetz has created a unique macroeconomics course that introduces basic concepts and tools from economic theory and applies them to current news and global events. His popular classes are taken by hundreds of students every year, on the Cornell Ithaca campus and, via live videoconferencing, in dozens of cities across the U.S., Canada, and beyond. Professor Heffetz s research studies the social and cultural aspects of economic behavior, focusing on the mechanisms that drive consumers choices and on the links between economic choices, individual well-being, and policymaking. He has published scholarly work on household consumption patterns, individual economic decision making, and survey methodology and measurement. He was a visiting researcher at the Bank of Israel during 2011, is currently a Faculty Research Fellow at the National Bureau of Economic Research (NBER), and serves on the editorial board of Social Choice and Welfare.

PART 1Introduction
1.Thinking like an economist2.Supply and demand

PART 2The Theory of Consumer Behaviour
3.Rational consumer choice4.Individual and market demand
5.The economics of information and choice under uncertainty6.Cognitive limitations and consumer behaviour

PART 3The Theory of the Firm and Market Structure
7.Production8.Costs
9.Perfect competition10.Monopoly
11.Imperfect competition: a game-theoretic approach

PART 4Factor Markets
12.Labour13.Capital and exhaustible resources

PART 5Externalities, Public Goods and Welfare
14.Externalities, property rights and the Coase theorem15.Government
16.General equilibrium and market efficiency