The Microeconomics of Complex Economies: Evolutionary, Institutional, and Complexity Perspectives: Evolutionary, Institutional, Neoclassical, and Complexity Perspectives - Hardcover

Wolfram Elsner; Henning Schwardt; Torsten Heinrich

Hardcover

ISBN 10: 0124115853 ISBN 13: 9780124115859

Publisher: Academic Press Inc, 2014

Synopsis

The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset. Written so chapters can be used independently, the book includes simulation packages and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of orthodox economic theories. * Describes the usefulness of complex heterodox economics* Emphasizes divergences and convergences with neoclassical economic theories and perspectives* Fits easily into courses on intermediate microeconomics, industrial organization, and games through self-contained chapters

About this title

Review:

This intermediate-level microeconomics textbook introduces the methods and practical applications of complexity in economics.

From the Back Cover:

This introduction to complex economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies; information and innovation, including national/regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset.

Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories. When students realize that processes require strategic knowledge and when they understand the connections between economics, modern biology, and systemic physics, they can enjoy dealing with "true" uncertainty.

About this edition

• Publisher: Academic Press Inc
• Publication date: 2014
• ISBN 10: 0124115853
• ISBN 13: 9780124115859
• Binding: Hardcover
• Number of pages: 600