Chicago Price Theory

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
  

Author: Sonia Jaffe,Robert Minton,Casey B. Mulligan
Publisher: Princeton University Press
Published: 09/10/2019
Pages: 248
Binding Type: Hardcover
Weight: 1.55lbs
Size: 10.10h x 7.20w x 1.10d
ISBN: 9780691192970

About the Author
Sonia Jaffe is a research economist at Microsoft. Robert Minton is a PhD student in business economics at Harvard Business School. Casey B. Mulligan is professor of economics at the University of Chicago. Kevin M. Murphy is the George J. Stigler Distinguished Service Professor of Economics at the University of Chicago's Booth School of Business.