Modern Microeconomics by Anna Koutsoyiannis
Preparing textbooks is really a tough task. Writing textbook does not provide you with creative freedom. Write within a limited space and you just cannot transcend the limit that has been set – so, thinking about creative liberty is almost a sin for an author who has to prepare a textbook for academic purposes. And there, you can just imagine the amount of pain and courage an author has to have!
You have to interpret the ideas and theories propagated a long time ago. However, within the limited atmosphere to explore something new there are some writes who have made their marks by a different style of writing. They write in two different ways – either they present the simplified version of theories or connect it to real life by providing real-life examples. In Economics, Microeconomics is the foundation pillar to support all the building of economic theories. No doubt, there are a lot of books in this field, but one name comes in everyone’s mind when he or she tries to understand the core concepts of macroeconomics. The name of the book is ‘Modern Microeconomics’ By Anna Koutsoyiannis. So, today I am going to talk about this book in detail. And I hope this article (and the book review) will let people have a clear idea of how useful is it for the beginners and experts as well.
About the Book:
Modern Microeconomics by Anna Koutsoyianis is a textbook of macroeconomics. It deals with the core concepts of this subject. It has discussed all the fundamental theories of macroeconomics in detail. The book has given more importance to ‘why’ rather than ‘what’. It tries to build intuition among readers to understand why a certain thing is happening. Economics, at its best as well as the worst, is all about assumptions and the moment one breaks this assumption in simplified form and connects them to real life situation becomes the best selling author. Prof. Anna has done a tremendous job in providing graphs and maths in a simplified form.
Moreover, the book is more focused on mathematical treatise to theories. Where most of the books in microeconomics does not include modern development in the field, the present book has included these chapters like recent theories in demean analysis and the new form of market competition. The author tries to present her thoughts in short paragraphs, never used repetitive arguments and made its volumes. It presents thoughts and concludes them with graphs and mathematics to clarify.
A comprehensive and in-depth analysis has been done by the author to illustrate the theories and make it more feasible for the readers. And this way, the author has ensured that even the beginners in the field of microeconomics do not have any trouble dealing with the subject of their studies. The chapter ‘Theory of Price Determination’ is the best among all chapters. Whether you talk about monopoly or oligopoly the author has done an in-depth analysis by providing diagrams more than words. Moreover, the language is neither easy nor hard and you can certainly call it intermediate. And it guides you in a step by step format and builds your comprehension so that you can understand the core concepts of macroeconomics with the help of three basic things, understanding of theories by words, graphs and maths.
Though it might be my assumption but this book is for the readers who already have a basic understanding of the microeconomics. In a nutshell, it guides a student to become an expert in the subject. It lacks nothing. Language, concepts, diagrams, maths and everything in the is explained in a moderate language that is easy to understand. I strongly recommend this book to everyone who wants to understand the process of economics and tries to connect it with real life.
Amit Mishra is an economist by education; a literature enthusiast by interest; a sportsperson by physique; a kind and straightforward person by nature and a human being by default. You can read his posts on various topics on this personal website of him.