Microeconomics is that branch of economics that studies the behaviour of consumers and producers (economic units), as individuals and as groups, in making decisions regarding the allocation of limited resources.

Originally published in 1975, Modern Microeconomics 2e,Koutsoyiannis helps the reader examine the decisions and behaviour of economic units, which influence the supply and demand for goods and services, which in turn, determine prices and vice-versa. The text uses traditional microeconomic theory as a starting point to this analysis before culminating in a study of oligopoly, which is a market form that is dominated by a limited number of sellers.

The book analyses market mechanisms that influence allocation of resources amongst their many uses as well as the factors that influence prices of goods and services by examining the theory of factor pricing, general equilibrium theory, welfare theory, and price theory. Koutsoyiannis uses diagrams extensively to illustrate her explanation of microeconomic theory thereby providing for easy readability and comprehension.

Modern Microeconomics 2e,Koutsoyiannis is considered an important text among standard microeconomic textbooks for its treatment of oligopoly as the norm rather than the exception in the modern industrial world. It is written at an intermediate level and is designed for undergraduate economics courses. It is also of use to postgraduate students and individuals preparing for national competitive exams.

About Anna Koutsoyiannis

Anna Koutsoyiannis is a renowned micro-economist. Her research areas include a study of the leaf tobacco market of Greece and the goals of oligopolistic firms.

She is considered an important post-Keynesian economist by her peers. Her other books are Theory of Econometrics (1973) and Non-Price Decisions (1982).

Anna Koutsoyiannis was born in Athens, Greece in 1932. She gained a B.A. at the Athens School of Economics in 1954 and received her Ph.D. in 1962 at the University of Manchester. After having served as Lecturer at the Graduate School of Business Studies in Athens, Greece (1962-1964), the University of Thessaloniki, Greece (1964-1968), she taught at the University of Lancaster, United Kingdom (1968-1975) before moving to the University of Ottawa, Canada where she taught until her death in 1986.