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Microeconomic Theory
Many instructors of microeconomic theory have been waiting for a text that provides balanced and in-depth analysis of the essentials of microeconomics. Masterfully combining the results of years of teaching microeconomics at Harvard University, Andreu Mas-Colell, Michael Whinston, and Jerry Green have filled that conspicuous vacancy with their groundbreaking text, Microeconomic Theory .
The authors set out to create a solid organizational foundation upon which to build the effective teaching tool for microeconomic theory. The result presents unprecedented depth of coverage in all the essential topics, while allowing professors to "tailor-make" their course to suit personal priorities and style. Topics such as noncooperative game theory, information economics, mechanism design, and general equilibrium under uncertainty receive the attention that reflects their stature within the discipline. The authors devote an entire section to game theory alone, making it "free-standing" to allow instructors to return to it throughout the course when convenient. Discussion is clear, accessible, and engaging, enabling the student to gradually acquire confidence as well as proficiency. Extensive exercises within each chapter help students to hone their skills, while the text's appendix of terms, fully cross-referenced throughout the previous five sections, offers an accessible guide
to the subject matter's terminology. Teachers of microeconomics need no longer rely upon scattered lecture notes to supplement their textbooks. Deftly written by three of the field's most influential scholars, Microeconomic Theory brings the readability, comprehensiveness, and versatility to the first-year graduate classroom that has long been missing.
The authors set out to create a solid organizational foundation upon which to build the effective teaching tool for microeconomic theory. The result presents unprecedented depth of coverage in all the essential topics, while allowing professors to "tailor-make" their course to suit personal priorities and style. Topics such as noncooperative game theory, information economics, mechanism design, and general equilibrium under uncertainty receive the attention that reflects their stature within the discipline. The authors devote an entire section to game theory alone, making it "free-standing" to allow instructors to return to it throughout the course when convenient. Discussion is clear, accessible, and engaging, enabling the student to gradually acquire confidence as well as proficiency. Extensive exercises within each chapter help students to hone their skills, while the text's appendix of terms, fully cross-referenced throughout the previous five sections, offers an accessible guide
to the subject matter's terminology. Teachers of microeconomics need no longer rely upon scattered lecture notes to supplement their textbooks. Deftly written by three of the field's most influential scholars, Microeconomic Theory brings the readability, comprehensiveness, and versatility to the first-year graduate classroom that has long been missing.
1008 pages, Hardcover
First published June 1, 1995
79 people are currently reading
1190 people want to read
About the author
Andreu Mas-Colell
19 books23 followers(form personal webpage)
Andreu Mas-Colell is Professor of Economics (Catedrático) at the Universitat Pompeu Fabra, Barcelona, Spain (currently on leave). Formerly he was Professor of Economics at Harvard University (1981-96), Professor of Economics and Mathematics at the University of California, Berkeley (1972-80) and Chairman of the Barcelona Graduate School of Economics (2006-2010). He holds Honoris Causa Doctorates from the universities of Alacant, Toulouse, HEC (Paris) and Universidad Nacional del Sur (Argentina). He has received the Rey Juan Carlos I Prize in Economics (1988), the Pascual Madoz (National Research Prize), (2006) and the Premio Fundación BBVA Fronteras del Conocimiento en Economía, Finanzas y Gestión de Empresas -shared with H. Sonnenschein- (2009). He has served as main Editor of the Journal of Mathematical Economics (1985-88), and of Econometrica (1988-92).
Professor Mas-Colell is a Fellow of the Econometric Society and was its President in 1993. In 1997 he was elected Foreign Associate to the US National Academy of Sciences and Foreign Honorary Member of the American Economic Association. He has been a Sloan Fellow (1978-1980) and Guggenheim Fellow (1985-1986). Also from 1999 to 2005 he was a member of the Executive Committee of the International Economic Association. In the year 2006 he served as President of the European Economic Association. From 2000 to 2003 he was Minister for Universities and Research of the Government of Catalonia and President of the Advisory Scientific Committee of Telefónica Investigación y Desarrollo (2005-2008). He has been General Secretary of the European Research Council from July 2009 to August 2010. At present he is Minister of Economy and Knowledge of the Government of Catalonia (from December 2010).
A. Mas-Colell has written some 100 research papers on subjects ranging from abstract general equilibrium theory and the structure of financial markets to pricing policy for public firms. He is the author of The Theory of General Economic Equilibrium: A Differentiable Approach (Cambridge University Press, 1985) and co-author with M. Whinston and J. Green, of the graduate textbook Microeconomic Theory (Oxford University Press, 1994).
Andreu Mas-Colell is Professor of Economics (Catedrático) at the Universitat Pompeu Fabra, Barcelona, Spain (currently on leave). Formerly he was Professor of Economics at Harvard University (1981-96), Professor of Economics and Mathematics at the University of California, Berkeley (1972-80) and Chairman of the Barcelona Graduate School of Economics (2006-2010). He holds Honoris Causa Doctorates from the universities of Alacant, Toulouse, HEC (Paris) and Universidad Nacional del Sur (Argentina). He has received the Rey Juan Carlos I Prize in Economics (1988), the Pascual Madoz (National Research Prize), (2006) and the Premio Fundación BBVA Fronteras del Conocimiento en Economía, Finanzas y Gestión de Empresas -shared with H. Sonnenschein- (2009). He has served as main Editor of the Journal of Mathematical Economics (1985-88), and of Econometrica (1988-92).
Professor Mas-Colell is a Fellow of the Econometric Society and was its President in 1993. In 1997 he was elected Foreign Associate to the US National Academy of Sciences and Foreign Honorary Member of the American Economic Association. He has been a Sloan Fellow (1978-1980) and Guggenheim Fellow (1985-1986). Also from 1999 to 2005 he was a member of the Executive Committee of the International Economic Association. In the year 2006 he served as President of the European Economic Association. From 2000 to 2003 he was Minister for Universities and Research of the Government of Catalonia and President of the Advisory Scientific Committee of Telefónica Investigación y Desarrollo (2005-2008). He has been General Secretary of the European Research Council from July 2009 to August 2010. At present he is Minister of Economy and Knowledge of the Government of Catalonia (from December 2010).
A. Mas-Colell has written some 100 research papers on subjects ranging from abstract general equilibrium theory and the structure of financial markets to pricing policy for public firms. He is the author of The Theory of General Economic Equilibrium: A Differentiable Approach (Cambridge University Press, 1985) and co-author with M. Whinston and J. Green, of the graduate textbook Microeconomic Theory (Oxford University Press, 1994).
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Displaying 1 - 30 of 38 reviews
June 17, 2011
Mas-Colell is THE book for first-year graduate courses in Microeconomics. You'll find it on every economist's bookshelf, these days, but for the life of me I can't understand why. There's nothing new here that hasn't been done a thousand times and the book is so massive as to be useless as a portable reference.
February 4, 2020
Apesar da leitura atenta, não entendi quase nada! Teria sido melhor ter ido assistir o filme do Pele.
October 18, 2014
This is the most complete and rigorous Microeconomics text book I ever had seen in my life. During University times we covered here a lot of complicated issues in Industrial Organization. Our teachers had the good intention making a first approach in spanish to cover advanced topics containing, again, rigorous mathematics and geometric works.
Mass-Collell has the virtue to be so clear in maths without loss of proof and this makes of this book one of the best treaties in microeconomics. Maybe Reny is enought powerful but even not so arduous in geometry like this.
This book is intended for all kind of students with a certain base in mathematic and wanting to manage advanced Microeconomics. I guess any engineer could deal with it.
No intuition is needed because all is provided with Base an without complexities via Algebra, Calculus and and Geometry !! x )
Every time I need to make a hard and a solid review I go to Mass-Collell and I 've no doubt I will find a solid support for every issue !!
Mass-Collell has the virtue to be so clear in maths without loss of proof and this makes of this book one of the best treaties in microeconomics. Maybe Reny is enought powerful but even not so arduous in geometry like this.
This book is intended for all kind of students with a certain base in mathematic and wanting to manage advanced Microeconomics. I guess any engineer could deal with it.
No intuition is needed because all is provided with Base an without complexities via Algebra, Calculus and and Geometry !! x )
Every time I need to make a hard and a solid review I go to Mass-Collell and I 've no doubt I will find a solid support for every issue !!
February 13, 2010
Extremely technical and based around logical proofs of theory. You must learn to speak and read math as a language. If your idea of fun is spending two or more hours on one or two proofs regarding the weak axiom of revealed preferences and the uncompensated law of demand, then I highly recommend this book to you.
May 17, 2014
Helped me a lot. Loved it.
April 17, 2008
My relationship with this book is very much in the love-hate category.
The bad:
The problems in the text are among the most difficult I've ever encountered. They're classified by difficulty A, B, & C, but even the A problems are often challenging and the C problems are practically impossible to understand--it's no surprise that the solutions manual to this text is one of the most sought-after items in the econ grad student community. I had one of these, and am ashamed to admit that, even with its help, many of the C problems were still complete mysteries to me.
The notation used throughout the text gets increasingly complicated as the book becomes more and more technical in nature.
Constant use of such phrases as "It's straightforward to see that..." and "And the result follows immediately", when the results don't follow immediately and it's not straightforward to see anything!
The good:
This book has basically everything under the sun that a graduate student in microeconomics could ever possibly want to know. No book is more comprehensive in scope--both breadth and depth are impressive.
The bad:
The problems in the text are among the most difficult I've ever encountered. They're classified by difficulty A, B, & C, but even the A problems are often challenging and the C problems are practically impossible to understand--it's no surprise that the solutions manual to this text is one of the most sought-after items in the econ grad student community. I had one of these, and am ashamed to admit that, even with its help, many of the C problems were still complete mysteries to me.
The notation used throughout the text gets increasingly complicated as the book becomes more and more technical in nature.
Constant use of such phrases as "It's straightforward to see that..." and "And the result follows immediately", when the results don't follow immediately and it's not straightforward to see anything!
The good:
This book has basically everything under the sun that a graduate student in microeconomics could ever possibly want to know. No book is more comprehensive in scope--both breadth and depth are impressive.
June 20, 2012
This is the standard reference textbook in advanced microeconomics (graduate level). It covers all you need in graduate school. Nowadays economics is pretty mathematical, so you must have a good background in calculus - the mathematical appendix will give you the tools you need, but it is going to be impenetrable if you don't have a solid quantitative training. So this book is not suited to self study (unless you are extremely dedicated).
Ideally you would tackle all of the exercises - so good to have also Solutions Manual For Microeconomic Theory: Mas Colell, Whinston, And Green handy.
Ideally you would tackle all of the exercises - so good to have also Solutions Manual For Microeconomic Theory: Mas Colell, Whinston, And Green handy.
May 7, 2020
Don't expect this graduate textbook to fall out of fashion any time soon. It is rigorous in its treatment of microeconomic principles and key results, and provides some alternative views on areas still debated among working microeconomic theorists such as the pros and cons of the expected utility representation of decision making under uncertainty, or issues involved with general equilibrium theory (see: the Sonnenschein-Mantel-Debrue theorem).
While it lacks in some areas (for instance its rather short treatment of game theory, or the absence of the increasingly common tool of monotone comparative statics), this can be excused given the almost 1000 pages of material it manages to span. If it's a more in-depth book on, say, game theory, there are textbooks devoted to that (e.g. Fudenberg and Tirole).
If, like me, you endured the first year of a PhD program and lived to tell, you probably already know why this is a must have around the office, either to regularly brush up and rework an exercise for practice, or to maybe mine for material as an instructor.
While it lacks in some areas (for instance its rather short treatment of game theory, or the absence of the increasingly common tool of monotone comparative statics), this can be excused given the almost 1000 pages of material it manages to span. If it's a more in-depth book on, say, game theory, there are textbooks devoted to that (e.g. Fudenberg and Tirole).
If, like me, you endured the first year of a PhD program and lived to tell, you probably already know why this is a must have around the office, either to regularly brush up and rework an exercise for practice, or to maybe mine for material as an instructor.
April 2, 2024
Me hizo llorar que mi ex, también lo amo mucho. Gran libro.
May 23, 2020
Hands down the best graduate-level microeconomic theory book out there. The authors have a gift of explaining mathematical economics in an intuitive and reader-friendly way. I read the whole book at least 3 times during my MS and PhD, and it's always my to-go resource for any microeconomic concept. It is considered by many, and myself, the bible of microeconomics... and in many ways, it is! Even though the whole book should be required reading by any Econ grad student, the first 7 chapters are literally the best collection of the foundation of consumer theory. I can keep raving about this book, but you get the point. At this point, I should say that, coming into my MS I lacked a lot of math (A LOT). This book lies in this sweet spot of challenging you mathematically without being an overkill. Thus, even if, on first sight it might look tough to some, I would encourage you to take it on as your first Microeconomic theory book (it will likely remain as your last microeconomic theory book too - it's that good).
As if all this was not enough, there is a hidden gem in this book that many overlook. This gem is the book's Appendix chapters. If any incoming graduate student would ask me how he/she can best prepare for the PhD program, I would say go through the appendix of this book. It covers all the necessary mathematical concepts that a graduate student will need to go through not just this book but any first-year graduate course. It certainly even tops Krishna's "Auction Theory" book's Appendix (another great mathematical resource).
The only part which is not that amazing (still pretty good though) is game theory. For deeper insights into that area you should read Gibbons-"Game Theory for Applied Economists" (very introductory), Rubinstein-"A Course in Game Theory" (good level), Fudenberg & Tirole (advanced).
As if all this was not enough, there is a hidden gem in this book that many overlook. This gem is the book's Appendix chapters. If any incoming graduate student would ask me how he/she can best prepare for the PhD program, I would say go through the appendix of this book. It covers all the necessary mathematical concepts that a graduate student will need to go through not just this book but any first-year graduate course. It certainly even tops Krishna's "Auction Theory" book's Appendix (another great mathematical resource).
The only part which is not that amazing (still pretty good though) is game theory. For deeper insights into that area you should read Gibbons-"Game Theory for Applied Economists" (very introductory), Rubinstein-"A Course in Game Theory" (good level), Fudenberg & Tirole (advanced).
May 2, 2008
This book is both informative and interesting. Never did I suspect that convexity was a defining characteristic of our preferences.
May 17, 2013
Struggling, but helpful.
Painful, but benefit.
Hate, but love more.
Painful, but benefit.
Hate, but love more.
March 24, 2021
Made me cry, and not in a good way.
August 26, 2023
A true classic, not so entertaining tho.
April 15, 2024
Nightmare for a rational person.
December 31, 2022
Made it to 52!!!!!!!
Technically, I did not read this whole book (although I read about a 3rd of it throughout the semester), but I read a 250 page commentary of this book written by another economist that was turned into a book but isn't listed on good reads:(https://nmiller.web.illinois.edu/note...). I read this for my PhD micro class this fall in order to seal in the material and I found it really helpful as an intersection to economic intuition and mathematical explanations.
This is a textbook, so I could list 100 things I learned, but I'll go with these few:
1. I never really thought of Pareto optimality as efficiency before, more as a limitation/equilibrium, but it ends up being synonymous with equilibrium (at least neoclassically) and the first welfare theorem.
2. Convexity (and convex optimization) can basically be used to solve any problem - be it which jam should I buy at the store or training a Large Language Model
3. All of neoclassical economics can be simplified down to (roughly) 4 priniciples.
a. Economic actors have preferences over allocations of the world’s resources. These preferences remain stable, at least over the period of time under study.
b. There are constraints placed on the allocations that a person can achieve by such things as wealth, physical availability, and social/political institutions.
c. Given the limits in (b), people choose the allocation that they most prefer.
d.Changes in the allocations people choose are due to changes in the limits on available resources in (b).
That's it! no need to ever take micro - unless you want to suffer through some vicious proofs.
Technically, I did not read this whole book (although I read about a 3rd of it throughout the semester), but I read a 250 page commentary of this book written by another economist that was turned into a book but isn't listed on good reads:(https://nmiller.web.illinois.edu/note...). I read this for my PhD micro class this fall in order to seal in the material and I found it really helpful as an intersection to economic intuition and mathematical explanations.
This is a textbook, so I could list 100 things I learned, but I'll go with these few:
1. I never really thought of Pareto optimality as efficiency before, more as a limitation/equilibrium, but it ends up being synonymous with equilibrium (at least neoclassically) and the first welfare theorem.
2. Convexity (and convex optimization) can basically be used to solve any problem - be it which jam should I buy at the store or training a Large Language Model
3. All of neoclassical economics can be simplified down to (roughly) 4 priniciples.
a. Economic actors have preferences over allocations of the world’s resources. These preferences remain stable, at least over the period of time under study.
b. There are constraints placed on the allocations that a person can achieve by such things as wealth, physical availability, and social/political institutions.
c. Given the limits in (b), people choose the allocation that they most prefer.
d.Changes in the allocations people choose are due to changes in the limits on available resources in (b).
That's it! no need to ever take micro - unless you want to suffer through some vicious proofs.
June 17, 2020
One of the best resources if you're intending to take Graduate Microeconomics, or are interested in Microeconomics in general. The book presents difficult-to-grasp ideas in a simple and clear manner, and provides key intuitions behind these ideas, making it that much easier for the reader to follow and understand.
I especially enjoy the way the authors construct the proof of a proposition. It is as though they are cooking a dish - first, they introduce the ingredients (notations, assumptions and definitions) and begin "making" the key components to the dish (intermittent steps and lemmas), and bring them together at the end.
I especially enjoy the way the authors construct the proof of a proposition. It is as though they are cooking a dish - first, they introduce the ingredients (notations, assumptions and definitions) and begin "making" the key components to the dish (intermittent steps and lemmas), and bring them together at the end.
June 25, 2025
دکتر وصال میگفت بایبل خرد هست این. فصل های انتهایی در مورد طراحی بازار رو نخوندیم.
کتاب واقعا چرت. بخشهایی از کتاب از نظرم از قصد طوری نوشته شدن که نشه فهمید. هیچ لذتی حدودا از جلو رفتن در کتاب نبردم. مس کالل از نظرم یک ذهن ریاضی زده بیمار داره که واقعا اعصاب من رو خرد کرد. امیدوارم فردی همت کنه و تکست بهتری بنویسه.
کتاب واقعا چرت. بخشهایی از کتاب از نظرم از قصد طوری نوشته شدن که نشه فهمید. هیچ لذتی حدودا از جلو رفتن در کتاب نبردم. مس کالل از نظرم یک ذهن ریاضی زده بیمار داره که واقعا اعصاب من رو خرد کرد. امیدوارم فردی همت کنه و تکست بهتری بنویسه.
January 22, 2024
it is at the same time fundamental as well as extremely difficult.
There are many other books saying the same things in a more comprehensive way. Before you choose this book make sure that you absolutely need it and ypu know advanced math in a high level.
There are many other books saying the same things in a more comprehensive way. Before you choose this book make sure that you absolutely need it and ypu know advanced math in a high level.
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June 27, 2019this is just test .. to be deleted
October 28, 2022
полная жесть
September 11, 2025
After reading this book, my first thought was, 'Okay, this might be why our country's economy struggles to advance. The level of math is just not mathing.
December 26, 2025
not a banger
April 28, 2020
Powerful and deep theoretical book on microeconomics and decision making.
Read
July 31, 2025If you want to learn everything you're taught in a first year PhD microeconomics sequence this is the book. I don't know why you'd want to learn that, but this is the book to use if you do. God willing I never teach a class that uses this book. Mostly prefer this over Kreps because A) I'm not a theory guy and B) My PDF of Kreps is formatted weird. I'm so glad I'm done with classes for the year, now just have prelims.
Update: I passed prelims, in no small part thanks to this book.
Update: I passed prelims, in no small part thanks to this book.
September 9, 2007
A canonical text on microeconomic theory.
June 19, 2008
Easily the most readable of my econ textbooks and also the most comprehensive. Don't even consider it unless you want to study graduate economics, though.
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June 10, 2008One year ago, when i bought it, i cannot believe that i could finish it.~~~Now i want to say,it is a Bible for the first year Phd student in Economy(finance,business...) Good, very good~~~
October 4, 2008
Read this while I was in Korea. Really great mathematical introduction to formal Microecon.
July 27, 2010
Love microeconomics
Displaying 1 - 30 of 38 reviews