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This book provides a concise treatment of the core concepts of microeconomic theory at the intermediate level with calculus integrated into the text. The authors, Roberto Serrano and Allan M. Feldman, start with consumer theory and then discuss preferences and utility, budget constraints, the consumer's optimal choice, demand and the consumer's choices about labor and savings. They next turn to welfare economics: when is one policy better for society than another? Following are chapters presenting the theory of the firm and profit maximization in several alternative and partial equilibrium models of competitive markets, monopoly markets and duopoly markets. The authors then provide general equilibrium models of exchange and production and analyze market failures created by externalities, public goods and asymmetric information. Finally, they offer introductory treatments of decision theory under uncertainty and game theory. Graphic analysis is presented where necessary but distractions are avoided. Table of Contents Preface 1. Introduction 2. Preferences and utility 3. The budget constraint and the consumer's optimal choice 4. Demand functions 5. Supply functions for labor and savings 6. Welfare economics i: the one-person case 7. Welfare economics ii: the many-person case 8. Theory of the firm i: the single-input model 9. Theory of the firm ii: the long run, multiple-input, single-output model 10. Theory of the firm iii: the short run, multiple-input, single-output model 11. Perfectly competitive markets 12. Monopoly and monopolistic competition 13. Duopoly 14. Game theory 15. An exchange economy 16. A production economy 17. Externalities 18. Public goods 19. Uncertainty and expected utility 20. Uncertainty and asymmetric information.