Microeconomic Theory: Basic Principles and Extensions / Edition 7

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Offering the most cutting-edge coverage available, the 10th edition of the market-leading MICROECONOMIC THEORY: BASIC PRINCIPLES AND EXTENSIONS delivers a text that is rigorous yet accessible, accurate in theory yet practical in application, thorough yet concise. Now at a more succinct 19 chapters, this tried-and-true, widely popular text is known as the "bible of microeconomics," offering the most clear and accurate presentation of advanced microeconomic concepts. For the new edition, proven author and economic authority Walter Nicholson is joined by new co-author Chris Snyder, a professor of economics at Dartmouth College. These highly respected economists draw from their wealth of experience in the classroom and the marketplace, giving the book a practical, real-world perspective. Taking a calculus-based approach, MICROECONOMIC THEORY provides an ideal level of mathematical rigor for upper level undergraduate students and beginning graduate students. Extremely reader-friendly, the book is designed to help students truly understand and apply economic models as it enables them to work directly with theoretical tools, real-world applications, and the latest developments in the study of microeconomics. Insightful graphic presentations help visual learners see the connections between the calculus and the algebra/geometry of the same material. In addition, end-of-chapter problems are now presented in two tiers: Simple numerical/mathematical exercises, which build student intuition, are followed by more analytical, theoretical, and complex problems. Unlike other, more theoretical texts, MICROECONOMIC THEORY presents theory in an accessible way as well as illustrates how it appliesin the real world.
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Product Details

  • ISBN-13: 9780030244742
  • Publisher: Dryden Press FL
  • Publication date: 11/28/1997
  • Series: Dryden Press Series in Economics
  • Edition description: Older Edition
  • Edition number: 7
  • Pages: 821
  • Product dimensions: 7.72 (w) x 9.38 (h) x 1.35 (d)

Meet the Author

Christopher Snyder is a Professor of Economics at Dartmouth College. He received his B.A. in Economics and Mathematics from Fordham University, and his Ph.D. in Economics from the Massachusetts Institute of Technology. Before his recent move to Dartmouth he taught at George Washington University for over a decade. His primary research interest is the strategic interaction among firms. He has studied markets for cable television, movies, and beer, among others, although as the father of three daughters he finds little time to participate in these markets as a consumer. Professor Snyder is President of the Industrial Organization Society and Associate Editor of the International Journal of Industrial Organization and Review of Industrial Organization. His wife Maura also teaches economics at Dartmouth.
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Table of Contents

Pt. I Introduction 1
Ch. 1 Economic Models 3
Ch. 2 The Mathematics of Optimization 23
Pt. II Choice and Demand 67
Ch. 3 Preferences and Utility 69
Ch. 4 Utility Maximization and Choice 98
Ch. 5 Income and Substitution Effects 125
Ch. 6 Demand Relationships among Goods 164
Ch. 7 Market Demand and Elasticity 184
Pt. III Choice under Uncertainty 209
Ch. 8 Choice in Uncertain Situations: Expected Utility and Risk Aversion 211
Ch. 9 The Economics of Information 242
Ch. 10 Game Theory and Strategic Equilibrium 265
Pt. IV Production and Supply 287
Ch. 11 Production Functions 289
Ch. 12 Costs 322
Ch. 13 Profit Maximization and Supply 363
Pt. V Perfect Competition 397
Ch. 14 The Partial Equilibrium Competitive Model 399
Ch. 15 Applied Competitive Analysis 438
Ch. 16 General Competitive Equilibrium 459
Ch. 17 The Efficiency of Perfect Competition 501
Pt. VI Models of Imperfect Competition 543
Ch. 18 Models of Monopoly 545
Ch. 19 Traditional Models of Imperfect Competition 580
Ch. 20 Game Theory Models of Pricing 610
Pt. VII Pricing in Input Markets 633
Ch. 21 Firms' Demands for Inputs 635
Ch. 22 Labor Supply 666
Ch. 23 Capital 690
Pt. VIII Limits of the Market 727
Ch. 24 Externalities and Public Goods 729
Ch. 25 Public Choice Theory 757
Brief Answers to Queries 781
Solutions to Odd-Numbered Problems 791
Glossary of Frequently used Terms 801
Name Index 809
Subject Index 813
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  • Anonymous

    Posted August 5, 2003

    The Best!

    The author is truly a master in explaining difficult concepts. He does not try to scare away people by using esoteric notations, 'bad' English (some economic books are unnecessarily lengthy, wordy). The author uses math in the way most people understand (calculus). Unlike books like the one by Mas-Collel, Nicholson does not try to show that 'economics is rocket science that few people understand', instead, he is trying to lead you to the interesting world of economics. I used this book as my main study tool for my PhD course. Our professor chose Mas-Collel's heavy book, but I found it was a great waste of my time and money. I almost lost my interest in economics by reading that book. Nicholson's book saved my career interest and I truly think he really understands the 'stuff'. The is a masterpiece.

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