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Stressing both intuition and analytical precision, this classic text uses a calculus-based approach to present complete, up-to-date coverage of all key microeconomic topics. The seventh edition is suitable for use in a more rigorous first intermediate microeconomics course or in a first-year graduate course. Features: * The use of calculus as an analytical tool stresses analytical precision as well as logic and intuition. * An early introduction to efficiency concepts and their relation to competitive markets helps clarify the discussion of imperfect markets that follows. * The integration of modern theories of information throughout the text includes a complete chapter on information and competitive equilibrium. * Outstanding coverage includes such chapters as Demand Relationships between Goods (Chapter 6) and Game Theory Models of Imperfect Competition (Chapter 20). * Numerous solved numerical examples are integrated throughout to give students a clear understanding of theory and prepare them for the end-of-chapter problems. Extensive end-of-chapter problems are divided into basic "Problems" that apply chapter concepts and "Extensions" that incorporate additional theory using empirical evidence. This organization presents easier, mathematical problems before engaging students with more theoretical, analytical ones. New to this edition: * More game theory has been incorporated in Chapters 10 and 20. * "Extensions" which take the theory and apply it have been expanded, giving more depth and details. * Chapters 8 and 9 on uncertainty have been heavily revised to make them easier to understand and to sharpen and clarify analysis. * 50% of the material on Externalities (environmental issues) in Chapter 24 has been reworked. * The author has made a serious effort to sharpen and clarify the discussions of theory.
- Sales Rank: #2849521 in Books
- Published on: 1998
- Original language: English
- Number of items: 1
- Dimensions: 9.75" h x 7.75" w x 1.50" l,
- Binding: Textbook Binding
- 825 pages
Most helpful customer reviews
67 of 69 people found the following review helpful.
The best!
By Dr. Martingale
At the first glance, this book is elegantly laidout, but mathematically "inadequate". However when you really read it, you find the author is a master in explaining very complicated concepts in an easy way. I am a PhD student, but I learned "economics" from this book. The textbook by Mas-Colell that our professor chose was a disaster. That book was heavy, stinky, and the authors did a bad job in explaining even the simplest ideas. I decided to use the Nicholson's book and understand everything and (only) this book made me love microeconomics.
Lots of economists like to show off their math skills and like to show what a "rocket science" their field (economics) is by applying weird notations and "bad" English. Therefore, they intentionally make simple (maybe sometimes profound) ideas appear as complicate as they can be. Once you waste 1 day's time and undertsand the idea, you yell to yourself, "what a simple thing!". My experience is, spending 3 day's on Mas-Collel's book, I understand a thing, but it only requires 30 minutes if you use Nicholson's book.
I was a physicist before persuing economics. In physics, we regard a good scholar (or someone who really understands what he is talking about) as someone who can explain difficult stuff in easy ways. Otherwise we dont think too much of him/her. In this sense, Nicholson (maybe Varian too) is truly a scientist, a great scholarly master. I am using these great terms because I am very grateful to the author since I truly learned stuff from it and it saved me from the great disappointment in microeconomics inflicted by Mas-Collel's book.
9 of 11 people found the following review helpful.
Very good guidance to Microeconomic Principle
By Veronica Lee
Reading through this book, I could understand the mathematic tools of microeconomics. The explanation is so clear that the average students who studied the principle of economics can understand what the author tried to explain. Very nice book. I recommend this book to every student who wants to understand microeconomics by mathematic methods.
4 of 5 people found the following review helpful.
An everyday book for an economist
By Gerardo Villoslado
When you joined the economics school, and later on, you realized that there are books that you'll use it forever. One of them is Nicholson; used in Canada, US, England, Mexico, etc. is a book that will build up mathematic economists with strong theoretic background. I really enjoyed this book and this course. Thumb up for the book. Thumb down for the price.
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