Theory and Application of Intermediate Microeconomics, International Edition (with InfoApps 2-Semest 11e
ISBN-13: 9780324599497 / ISBN-10: 0324599498
The Eleventh Edition of THEORY AND APPLICATION OF INTERMEDIATE MICROECONOMICS, INTERNATIONAL EDITION by Walter Nicholson of Amherst College and Christopher Snyder of Dartmouth College, provides an exceptionally clear and concise introduction to the economics of markets, with a managerial focus and using an algebraic approach. The authors have provided a complete range of highly relevant applications and appealing, current examples, filling this edition with strong examples and activities that engage students' interest and encourage them to learn by doing.
- The text features a full complement of integrated pedagogical features to enhance student learning, including review checklists, an end-of-text glossary, solutions to odd-numbered problems, review questions, questions at the end of applications, numerical examples of major concepts, chapter summaries, and the new "Policy Challenges" features.
- MicroQuizzes within the chapters reinforce learning as key concepts are presented, enabling students to better absorb and retain the information, while end-of-chapter problems provide a more thorough review of the material to help students succeed in the course.
- In addition to a strong managerial approach reflected throughout the text, the authors maintain an algebra focus in all mathematical presentations, making the material manageable for students without a strong foundation in calculus.
- InfoTrac® College Edition has been integrated into the text through margin notes with keywords related to the chapter topics, giving students access to a database of over two million articles from hundreds of reliable scholarly and popular publications, including magazines, journals, encyclopedias, and newsletters.
- Students receive access to Economic Applications resources including EconDebate Online, EconNews Online, EconLinks Online, and EconData Online, giving them a wealth of useful information and interactive learning tools to complement the text and help them succeed in class.
Part 1: INTRODUCTION.
1. Economic Models.
Appendix: Mathematics Used In Microeconomics.
Part 2: DEMAND.
2. Utility and Choice.
3. Demand Curves.
Part 3: UNCERTAINTY AND STRATEGY.
4. Uncertainty and Expected Utility.
5. Game Theory.
Part 4: PRODUCTION, COSTS, AND SUPPLY.
8. Profit Maximization and Supply.
Part 5: PERFECT COMPETITION.
9. Perfect Competition in a Single Market.
10. General Equilibrium and Welfare.
Part 6: MARKET POWER.
12. Imperfect Competition.
Part 7: INPUT MARKETS.
13. Pricing in Input Markets.
14. Capital and Time.
Part 8: ADDITIONAL TOPICS
15. Asymmetric Information.
16. Public Goods and Externalities.
17. Behavioral Economics.
- The authors have added or revised many applications to give them a strong managerial focus while illustrating key economic concepts in the context of current high-interest topics, such as the high-definition standards war and moral hazard in the financial crisis. Other applications include health care, the value of cell phones, a comparison of SUVs vs. minivans, insurance, Nash equilibrium, sports strategies, and terrorism.
- New "Policy Challenges" features at the end of many applications challenge students to consider how new or existing policies relate to the topics being explored, providing a useful real-world focus.
- Several chapters have been condensed or combined for a more streamlined presentation and focused discussion, offering an excellent balance between thorough, effective coverage of essential microeconomics topics and an appealing, student-friendly format.
- A new chapter on behavioral economics provides a detailed introduction to this important topic, exploring the notion of price differentials that compensate for risk before covering finance-related issues such as diversifiable risk, risk premia, and options and hedging.
- Numerous new problems have been added.
Walter Nicholson is the Ward H. Patton Professor of Economics at Amherst College where he enjoys introducing students to strange kinds of things economists have tried to model. By combining law and economics, he found the perfect match between interesting economic theory and important social questions that he could use to encourage students to speak accurately about economics. Nicholson received his Ph.D. in economics from MIT and has been published in numerous journals such as the Monthly Labor Review, The Journal of Economic Perspectives, and The Review of Economics and Statistics.
Christopher Snyder specializes in the fields of industrial organization, microeconomic theory, and law and economics. He received his Ph.D. in Economics from the Massachusetts Institute of Technology in 1994 before joining the Economics Department at Dartmouth in 2005.He has also taught at George Washington University and has held visiting positions at M.I.T. and the University of Chicago.