Book Description

This well-received book is a market leader in the field of Microeconomics, and demonstrates how microeconomics can be used as a tool for both managerial and public-policy decision making. Clear writing style and graphs compliment the integrated use of current, real world industry examples throughout the book.It emphasizes relevance and application to cover modern topics—such as Game Theory and economics of information—and examples—such as United States v. Microsoft, pricing cellular phone service, and Internet auctions. Coverage of other up-to-date issues includes supply and demand, cost, consumer behavior, individual and market demand, market failure, and the role of government.For individuals with an interest in economics, microeconomic theory, and price theory. ... Read more

Reviews (16)

Very good, but fluffy
This is a very well-written introduction to microeconomic theory, covering all the major topics you would expect to cover in a microecon course. However, I can attest to the fact that it is overly wordy, with an unnecessary number of examples (perhaps for the benefit of those who don't necessarily understand the subject well). I would have preferred to see a more mathematical treatment of the subject, something more than the elementary calculus used in this book. And, I don't believe it would be too difficult to summarize everything important that was said in this book in about 100 pages.

Microecon is not exactly the most exciting subject
I've used this book in an intermediate micro course at Berkeley, and I have to say that this is one of the best written economics books I've read. One of its greatest advantages is the clarity of explanation and abundance of visual aid such as graphs and tables throughout the book to support the material. The graphs get a bit complicated towards the last chapters, but that's only because the material that needs to be illustrated through those graphs gets complicated as well.

Second, even though I've had extensive economics background, the book could be suitable for beginners. The first two chapters give a concise overview of a basic Econ 1 course, explaining the basics of supply and demand, market structure, etc. - everything a person with little economics background needs to know to be able to understand this book. However, if you find this book to simple for you, keep in mind that Prentice Hall publishes it as "Intermediate Economics" - for use in 2nd or 3rd year in an undergraduate economics program.

Unlike many other econ textbooks I've encountered, this book is neither math-heavy nor theory-heavy - it has a good balance of theoretical information coupled with enough mathematical examples to get the message across. However, many students (and some reviewers on this website) find that there aren't enough examples and exercises (with answers) in the book - for that I'd HIGHLY recommend getting the Student Study Guide. It quickly summarizes each chapter (good for emergency test/quiz studying) and provides plenty of sample problems as it summarizes the concepts. It also includes a quick chapter quiz and gives the solutions to all problems found in the Study Guide.

Also unlike most outdated econ textbooks today, this one includes excellent chapters on Game Theory and pricing strategies. I've heard from a few business majors here at Berkeley that they're encouraged to read those two chapters as good examples of how these concepts apply to business and economics. The book features many "Sample Boxes" - small paragraphs on how the current topic of discussion has been applied in the real world. This helps understand that economics is a real science (in a sense that it can produce theories that are testable in the real world) and has some useful applications.

Overall, this is a very good economics textbook for intermediate microeconomics. The book alone deserves 4 stars, but coupled with the study guide, it's definitely a 5.

A good book for intermediate level students
Organization of the books is good. Topics are discussed with enough clarity and graphs and illustrations are descriing enough. The level of algebra and math is at an intermediate undergraduate level (economics major). I think it is a complete book for anybody who wants to have an understanding of microeconomics. I am a Ph.D. student of economics now and if I am going to teach an undergrad micro course, I will certainly choose this textbook.

Its clearly written, however laughable as an inter. Text
The book is clearly written, however, I found that it is to simple and somewhat weak as a intermediate level text. I agree with most of the other comments that it would be more suitable as an entry level Economics text. This book would probably be better suited for students who are buisness or non-economics majors taking the intermediate course.

translated from klingon?
Perhaps one of the worst written textbooks of all time. The convoluted sentences contain multiple sub clauses and prepositional phrases. The graphs are inadequately labeled and do more to confuse than clarify. Couldn't the publisher at least have hired a Wall Street Journal editor to give it a rewrite? They might as well have printed this in ancient Sumerian. The accompanying study guide reiterates the key topics in plain English, but contains typos. Politically speaking, the book displays a strong libertarian, anti-regulation, anti-worker bias. ... Read more

Book Description

A comprehensive state-of-the-art text on microeconometric methods. ... Read more

Reviews (4)

Simply a great text..
If you are frustrated with the presentation in Greene and other econometric textbooks, then you may want to take a look at this book. It's the anti-Greene, full of clear, well-motivated presentations. What I love about this book is that the author clearly intended for it to be used by students -- even though you can find all the formal results that you would expect from an advanced econometrics text, there is so much intuition that can't be found anywhere else (at least in one book). If you plan on doing applied research, get this book!

Simply the best in its field.
Wooldridge fills an enormous gap in the market between applied manuals (which do not deliver enough theory for an academically serious audience), and theory books (that leave you scratching your head as to how one is supposed to implement their results). This is a wonderful book for economic practitioners who want enough theoretical knowledge to support their applied work, but who don't want the theory obscuring the practical issues. An econometric theoretician might find another work more satisfying.

Five stars just because of the other books.
I have bought this book to have a comprehensive intermediate-advanced text on panel data and other approaches. The book is good, but no tables, no datasets, no figures!
Compared to other books on the topic, it is a very understandable book, but only COMPARED to those books. You do not have to be a Mathematician to understand it, but you must be at least intermediate in econometrics (after Gujarati or an intermediate course).

A Gold Mine of Microeconometric Methods
If you are interested in learning the latest microeconometric methods, this book will save you from long hours of sorting through the literature. Wooldridge has brought together in a well organized, clear and concise manner the state of the art techniques in microeconometrics. His book covers all of the core issues involving single equation and simultaneous equation models. The most important aspects of M-estimation, MLE, GMM and minimum distance estimation are carefully presented. Those interested in limited dependent and qualitative variables will find that this goes well beyond Maddala's classic book. In addition to new developments in logit, probit and tobit, Wooldridge explains sample selection, attrition and stratified sampling. He covers research by Heckman et al on estimating average treatment effects using instrumental variables. I found his material on negative binomial regression, binomial regression, exponential regression and fractional logit regression to be especially interesting. He concludes his book with a nice summary of research on duration analysis. Throughout the book Wooldridge shows how to handle panel data with the various techniques he covers. Anyone doing applied work with cross section or panel data runs the risk of being left behind if they fail to read this new classic of microeconometrics. ... Read more

Book Description

Offering a unique blend of solid theoretical content and student accessibility, this text: 1) covers all the basics of microeconomics, 2) gives student a clear idea of how economists think about the world, 3) stresses the key concepts in economics, and 4) is extremely rich in intriguing applications that convey the prevalence of economics in everyday life. By applying economics to phenomenon that readers are familiar with and interested in, this book demonstrates like no other text how economic analysis can be applied to virtually anything of interest, thus helping students develop true economic intuition. Additional student-oriented features include a unique active-learning format, an emphasis on developing economic analysis skills, and an outstanding visual program for exhibits and graphs. ... Read more

Book Description

In writing this textbook, Mankiw has tried to put himself in the position of someone seeing economics for the first time. The author's conversational writing style is superb for presenting the politics and science of economic theories to tomorrow's decision-makers.Because Mankiw wrote it for the students, the book stands out among all other principles texts by encouraging students to apply an economic way of thinking in their daily lives.Receiving such a praise as "perhaps the best ever" textbook in economic principles, it's no wonder Mankiw's prize project has quickly become one of the most successful books ever to be published in the college marketplace. ... Read more

Reviews (2)

An outstanding introduction to economics.
I don't normally bother reviewing textbooks, but this one was so good I felt compelled to. I had absolutely no background in economics, but this book explained the concepts and the principles underlying them so clearly that I picked the topic up very easily. Not only is it very clear, but it's very well-written and presents its information in a creative and sometimes even entertaining way.

Even though I'm not going to be taking Macroeconomics in college at all, I'm still planning to buys Mankiw's Macroeconomics book, too. His microeconomics book has made me want to learn more about a topic I previously had no interest in!

Principles of Microeconomics
Mankiw (economics, Harvard U.) presents an introduction to microeconics that is more devoted to applications and policy than to formal economic theory. Chapters cover fundamental tools of supply and demand, externalities, public goods, firms in competitive markets, monopoly, and labor markets. As is common with many economics textbooks there is little recognition of controversy within the field. A companion volume on macroeconomics is sold separately or included together with this text in a hardback volume. ... Read more

Book Description

This distinctive book features a running case study at the beginning and end of each chapter that explores the decision-making processes of managers within a hypothetical company. It creates a vivid, dynamic business setting that highlights microeconomic theory and the tools of quantitative analysis used in management decision-making. In addition, actual business examples from the popular press—including numerous international examples—are incorporated into the chapters to reinforce the connection between economic and real business situations.Chapter topics cover supply and demand, demand elasticity, demand estimation, forecasting, the theory and estimation of production, the theory and estimation of cost, competition and monopoly, monopolistic competition and oligopoly, special pricing practices, economic decision making in the 21st century, capital budgeting, and risk and uncertainty.For today's managers in government and industry. ... Read more

Book Description

These two highly-respected authors have revised this best-selling book to include more current, modern subject matter and events, while maintaining those features that have contributed to its great success. It continues to use stories, graphs, and equations and a unified and logical organization that make economic concepts easy-to-understand and relevant to all readers. Users of this book see the connection between growth, trade, comparative advantage the production possibilities frontier. Recent changes in the economy are highlighted so that readers can understand how these events actually affect investment decisions and policy. The 90s boom and the recent bust are examined.New issues such as the movements for and against globalization, trade agreements and barriers, the World Trade Organization, the enviroment, child labor, sovereignty, the impact of AIDs on developing economics are all explored in this new edition. This book continues to provide an excellent foundation in the scope and method of economics; demand, supply, and market equilibrium; measuring national output and national income; long-run and short-run concerns; aggregate expenditure and equilibrium output; the government and fiscal policy; the money supply and the Federal Reserve system; interest rates and output; inflation; the labor market and unemployment; macroeconomic issues and policy; the stock market and the economy; long-run growth; and open-economy macroeconomics.An excellent reference resource for those involved in fiscal decision-making policies, whether in government or in large, international firms. ... Read more

Reviews (5)

Great seller
Thank you.
This seller was very fast as far as delivery and the book was in great condition.

Principles of Macroeconomics
The book was pretty much cleaner than I expected!! All the deals went very smoothly, and I really like purchasing through Amazon.com already! Thanks for all the good deal!

Review of Macroeconomics by Case/Fair
The authors provide an understandable presentation of the dynamics of demand/supply, the price structure, equilibrium and concepts of elasticity. The data employed is current & this version is supported by the publisher in various prior versions , as well as, this successive version. The work has considerable technological support in the form of the CD Rom and various instructional materials.The authors provide a useful "News Analysis" to integrate current events into the text. This is very useful in providing background information for students. The problem sets are topical and challenging. There is a considerable discussion of international economics and transitional economies. Overall, the text can satisfy a wide range of student interests. i.e. Those students having a quantitative orientation will appreciate the considerable graphs throughout the text. Students having a more visual learning experience will enjoy the various news items throughout the text & the extensive discussion of basic definitions. The chapter summaries and WEB exercises are helpful in integrating the material & applying the various concepts using current technologies. This text should be employed for intensive renditions of introductory economics at the collegiate level.There is an appropriate amount of microeconomic coverage in the Principles of Macroeconomics, as well as, the more comprehensive Principles of Economics work. After having read this book, students should have a firm grasp of economics and the various data employed by industry. In addition, students will become more knowledgable on current events applicable to studies in this field. This work would provide very helpful background for further studies in Price Analysis and Econometrics (Mathematical Economics).

excellent economics text for beginners
I am teaching an Economics class at the beginning college level at a private business college. This book is one of the better business textbooks I have encountered. It provides real-life and simplistic examples to help students understand complex issues. I recommend it.

C. Le Fevre

Good integration of microeconomic and macroeconomic theory.
Most macroeconomic textbooks tends to talk mostly about macroeconomic theories only and ignore the microeconomics behind the theories. This book, however, manage to integrate both microeconomic and macroeconomic theories together in its presentation of economic issues. This is a good book since you are essentially learning microeconomics and macroeconomics together since this book treats both of these major areas in economic theory as one integrated area instead of separate areas as in most economic theory textbooks ... Read more

Book Description

Intermediate microeconomics is both fun and intellectually challenging in this new edition, written by the author of The Armchair Economist, the popular trade book that explains basic economics to the general public. The text provides an exceptionally friendly and application-rich presentation, combined with a rigorous and careful development of microeconomic theory. All of the standard topics of intermediate price theory are included, as well as innovative topics such as alternative normative criteria, efficient asset markets, contestable markets, antitrust law, human capital, and the demand for public goods. A unique unifying theme of social welfare is used with little higher-level mathematics. ... Read more

Reviews (5)

Excellent book for beginners
This is one of the best books I have ever read. Anyone who is just beginning with microeconomics, should start with this book. It is very simple and goes right to the point.

Very readable and challenging textbook
This is an excellent textbook for any intermediate level price theory or microeconomics course. The author is right when he says beginning students should find it easy to grasp and advanced students will find the material challenging and thought provoking. The portion devoted to a review of elementary topics is small, and I would not recommend this book as an introduction to economics. Any undergraduate who encounters this book should breathe a sigh of relief - it is definitely one of the better texts in the subject. Instructors looking for a good textbook would do well to choose this one.

The "study guide" that is sometimes packaged with the textbook is not entirely useful; the number of problems actually in the textbook should be more than sufficient. Overall, this is a great survey of price theory with Landsburg's signature examples and interesting applications.

I agree! Excellent textbook!
I recommend this book for some undergraduate student to take an intermediate microeconomics! Lucid explanation and some pictures are the finest.His another work, Armchair economist,is also nice. Randsburg did many good jobs!

Excellent text
I have only read two textbooks in my life that I would recommend to the public in general. This is one. If you have never studied economics, start here. Extremely readable. Note in particular the discussion on whether college should be outlawed (Chapter 9, "Knowledge and Information"), the tragic story of Treasury Bill #GS7-2-179-46-6606-1 (Chapter 17, "Allocating Goods over Time") and the Pigs-in-the-Box problem (Chapter 12, "Game Theory"). Don't succumb to the Nash equilibrium! Read Price Theory.

great!!
One of the best books on Price Theory. He really elucidates the subject matter. The questions given at the end of the chapters challenge you to the limit. ... Read more

Book Description

This book illustrates the central decision problems managers face and provides the economic analysis needed to guide these decisions. The authors believe that an effective managerial economics book must go beyond the "nuts and bolts" of economic analysis to show how these economic analysis techniques are used by practicing managers. ... Read more

Book Description

The Fifth Edition of Managerial Economics heralds a new era for this classic text. Carrying on the tradition established by Edwin Mansfield in the book's earlier editions, Bruce Allen, Neil Doherty, and Keith Weigelt—all of the University of Pennsylvania's Wharton School—have prepared an exciting revision that capitalizes on proven strengths while embracing new developments in the field. Retaining a hallmark of Managerial Economics, the authors include a wealth of cases and applications that consistently anchor the exposition in the real world of business decision making. New to the Fifth Edition is a greater focus on applied microeconomics, with two new chapters, one on auctions and another on the principal-agent problems of firms. These new chapters, numerous new cases and applications throughout the book, and an exciting new package of electronic ancillaries promise to make the Fifth Edition of Managerial Economics the best yet. ... Read more

Reviews (3)

Too little game theory and too expensive
I had heard good things about this book but was left frustrated. Given the march of game theory over the past 15 years or so, I would have expected this to underpin the book's very word - but not a bit of it! Despite a nice section on auctions, the author tries to emulate existing texts (including previous editions of his own book) and does not take into account current developments in microeconomic theory. My other gripe is the price of the book. I am still hunting for a suitable text.

Managerial Economics
This book has undergone a major revision since the 4th edition. The authors have done a good job of explaining basic economic principles and then applying them to the business world. New chapters on auctions and incentive schemes are both informative and timely. This is a must reading for those who think economic principles are just for the classroom. Not only do the authors show how the principles are applied (through examples from the business press), they also concisely explain them.

A valuable book for both practitioners and students.

Communication??
This book is not easy reading. Do economists live in another world? I read a paragraph to my wife, an English school teacher, and she said that it was very poor English. The author and the school were he teaches, is very prestigious. ... Read more

Book Description

Written in an informal colloquial style, this student-friendly principles of microeconomics textbook does not sacrifice intellectual depth in its quest for accessibility.The author's primary concern is to instill "economic sensibility" in the student.Colander emphasizes the intellectual and historical context to which the economic models are applied. ... Read more

Reviews (3)

MAH-velous!
David Colander's Microeconomics is possibly the best introductory book to Microeconomics. He provides practical examples, as well as allows his own personal quirks and the like to show through, thus avoiding the monotony of traditional textbooks. Also contains color illustrations to help in the understanding (and the illustrations ARE helpful!).

its great
i also have another few books of this write and this writer is simply great to present us his ideas

Excellent intro to microeconomics
This is a great text for an intro to Microeconomics (I used this book when I was student). It was written clearly by stating the points that the author hopes you learn, followed by the reading and then exercises and problems to make sure the student understood the concepts from the chapter. The many graphs in this book make the concepts easy to understand and the fact that most of the graphs are in color helps out alot. ... Read more

Book Description

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. ... Read more

Reviews (60)

Helps you to gain the confidence needed for academic success
Going through a Ph.D. education in economics can be a risky investment. Unless you build on strong foundations the whole thing will fall apart as soon as you get out of graduate school, no matter how fancy your dissertation was. This book provides you with the fundamental tools you need to do research and teach when you become a full-time researcher and professor, in any branch of economics, either applied or theoretical. Even if you dont apply them at this rigorous level, you will always know if you are doing something wrong just by checking the basics in this book. It also provides you with the common language economists speak all over the world, regardless ideological points of view. It is the stuff we all agree with, and the starting point of any future development in our discipline. However, if you are not planning to become a professor but a professional (a practitioner economist) better turn to Milton Friedman's Price Theory for sound intuition on how to tackle the even more difficult real-world problems.

Big book, but much bigger in its contents
In its coverage and depth, this book needs help from only several other books such as Fudenberg and Tirole's(Game), Freixas and Rochet's(Banking), Tirole's(IO) and Salanie's(Contract) in the standard topics of microeconomic theory.
In the meantime, this big book provides relatively unified and consistent core in "mathematical analysis"-like terms and tones. This may make the students frustrated and bored. Simply, this problem can be fixed in only one way. "Stand and Be accustomed!"

One thing is that we'd better get accustomed to Real Analysis, Functional Analysis, Vector Analysis and the like.

Excellent treatment in theoretical microeconomics
The book presents a very complete treatment in theoretical microeconomics. It is rigorous but plenty of explanations and examples.

Some readers complain about the lack of real world examples and the math level. Well, the book is intended for graduate students in economics and requires full command of calculus in several variables, nonlinear optimisation (Kuhn-Tucker), and some concepts in real analysis. Without, this background I understand it may be painful to read it. One advice is reviewing the mathematical appendix and using a complementary text like Simon&Blume. Once you get used to this the story changes a lot (own experience).

It is true that you don't find here many real world examples, but simply the book is not intended for this purpose. If you want this try another one.

In sum, if you want a good background in theory this is the benchmark (I've read Varian also and some parts of Kreps).

Complete, well explained and concise
This is a really good book for those who are taking graduate courses or comprehensive exams in Microeconomics. It covers almost everything one needs to know about microeconomics and can be used as a reference book. It sure gets into technicalities too, but one has always the option to skip them and focus on general ideas. Only that the "Game Theory" section is not the best you can find. Some complementary texts is recommended for that section.

Solid introduction to microeconomics
Just like Samuelson's introductory text was for many years a standard in undergraduate economics courses, so is MWG the canonical choice for first-year graduate microeconomics. It is a comprehensive treatment that leaves out neither the rigorous mathematics that the subject deserves nor discussions of the applications and intuition, and while the size can be intimidating, instructors generally only choose the chapters most appropriate to their own exposition. The only quibble about the book is that while it covers the 50-year-old foundations but does not go into new developments of microeconomics too much, for which I would suggest _The Structure of Economics_. ... Read more

Book Description

Pricing, 3/e, synthesizes economic and marketing principles with accounting and financial information to provide a basis for analyzing pricing alternatives within legal and corporate constraints. This revision of this classic text brings readers an understandable writing style, a more complete discussion of the quantitative issues, and a greater number of clear-cut examples. The material on the economics of pricing now reflects recent research in pricing by applied economists and marketing researchers trained in economics. ... Read more

Book Description

Can You Predict the Future by Looking at the Past? Since accurate forecasting requires more than just inserting historical data into a model, Forecasting: Methods and Applications, 3/e, adopts a managerial, business orientation. Integrated throughout this text is the innovative idea that explaining the past is not adequate for predicting the future. Inside, you will find the latest techniques used by managers in business today, discover the importance of forecasting and learn how it's accomplished. And you'll develop the necessary skills to meet the increased demand for thoughtful and realistic forecasts. New features in the third edition include:
* An emphasis placed on the practical uses of forecasting.
* All data sets used in this book are available on the Internet.
* Comprehensive coverage provided on both quantitative and qualitative forecasting techniques.
* Includes many new developments in forecasting methodology and practice. ... Read more

Reviews (7)

This book has the formulas.
Chapters 3 and 4, and on covered the vital information that is useful for inventory system forecasting at the SKU level, and for measuring the accuracy of the forecasts. This book was extremely helpful in that regard. Highly recommended.

Down to earth, practical guide on forecasting.
The book provides coverage of three important areas:

- Basic forecasting tools and methods - summarizing data, statistical tools, regression, as well as some material on more advanced forecasting methods
- Data preparation - time series decomposition, smoothing methods
- A discussion of the issues involved in forecasting - long term versus short term forecasting, accuracy of forecasts, the importance and limitations of judgmental forecasts and combining these with statistical forecasts

I was fortunate enough to stumble across this book in a colleagues office and believe this book should belong in every market research professional's shelf.

More of a reference text
I used this text for an undergraduate course in Industrial Forecasting. Unfortunately, the text is not very good if you actually want to learn new material from it. It is better suited as a reference text for you to look up equations and concepts after you have already learned them.

Excellent Examples and Practical Approach
This book was not only recommended, but given to me as a MUST READ at work. Excellent practical approach to the theory with a minimum of formulation. Good practical examples and demos. I recommend it as a training manual for new analysts on the job.

forecasting
forecasting, economics, business cycles, economic activity, business environment ... Read more

Book Description

By focusing on three elemental themes--economic factors, measurement issues, and decision-making perspective--Jamie Pratt's book provides an enlightening coverage of financial accounting from an economic perspective, at once tightening the conceptual framework while enriching the essential contextual relevance of principles every business manager needs to understand. ... Read more

Reviews (4)

Not even an answer key to the exercises
The book is easy to understand, but there should be a solutions manual, or at least an answer key to the exercises. It has been very difficult for me to "learn the mechanics" and "apply the concepts" at the end of each chapter. The pace of the course allows the teacher to solve only 2 or 3 exercises in class, and the book certainly does not make selfstudy easy. Needless to say, that you can't learn financial accounting just by reading. To makes things even worse, a study guide, which does not refer to the same exercises in the book, is out of print.

Confusing
The text is very confusing.

Very helpful.
Here is one of the best ratings for this book: most of my fellow MBA students are pathalogical whiners. Even they found this book to be very helpful.

I have a background in technical education and it looks to me like Jamie Pratt knows how to educate his students.

i can not believe i have to wait 4-6 weeks for this book!
what is the point of being an on line bookstore when you cant get me this book under 4-6 weeks? i can wait 4-6 weeks at barnes and nobel. ... Read more

Book Description

This modern principles book has a strong foundation in demand and supply—the most important topic in learning principles of economics. Its improved coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables learners to better visualize and truly understand the difference between these two fundamental concepts. Early coverage of comparative advantage and externalities reflects a more modern approach to comprehending the underpinnings of microeconomics.A six-part presentation covers an introduction and key principles, closer look at supply and demand, market structures and pricing, spillovers and information, the labor market and economic challenges, and the international economy.For individuals using the tools of economics to help them grasp the logic of economic reasoning. ... Read more

Reviews (1)

Better textbooks exist...
While experimenting with different textbooks for my Microeconomics classes, I decided to try the O'Sullivan and Sheffrin text. That experiment lasted two semesters.

Portions of the textbook are written at levels which are too low for college/university students, while other portions expect students to go beyond the scope of the material covered in the text. For example, in the chapter on demand and supply, surpluses and shortages are never referred to as such. Instead, they are only referred to as 'excess supply' and 'excess demand'. Too simplistic of a definition is also used for opportunity cost.

At the same time, additional problems inserted near the end of each chapter (not the chapter problems themselves), require students to apply the theory in a way that isn't taught in the textbook. Any student who has been required to complete these questions, on the basis of the textbook alone, may have experienced a lot of frustration from attempting these problems.

In addition, the textbook presents a detailed theory of taxicab licensing, yet doesn't completely explain all of the needed theory (short-run and long-run) for the market structures (pure competition, monopoly, etc.) The explanation of taxicab licensing is poor, for this level of student.

For any professor considering adopting this textbook, the testbank offers some very good questions. However, apparently some of the questions have been changed, perhaps from an earlier edition, but the answers haven't been. Overall, there were more errors in this testbank than in others I've used.

To anyone required to purchase this textbook for a course, I would recommend purchasing or borrowing other textbooks to supplement this text. If someone wants to learn Microeconomic theory on their own, there are better books available. ... Read more

Book Description

Applauded for providing the most clear and accurate presentation of advanced microeconomic concepts, Walter Nicholson brings us Microeconomic Theory: Basic Principles and Extensions, 8e . It gives readers the opportunity to work directly with theoretical tools, real-world applications, and cutting edge developments in the study of microeconomics. Reviewers exclaim, "Nicholsons text is solid, rigorous and comprehensive. It is sensibly challenging for students, best serving students with a mathematics background, and absolutely essential for those who are preparing for graduate studies in economics." ... Read more

Reviews (10)

Best Intermediate Book on the Market
This is the book you should purchase to learn classical intermediate economics if you plan to go to graduate school in economics. You will need calculus, but if you want to learn 'real' microeconomics, calculus is indispensable. Competing texts are too mathematically infantile to be of much use. This text is very worthwhile for self-study because solutions are given to half of the end-of-the-chapter problems.

A relatively mathematically sophisticated student should be able to go through the book on their own. After you've done this, you will be well on your way to possessing the 'intuition' as well as the 'basic' mathematical underpinnings needed at the graduate level.

As others have mentioned, the book is relatively light on game theory. Other texts will be necessary (Binmore, etc.) for learning this topic at the advanced undergraduate level.

an excellent intermediate book
This is a very good book for someone that wants a thorough understanding of intermediate level micro. It presents economics at a level in between Hal Varian's Intermediate Micro, and the far more advanced book by Mas-Colell. It gives a clear introduction to economics using calculus and, unlike other books, Nicholson covers second derivate conditions. This provides additional inights that help understand the more technical Mas-Colell.
Also, the type set and fonts are eye-friendly, and Nicholson is a master at explaning economics in a way that helps you learn it. I recommend this book for the serious student who wants to get ready for graduate level microeconomics courses. By serious, I do not mean only students that are majoring in economics, but also any other student who really wants to learn microeconomics.

The best!
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.

A good book but needs improving
A good textbook providing sufficient coverage of microeconomics with mathematical details. In this edition, it adds some matrix algebra as an extends. However, it seems to be inadequate. And I hope the future edition should includes more and more mathematical technique similar to the Eugene Silberberg's (The Structure of Economics).

An everyday book for an economist
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. ... Read more

Book Description

Unrivaled in its unique combination of analytical rigor and accessibility, Intermediate Microeconomics: A Modern Approach has garnered one of the broadest adoption lists in the market. Now appearing in its Sixth Edition, Professor Varian's hallmark text is better than ever, featuring new treatments of game theory and competitive strategy, and a variety of new illustrative examples. Modern, authoritative, and above all crafted by an outstanding teacher and scholar, Intermediate Microeconomics, Sixth Edition will expand students' analytic powers and strengthen their understanding of microeconomics. ... Read more

Reviews (23)

a great introduction into microeconomics
Varian has done a great job. He got the balance between the math necessary for serious microeconomics, and the examples and jokes necessary to keep the students reading. Using the dual approach (household and producer behaviour), he introduces the reader into microeconomics at a level which makes it possible to move on to more esoteric books like his own 'Microeconomic Analysis', or 'Microeconomic Theory' by Mas-Colell, Whinston, Green. He manages to cover much more than Mankiw can, which is good and necessary to build a solid basis. Yet the book is accessible to anyone familiar with high school math (differentiation and optimization), and requires no economic prerequisites. He also covers several more advanced topics on a stand-alone basis (like economics of information, or game theory) which on the one hand is very useful, as it gives the reader an idea as to where one can head to, but on the other hand is not satisfying as these chapters are necessarily rather superficial. Apart from that, the book is great to built a rigorous basis for household and producer behaviour, and makes it rather easy to go on to much more advanced literature. The math is hidden in the appendices, so it is necessary for a serious understanding to cover these as well, but I don't see any problem with that. This book is as excellent as an introductory micro book can ever be.

it is for undergraduates
Of course this textbook is not without it's flaws, maybe the major one is it's wordiness and lack of rigor. But if you could stick through it and read most of it then perhaps you could get something out of it. It is quite unfair to say that this book is one of the "worst," "a pain to read," or "dull" It is probably a standard textbook used in most universities at the undergraduate level. The fact that it is widely-used and is on it's sixth edition means that most undergraduate students are comfortable with Varian's approach. I'm in graduate school already but I still refer to it once in a while whenever I forget some concepts. It is aimed at sophomore/junior students who may not have been exposed to multivariable calculus and optimization yet; or who may still have a weak foundation in the mathematical tools required, so maybe that is the reason the author has placed the more rigorous (calculus) treatment in the appendices, as further reading material for students who want to know more. Serious students of economics who would like to pursue postgraduate degrees should realize that there are lots of other reference books out there to satisfy their curiosity and their need for more mathematical rigor. Finally, I would like to say that although the study of economics could have a tendency to be pedantic or just an exercise in mental gymnastics, understanding and applying concepts in neo-classical economics may somehow help us understand how (and why) the world works.

Okay
I think this book is okay but as many reviewers have said the math is a little lacking. While math is important to economics, it isn't necessarily for the math's sake that that is so. Incorporating both the math and specific examples utilizing math really clarifies the theory. I found myself confused about what microeconomic theory meant when there wasn't a lot of numerical examples to back it up. There are far better text books to get a really thorough grasp of microeconomic theory, but if you already have that fundamental grasp I think this one might refresh your memory. But I would recommend others if you are looking to learn the theory for the first time.

Excellent microeconomics book, but falls short on math.
This book is an excellent bridge from principles of microeconomics. However, while I am very good at applied economics, it falls short on explaining the mathematical concepts it introduces in the appendices. The most calculus I've had experience with is Brief calculus, but if you are to understand the equations in the appendices you'll need a little more calculus (unless you're born a math genius). The theories introduced in the book are clear and precise and make for easy reading and studying. If you want more concise understanding of the concepts, then I highly recommend purchasing the companion workbook.

A casual reader
Good advanced udergraduate. If you have a problem grasping concepts from this text, you need to think about another line of study. ... Read more

Book Description

This text remains a proven leader in the world of economics. Since introducing the aggregate supply/ aggregate demand model as a fundamental tool for learning economics over two decades ago, in this edition William J. Baumol and Alan S. Blinder continue their long tradition of equipping students with the knowledge and tools they need to apply modern economics to their world.Hallmark features include one of the strongest policy treatments on the market and a careful and in-depth focus on the most important economic tools students should retain after the course is over. ... Read more

Book Description

In a relatively short period of time Data Envelopment Analysis (DEA) has grown into a powerful quantitative, analytical tool for measuring and evaluating performance. It has been successfully applied to a host of different entities engaged in a wide variety of activities in many contexts worldwide. In many cases evaluations of these entities have been resistant to other approaches because complex, multiple levels of (often) poorly understood relations must be considered. A few examples of these multifaceted problems are (1) maintenance activities of US Air Force bases in geographically dispersed locations, (2) police force efficiencies in the United Kingdom, (3) branch bank performances in Canada, Cyprus, and other countries and (4) the efficiency of universities in performing their education and research functions in the U.S., England, and France. In addition to localized problems, DEA applications have been extended to performance evaluations of `larger entities' such as cities, regions, and countries. These extensions have a wider scope than traditional analyses because they include `social' and `safety-net' expenditures as inputs and various `quality-of-life' dimensions as outputs.

In other applications, DEA has been used to supply new insights into business activities and into the methods that have been used to evaluate these activities. These include `benchmarking' studies of professional organizations including legal and accounting societies, as well as organizational forms--such as evaluating the relative efficiencies of the `mutual' vs. `corporate' forms of organization that are used in the U.S. insurance industry. Finally, DEA can also be used to evaluate objects as well as governmental, business and societal activities. For example, a test study found that DEA compared favorably with traditional engineering approaches for use in evaluating the relative efficiencies of jet aircraft engines. These advantages accrued to DEA because of its ability to simultaneously handle multiple outputs and inputs without having to first specify a system of weights for use in effecting these evaluations.

Data Envelopment Analysis: A Comprehensive Text with Models, Applications, References, and DEA-Solver Software is designed to provide a systematic introduction to DEA and its uses as a multifaceted tool for evaluating problems in a variety of contexts. Each chapter accompanies its developments with simple numerical examples and discussions of actual applications. Emphasis is placed on the use as well as an understanding of DEA and the topics in this book have been selected and treated accordingly. The objective is to introduce students, researchers, and practitioners in business, economics, engineering, and the sciences to Data Envelopment Analysis.

The authors have been involved in DEA's development from the beginning. William Cooper (with Abraham Charnes and Edwardo Rhodes) is a founder of DEA. Lawrence Seiford and Kaoru Tone have been actively involved as researchers and practitioners from its earliest beginnings. All have been deeply involved in uses of DEA in practical applications as well as in the development of its basic theory and methodologies. The result is a textbook grounded in authority, experience and substance. ... Read more

Reviews (2)

Excellence is a Function of Cooper et al.
What a joy it is to read a great book! If you want to learn the subject of Data Envelopment Analysis (DEA) get a copy of this book. Both the text and the CD help focus the reader to understand and maximize the learning experience. I am sure this book will become another classic for Dr. Cooper et al.

great DEA models and advances
for researchers, this book is a must in that it presents a really comprehensive review of dea history and frontiers. but good applications and model comparison with stochastic or bayesian studies could be addressed more in details. ... Read more