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Microeconomic Theory: Basic Principles and Extensions Spiral-bound – 26 May 2004

5.0 out of 5 stars 1 customer review

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Product details

  • Spiral-bound: 768 pages
  • Publisher: South-Western; International ed edition (26 May 2004)
  • Language: English
  • ISBN-10: 0324225059
  • ISBN-13: 978-0324225051
  • Product Dimensions: 25 x 19.8 x 2.6 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: 1,058,611 in Books (See Top 100 in Books)

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Format: Spiral-bound
It's a perfect solution for the study of undergraduate course. Nicholson's book comprises all of common topics in intermediate (and advanced level in some sections) microeconomics. The advantage of this book is not only a comprehensive and clear introduction to modern course, but good impact on extensions that suggest further discussions on more conmplicated problems and give the best link to the further reading. The examples of practice are very well inplemented and give the view on problems solving in a clear way. Though Economics of Information and Uncertainty and Risk and other chapters are well explained, the book just omits or does not pay enough attention to some problems connected with the input markets and some other. But that cannot reduce Microeconomic Theory's value.
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Most Helpful Customer Reviews on (beta) HASH(0x98b8839c) out of 5 stars 1 review
4 of 4 people found the following review helpful
HASH(0x98dc4678) out of 5 stars advance undergraduate textbook 5 Sept. 2009
By e.kasim - Published on
Format: Spiral-bound
There are different types of microeconomics texts in the market. "Baby" Varian, Pindyck, Katz and Perloff are all popular intermediate level books. Mas Colell, Jehle and Kreps are pretty upper level texts. I can say that this book takes place between these two levels. Well, when one reads wordy economics books I am sure that a reader gets uncomfortable since everything is explained with some graphs and primitive math. The reader starts to ask why there are no mathematical expressions and calculations. I mean, using derivatives in an appropriate place could be very beneficial for the reader to understand the content. On the other hand, users of this text or any mathematical economics textbook could suffer from lack of intuition and graphical illustration. For example, proof of average productivity at maximum equals to marginal productivity could be well demonstrated with some graphs without annoying the reader. In short, it is almost impossible to find the "complete" microeconomics textbook in the market. Nevertheless, not every author can see 10th edition of his manuscript so I appreciate the success of Nicholson.

Specifically, one should not expect deep and wordy explanation of topics. Also, one should not expect upper level of math such as matrices, gradient, KKT etc. in this book. There are no many graphical explanations and math usage is a little bit higher than traditional intermediate books. Therefore, it would be better for beginners to understand intuition of microeconomics and then start to read Nicholson.

I have read the book up to the chapter 15 and among these "game theory" and "profit maxizimization" are very well written . However, in my opinion, the topic of "monopoly" should be revised. It lacks important details such as contestable markets, Lerner index etc.

Finally, for those who want to learn microeconomics with intermediate math level but find this book a little bit difficult, I strongly suggest this one; Microeconomic Theory: Concepts and Connections (with Economic Applications)(MIT and Harvard use this text in their intermediate micro courses).
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