book microeconomic theory: basic principles and extensions

microeconomic theory: basic principles and extensions book by walter nicholson

dive deep into the world of economic models with microeconomic theory: basic principles and extensions, a leading textbook in the field of economics. authored by walter nicholson, and later editions co-authored by christopher snyder, this comprehensive book provides a clear and accurate presentation of advanced microeconomic concepts. this text is renowned for its ideal level of mathematical rigor, making it perfectly suited for upper-level undergraduate and beginning graduate students. spanning over 700 pages, this academic textbook delves into the core principles of microeconomics, equipping students with the theoretical tools and real-world applications necessary to excel in the field.

about the author walter nicholson

walter nicholson is the ward h. patton professor of economics at amherst college. he earned his ph.d. in economics from the massachusetts institute of technology (mit). professor nicholsons primary research interests lie in the econometric analyses of labor market problems, including issues of welfare, unemployment, and the impact of international trade. throughout his career, he has aimed to instill in students an appreciation for the value of economic models in understanding important social questions.

microeconomic theory: basic principles and extensions summary

microeconomic theory: basic principles and extensions offers a thorough and accessible exploration of modern microeconomic theory. the book takes a calculus-based approach, presenting key microeconomic topics with both analytical precision and intuitive explanations. it is designed to help students work directly with theoretical tools, understand real-world applications, and explore cutting-edge developments in the study of microeconomics, including behavioral economics. the text is structured to build a strong foundation, starting with economic models and mathematical preliminaries before moving into core topics such as choice and demand, uncertainty and strategy, production and supply, competitive markets, and market power. a key feature of the book is its two-tiered end-of-chapter problems, which begin with simple numerical exercises to build intuition and are followed by more analytical and complex problems. this approach helps to solidify students understanding of the material and their ability to apply it. the book is widely considered a staple for those looking for a rigorous and comprehensive understanding of microeconomic theory.

frequently asked questions

1. what is the target audience for microeconomic theory: basic principles and extensions?

   this book is primarily intended for upper-level undergraduate and beginning graduate students in economics. its calculus-based approach and rigorous treatment of topics make it suitable for those with a solid mathematical background.

2. what are the main topics covered in the book?

   the book covers a comprehensive range of microeconomic topics, including economic models, mathematics for microeconomics, choice and demand, uncertainty and game theory, production and supply, competitive markets, market power, and pricing in input markets.

3. what makes this book different from other microeconomics textbooks?

   this text is known for its clear and accurate presentation of advanced microeconomic concepts with an ideal level of mathematical rigor. it effectively connects theory to real-world applications and includes a popular section on behavioral economics. the insightful graphic presentations help in visually understanding the connections between calculus and the algebraic and geometric approaches to the same material.

4. are there problem sets or exercises in the book?

   yes, the book includes a two-tier end-of-chapter problem set. these begin with simple numerical and mathematical exercises to build student intuition, followed by more analytical, theoretical, and complex problems to deepen their understanding.

5. who is the author, walter nicholson?

   walter nicholson is the ward h. patton professor of economics at amherst college. he received his ph.d. in economics from mit and his research focuses on the econometric analysis of labor market issues.