Cengage Learning

Higher Education

Intermediate Microeconomics and Its Application, 11th Edition

  • includes Economic Applications Printed Access Card and InfoTrac® 2-Semester Printed Access Card
  • Walter Nicholson Amherst College
  • Christopher Snyder Dartmouth College
  • ISBN-10: 0324599102  |  ISBN-13: 9780324599107
  • 688 Pages
  • Previous Editions: 2007, 2004, 2004
  • © 2010 | Published
  • College Bookstore Wholesale Price = $272.50
  • Newer Edition Available
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About

Overview

The Eleventh Edition of INTERMEDIATE MICROECONOMICS AND ITS APPLICATION, 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.

Features and Benefits

  • 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.

Table of Contents

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.
5 Game Theory.

PART 4 PRODUCTION, COSTS, AND SUPPLY.
6 Production.
7 Costs.
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.
11 Monopoly.
12 Imperfect Competition.

PART 7 INPUT MARKETS.
13 Pricing in Input Markets.
Appendix: Labor Supply.
14 Capital and Time.
Appendix: Compound Interest.

PART 8 MARKET FAILURES.
15 Asymmetric Information.
16 Externalities and Public Goods.
17 Behavioral Economics.

What's New

  • 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.
  • 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.

Learning Resource Bundles

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Learning Consultant for more information.

ePack: Printed Text + Aplia™ Instant Access

ISBN-10: 1305605624 | ISBN-13: 9781305605626

List Price = $380.95  | CengageBrain Price = $380.95  | College Bookstore Wholesale Price = $282.50

This Bundle Includes:

  • Intermediate Microeconomics and Its Application
    List Price = $367.95  | CengageBrain Price = $367.95  | College Bookstore Wholesale Price = $272.50
  • Aplia™ Instant Access
    List Price = $123.00  | CengageBrain Price = $123.00  | College Bookstore Wholesale Price = $123.00


Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" tab, then select "What's New" for updates specific to title's edition.

For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor Supplements

Aplia™ Instant Access  (ISBN-10: 113362863X | ISBN-13: 9781133628637)

An interactive, online learning solution available in over 15 disciplines that increases student effort and engagement, minimizing instructor time spent on manual grading and class administration.

List Price = $123.00  | CengageBrain Price = $123.00  | College Bookstore Wholesale Price = $123.00

Study Guide  (ISBN-10: 0324599072 | ISBN-13: 9780324599077)

The Study Guide and Workbook, by Brett Katzman, Kennesaw College, includes learning objectives, fill-in summaries, multiple-choice questions, glossary questions, exercises involving quantitative problems, graphs, and answers to all questions and problems.

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $48.25

Student Supplements

Intermediate Microeconomics (Book Only)  (ISBN-10: 143904404X | ISBN-13: 9781439044049)

List Price = $367.95  | CengageBrain Price = $367.95  | College Bookstore Wholesale Price = $272.50

Aplia™ Instant Access  (ISBN-10: 113362863X | ISBN-13: 9781133628637)

An interactive, online learning solution available in over 15 disciplines that increases student effort and engagement, minimizing instructor time spent on manual grading and class administration.

List Price = $123.00  | CengageBrain Price = $123.00  | College Bookstore Wholesale Price = $123.00

Study Guide  (ISBN-10: 0324599072 | ISBN-13: 9780324599077)

Study more effectively and improve your performance at exam time with this comprehensive guide. Written to work hand-in hand with INTERMEDIATE MICROECONOMICS AND ITS APPLICATION, 11th Edition, this user-friendly guide includes a wide variety of learning tools to help you master the key concepts of the course.

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $48.25

Meet the Author

Author Bio

Walter Nicholson

Walter Nicholson is the Ward H. Patton Emeritus Professor of Economics at Amherst College and a visiting professor at Ave Maria University, Naples, Florida. Over his teaching career, Professor Nicholson has sought to develop in students an appreciation for the value of economic models in the study of important social questions. He also has enjoyed showing students some of the stranger things that economists have sought to model. Nicholson received his PhD in economics from MIT. Most of his research is in the area of labor economics, especially policy questions related to unemployment.

Christopher Snyder

Christopher Snyder is the Joel Z. and Susan Hyatt Professor of Economics at Dartmouth College, where he pursues research and teaching interests in microeconomic theory, industrial organization, and law and economics. He is a research associate in the National Bureau of Economic Research, serves on the board of the Industrial Organization Society, and is an associate editor of the International Journal of Industrial Organization and Review of Industrial Organization. Snyder received his PhD from MIT. His recent research has appeared in leading journals both in and outside economics, including the Journal of Political Economy and Journal of the American Medical Association. He lives in Hanover, New Hampshire, with his wife, who also teaches economics at Dartmouth, and three daughters.