Higher Education

Intermediate Microeconomics and Its Application, 12th Edition

  • Includes CourseMate 2-Semester Printed Access Card.
  • Walter Nicholson Amherst College
  • Christopher Snyder Dartmouth College
  • ISBN-10: 1133189024  |  ISBN-13: 9781133189022
  • 648 Pages
  • Previous Editions: 2010, 2007, 2004
  • © 2015 | Published
  • College Bookstore Wholesale Price = $266.50
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About

Overview

The 12th 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, providing 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, step-by-step video problems, and activities that engage students' interest and encourage them to learn by doing.

Features and Benefits

  • A full complement of pedagogical features enhances student learning, including a running glossary, review questions, chapter summaries, numerical examples of major concepts, warnings about common errors, and solutions to odd-numbered problems in CourseMate.
  • MicroQuizzes within the chapters reinforce learning of key concepts.
  • The text contains more than 100 up-to-date applications that show how microeconomics is used in a variety of settings. Each application contains either questions that ask students to give more thought to the material or a summary of the policy challenges presented.
  • The text does not require calculus; most concepts are illustrated graphically as well as with simple algebra.
  • The text contains chapters on new and emerging topics in economics, including the study of asymmetric information and behavioral economics.

Table of Contents

Part I: INTRODUCTION.
1. Economic Models.
Appendix: Mathematics Used in Microeconomics.
Part II: DEMAND.
2. Utility and Choice.
3. Demand Curves.
Part III: UNCERTAINTY AND STRATEGY.
4. Uncertainty.
5. Game Theory.
Part IV: PRODUCTION, COSTS, AND SUPPLY.
6. Production.
7. Costs.
8. Profit Maximization and Supply.
Part V: PERFECT COMPETITION.
9. Perfect Competition in a Single Market.
10. General Equilibrium and Welfare.
Part VI: MARKET POWER.
11. Monopoly.
12. Imperfect Competition.
Part VII: INPUT MARKETS.
13. Pricing in Input Markets.
Appendix: Labor Supply.
14. Capital and Time.
Appendix: Compound Interest.
Part VIII: MARKET FAILURES.
15. Asymmetric Information.
16. Externalities and Public Goods.
17. Behavioral Economics.

What's New

  • Step-by-step video solutions are provided for selected problems. This collection of videos is available on CourseMate.
  • The text is fully integrated with CourseMate, providing access to a number of learning aids, including an e-Book, step-by-step video solutions, interactive quizzes, flashcards, and solutions to odd-numbered problems.
  • There are more in-chapter numerical illustrations of problem-solving techniques.
  • All applications have been updated and many new ones added.
  • Footnotes have been added showing the derivation of some calculus-based results.

Alternate Formats

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  • Non-Media Edition

    ISBN-10: 1133189032 | ISBN-13: 9781133189039

    List Price = $313.95  | CengageBrain Price = $313.95  | College Bookstore Wholesale Price = $236.00

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.

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Instructor Supplements

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Student Supplements

CourseMate, 1 term (6 months) Instant Access  (ISBN-10: 130526200X | ISBN-13: 9781305262003)

Student resources available in CourseMate include an e-Book, step-by-step video solutions, interactive quizzes, flashcards, solutions to odd-numbered end-of-chapter problems, a glossary, and games.

List Price = $247.00  | CengageBrain Price = $247.00  | College Bookstore Wholesale Price = $247.00

Aplia™, 1 term Instant Access  (ISBN-10: 1285858670 | ISBN-13: 9781285858678)

Aplia's economics students use interactive chapter assignments, tutorials, news analyses, and experiments to make economics relevant and engaging.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

LMS Integrated for Aplia™, 1 term Instant Access  (ISBN-10: 1305102371 | ISBN-13: 9781305102378)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

LMS Integrated for CourseMate™, 1 term Instant Access  (ISBN-10: 1305262026 | ISBN-13: 9781305262027)

List Price = $247.00  | College Bookstore Wholesale Price = $247.00

Meet the Author

Author Bio

Walter Nicholson

Dr. Walter Nicholson is the Ward H. Patton Emeritus Professor of Economics at Amherst College and a visiting professor at Ave Maria University, Naples, Florida. Throughout his teaching career, Dr. 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. Dr. Nicholson received his Ph.D. in economics from MIT. Most of his research is in the area of labor economics, especially policy questions related to unemployment. He lives in Naples, Florida and Montague, Massachusetts, where he and his wife enjoy the frequent visits of their eight grandchildren.

Christopher Snyder

Dr. 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 Review of Industrial Organization. Snyder received his Ph.D. from MIT. His recent research has appeared in leading economics journals, including the Review of Economics and Statistics and Quarterly Journal of Economics. He lives in Hanover, New Hampshire, with his wife, who also teaches economics at Dartmouth, and three daughters.

Step-by-Step Video Solutions

Step-by-Step Video Solutions, created by the authors, walk students through selected problems throughout the text. With this new video format, students are engaged and get more of a hands-on feel for solving the problems. Problems are worked on a virtual blackboard where viewers can pause, rewind, and learn the material at their own pace.