Customer Reviews

Microeconomics, 6th Edition

5 star:		(17)
4 star:		(14)
3 star:		(9)
2 star:		(8)
1 star:		(7)

 

 

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Also unlike most outdated econ textbooks today, this one includes excellent chapters on Game Theory and pricing strategies.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.

Just for those who might be wondering, the package edition includes the hardcover textbook as well as the corresponding workbook. Since the description does not make this clear, I thought I would mention it, since this is quite a bargain if you're buying both anyway.

Organization of the books is good. Topics are discussed with enough clarity and each topic comes with lots of graphs and illustrations (which I think are a great help at that level). 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.

I want to warn anyone buying the international version that the problems are different from the US version.
Also, some of the notation is different (ex. rupees instead of dollars) and some of the examples are different.
If you don't have problems assigned from the book, the international version will work fine.
Many sellers claim that the editions are exactly the same, but they are not!

I currently use this book to teach at the University of Michigan. (I chose it because it's what has been used here before.) The book is written in an accessible, reader-friendly style. It has many examples and pictures, which make it attractive -- a feature, I suppose, that is necessary to hold an undergrad's attention in these times we live in.

But what annoys me is the absence of conceptual rigor/detail and the sudden jumps in explanation. I want my students to be able to see what is going on and appreciate the simple elegant logic of microeconomic theory. Instead the book reads like it's delivering information to you, but isn't really explaining why it makes sense.

Here's an example. In Section 4.2 on Income and Substitution Effects, the effect of a price change is decomposed into income and substitution effects using constant utility. But as many of us know, there's an alternative way to do this too, which is holding purchasing power constant. For some reason that approach isn't mentioned. Instead, the text reads as though we were interested in the constant purchasing power approach, but then suddenly switches to a constant utility approach by saying "This substitution is marked by a movement along an indifference curve." But why? Wouldn't any intelligent student at this point start wondering how we went from purchasing power to utility? Flip back to Section 4.1 and find that the word utility has been quietly introduced there in a sentence that's in parentheses: "(Because the price of food has risen, the consumer's purchasing power -- and thus attainable utility -- has fallen.)"

Pooh. I don't like books that sneak important ideas into parentheses in order to avoid answering the all important question -- i.e. "Why?"

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.

Unlike most texts in economics, this one is neither full of abstract equations nor is it completely devoid of them. This book balances both intuition and the math underlying economic phenomena. However, that is not all. As a student, I always wondered whether it is really possible to implement the concepts in practice. This book shows you how to do that by giving many examples from the real world. Whether you want to understand why tariffs are the lesser evil vis-a-vis quotas or how P&G will set prices in a competitive oligopoly, this book will show how. This, "economics in practice" approach makes this a truly delightful read. Buy it, read it and you will never regret it.

I had a copy of this book which changed editions between my second and third year of university. I went to the library and compared the old and new editions, and out of the entire 600 pages, only SIX pages had new content. Three chapters had been re-ordered. The rest of the book was identical. If you don't need to buy it new, don't, and save the $100. Intermediate microeconomics doesn't change that much in 3 years.

Although billed as a text "suitable for students with a broad range of backgrounds," as an intermediate student using it this semester in a graduate public policy program core class, I've found this book of little value. Topics are rarely covered in depth (e.g., utility effects of taxation and subsidies are consigned to roughly two pages), examples, though clearly explained, are rather basic -- mathematical formulas are scarce and calculus is nonexistent -- and the graphs are less descriptive relative to other intermediate texts. (If you've used either of Nicholson's texts, this one is certain to disappoint in comparison.) In short, beginners may benefit; others should not waste their money.

A well written book on the whole especially for beginners like me. Unfortunately, the book does lack mathematical examples.