- Paperback: 632 pages
- Publisher: Cambridge University Press; 7 edition (September 12, 2005)
- Language: English
- ISBN-10: 0521523427
- ISBN-13: 978-0521523424
- Product Dimensions: 7 x 1.4 x 10 inches
- Shipping Weight: 2.8 pounds (View shipping rates and policies)
- Average Customer Review: 9 customer reviews
- Amazon Best Sellers Rank: #232,968 in Books (See Top 100 in Books)
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Price Theory and Applications: Decisions, Markets, and Information 7th Edition
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"For coverage, clarity, and cleverness, this is the best microeconomic book available today. Its engaging examples illustrate the importance and beauty of microeconomics. The book highlights relevancy without compromising rigor." Todd Sandler, University of Southern California
"Price Theory and Applications is a classic, but one that refreshes itself with every edition. Now, as ever, it has two particular strengths. One is in teaching the reader how to think like an economist, at a level both elementary and deep. The other is in its many examples drawn from the best and latest economic research." Eric Rasmusen, Indiana University
"The seventh edition of this classic text continues the tradition that Jack Hirshleifer started with early editions of the book. It doesn't just teach the basics of microeconomics like many of its rivals. It provides deep insights into the subject so that students walk away with a clear and rich understanding of what microeconomics is really about." Michael Waldman, Cornell University
"This seventh edition of a now classic text in intermediate microeconomics develops the subject in a lively manner that should be attractive to both students and teachers alike. It presents the main principles of modern microeconomics in an interesting and user friendly manner, by, in particular, showing how such principles can be used to shed light on many real-world economic issues and phenomena. The number and diversity of examples and applications provided is impressive, and these will prove invaluable in learning and in stimulating interest in the subject." Abhinay Muthoo, University of Essex
"I was a student of Jack Hirshleifer. I wrote my dissertation on sharecropping under him. Then I wrote on externalities, fisheries, concubines and blind marriages, apples and bees, price and rent controls, patents and trade secrets, theater-ticket pricing, contracts and the firm, and then numerous articles accurately predicting and effectively explaining the economic reforms of China. All these were germinated from auditing Jackas evening price-theory lectures in a small room at UCLA, 42 years ago. The lecture notes he prepared then laid the foundation of Price Theory and Applications. The magic in those notes has remained evident up through this seventh edition of the book." Steven N.S. Cheung, University of Hong Kong
"This thorough revision of one of the best microeconomics texts provides fresh insights for a host of interesting issues, including how money first emerged as part of exchange, how corruption reduces standards of living, and an entire section putting politics under the economic lens. This text is fun to read, with an offbeat and lively style. Its transparent analyses make the arguments accessible and understandable to students." Paul J. Zak, Claremont Graduate University
This is a textbook in intermediate microeconomics, a required subject for economics majors in virtually all economics departments in the United States and other countries. Business schools also often cover the topic. The first edition of this book changed the way such textbooks are written, particularly by including scores of boxed examples illustrating real-world applications of the theory. In the meantime other authors have imitated Price Theory and Applications, but the text itself remains in the lead--owing to much more extended and detailed presentation of such examples, including applications of economic principles in fields such as biology and anthropology and politics.
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The book does a really good job of explaining the concepts in a readable way - even the technical parts are cleanly described and are illustrated/explained very well with graphs. I feel like anybody who's willing to put in the work can actually learn the subjects presented simply by reading the book alone (unlike other textbooks where you have to dig through Google to get a basic understanding of what the author's trying to say). I might be completely wrong, but it seems like this book was written to actually teach the subject to anybody interested enough to learn it and not so much for peer approval.
I would highly recommend this - I'm not qualified enough to start trashing the content of the book on its validity - but assuming that the content is correct, this is a great book to learn it from.
The approach here is to remove all of the mystery from the graphs and jargon along with the hidden objectives of Economics. Everything is out in the open.
This is the book that they should, but don't use at both LSE and Oxford. The lucky students who get to use this book will have a much better chance of leaving with a knowledge of Economics that they will be able to use for themselves and to share with others.