Offering the most cutting-edge coverage available, the 10th edition of the market-leading **MICROECONOMIC THEORY: BASIC PRINCIPLES AND EXTENSIONS** delivers a text that is rigorous yet accessible, accurate in theory yet practical in application, thorough yet concise. Now at a more succinct 19 chapters, this tried-and-true, widely popular text is known as the bible of microeconomics, offering the most clear and accurate presentation of advanced microeconomic concepts.

For the new edition, proven author and economic authority Walter Nicholson is joined by new co-author Chris Snyder, a professor of economics at Dartmouth College. These highly respected economists draw from their wealth of experience in the classroom and the marketplace, giving the book a practical, real-world perspective. Taking a calculus-based approach, MICROECONOMIC THEORY provides an ideal level of mathematical rigor for upper level undergraduate students and beginning graduate students.

Extremely reader-friendly, the book is designed to help students truly understand and apply economic models as it enables them to work directly with theoretical tools, real-world applications, and the latest developments in the study of microeconomics. Insightful graphic presentations help visual learners see the connections between the calculus and the algebra/geometry of the same material. In addition, end-of-chapter problems are now presented in two tiers: Simple numerical/mathematical exercises, which build student intuition, are followed by more analytical, theoretical, and complex problems.

Unlike other, more theoretical texts, MICROECONOMIC THEORY presents theory in an accessible way as well as illustrates how it applies in the real world.

### Synopsis

Nicholson’s Microeconomic Theory: Basic Principles and Extensions, 9th edition is a tried-and-true, well-known and respected market-leading text. Applauded for providing the most clear and accurate presentation of advanced microeconomic concepts, it offers an ideal level of mathematical rigor for upper level undergraduate students and beginning graduate students. It gives students the opportunity to work directly with theoretical tools, real-world applications, and cutting edge developments in the study of microeconomics. This text is solid, rigorous, comprehensive, and is sensibly challenging for users.

### About the Author

Walter Nicholson is the Ward H. Patton Professor of Economics at Amherst College. He received his B.A. in mathematics from Williams College and his Ph.D. in economics from MIT. Professor Nicholson’s principal research interests are in the econometric analyses of labor market problems including unemployment, job training, and the impact of international trade. Professor Nicholson and his wife, Susan, live in Amherst, Massachusetts, and Naples, Florida. What was previously a very busy household, with four children everywhere, is now rather empty, with only one rather aged Labrador retriever still underfoot. But an ever-increasing number of grandchildren breathe some life into these places whenever they visit, which seems far too seldom.

### Table of Contents

**PART I: INTRODUCTION. **

1. Economic Models.

2. The Mathematics of Optimization.

**PART II: CHOICE AND DEMAND. **

3. Preferences and Utility.

4. Utility Maximization and Choice.

5. Income and Substitution Effects.

6. Demand Relationships Among Goods.

**PART III: PRODUCTION AND SUPPLY. **

7. Production Functions.

8. Cost Functions.

9. Profit Maximization.

**PART IV: COMPETITIVE MARKETS. **

10. The Partial Equilibrium Competitive Model.

11. Applied Competitive Analysis.

12. General Equilibrium and Welfare.

**PART V: MODELS OF IMPERFECT COMPETITION. **

13. Models of Monopoly.

14. Traditional Models of Imperfect Competition.

15. Game Theory Models of Pricing.

PART VI: PRICING IN INPUT MARKETS.

16. Labor Markets.

17. Capital Markets.

**PART VII: UNCERTAINTY, INFORMATION, AND EXTERNALITIES. **

18. Uncertainty and Risk Aversion.

19. The Economics of Information.

20. Externalities and Public Goods. 21. Political Economics.

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