Microeconomics,
2nd Edition

Thomas Nechyba

Microeconomics
ISBN-13: 9781305115941
Copyright 2017 | Published
800 pages | List Price: USD $283.95

Should you rent a car or take taxis while on vacation? How do coupons change demand? Should the U.S. subsidize oil drilling to become less dependent on foreign oil? MICROECONOMICS: AN INTUITIVE APPROACH explains the economic theory underlying everyday choices using an interesting and conversational approach. The author demonstrates the larger context of economic intuition, while this easy-to-read text furthers your conceptual thinking with careful analysis. MindTap is now available with interactive, animated Video Graph Presentations that bring each graph from the book to life. Improved navigation and chapter markers let you use this feature with ease. New Progression Graphs in the eReader separate economic concept graphs into finite steps that you can walk through at your own pace.

Purchase Enquiry INSTRUCTOR’S eREVIEW COPY

Web Chapter 0: Foundational Preliminaries: Using Graphs in Economics (web-based chapter).
1. Introduction.
PART I: UTILITY-MAXIMIZING CHOICE: CONSUMERS, WORKERS, AND SAVERS.
2. A Consumer's Economic Circumstances.
3. Economic Circumstances in Labor and Financial Markets.
4. Tastes and Indifference Curves.
5. Different Types of Tastes.
6. Doing the "Best" We Can.
7. Income and Substitution Effects in Consumer Goods Markets.
8. Wealth and Substitution Effects in Labor and Capital Markets.
9. Demand for Goods and Supply of Labor and Capital.
10. Consumer Surplus and Deadweight Loss.
PART II: PROFIT-MAXIMIZING CHOICE: PRODUCERS (OR "FIRMS").
11. One Input and One Output: A Short-Run Producer Model.
12. Production with Multiple Inputs.
13. Production Decisions in the Short and Long Run.
PART III: COMPETITIVE MARKETS AND THE "INVISIBLE HAND".
14. Competitive Market Equilibrium.
15. The "Invisible Hand" and the First Welfare Theorem.
16. General Equilibrium.
17. Choice and Markets in the Presence of Risk.
PART IV: Distortions of the "Invisible Hand" in Competitive Markets.
18. Elasticities, Price-Distorting Policies, and Non-Price Rationing.
19. Distortionary Taxes and Subsidies.
20. Prices and Distortions across Markets.
21. Externalities in Competitive Markets.
22. Asymmetric Information in Competitive Markets.
PART V: DISTORTIONS OF THE "INVISIBLE HAND" FROM STRATEGIC DECISIONS.
23. Monopoly.
24. Strategic Thinking and Game Theory.
25. Oligopoly.
26. Product Differentiation and Innovation in Markets.
27. Public Goods.
28. Governments and Politics.
PART VI: CONSIDERING HOW TO MAKE THE WORLD A BETTER PLACE.
29. What Is Good? Challenges from Psychology and Philosophy.
30. Balancing Government, Civil Society, and Markets.

  • Thomas Nechyba

    Thomas J. Nechyba is Professor of Economics at the Sanford School of Public Policy, Duke University, US. At Duke, he has previously served as Director of Undergraduate Studies and as Department Chair and currently directs the Economics Center for Teaching (EcoTeach) as well as Duke's Social Science Research Institute. In addition to his activities in the US, he has lectured internationally in Europe, Latin America and New Zealand.

  • VIDEO GRAPH PRESENTATIONS AND PROGRESSION GRAPHS HELP INTEGRATE GRAPHING INTO YOUR COURSE. Graphing becomes clearer for your students and is simple to seamlessly incorporate into your complete teaching experience with these easy-to-use, engaging resources. Both Video Graph Presentations and Progression Graphs are available through this edition's MindTap® platform.

  • BRIEF SIDEBAR QUOTES BRING ATTENTION TO KEY CONCEPTS. Short side quotes in this text highlight key ideas and help students focus on these important points during their reading and review.

  • NEW MINDTAP® IMPROVES STUDENT OUTCOMES AND INCREASES STUDENT ENGAGEMENT. MindTap® with Aplia gives students the opportunity to assess themselves and receive immediate feedback on how well they comprehend your course material. Developed by teachers and used by more than 1,000,000 students, Aplia assignments connect concepts to the real world. Aplia assignments move students to higher-level learning, encouraging them to use critical thinking, analysis, synthesis, and decision-making skills. Learning activities build upon each other to foster connections among concepts.

  • MORE EFFECTIVE GUIDE HELPS YOU SELECT BEST PATH THROUGH TOPICS. This improved guide through the chapters makes it easier to find paths that are customized to the needs of your course. You can choose from a non-game theory path through microeconomics, a path emphasizing game theory, a path emphasizing policy issue or a path focused on business--depending on your preferences and students' needs.

  • GRAPHING IS NOW AN INTEGRAL PART OF YOUR MICROECONOMICS INSTRUCTION WITH VALUABLE GRAPHING TOOLS. Graphing can easily become an important part of your learning experience with access to Video Graph Presentations and Progression Graphs. These easy-to-use resources are available online through MindTap® for your convenience.

  • BRIEF SIDEBAR QUOTES BRING ATTENTION TO KEY CONCEPTS. Short side quotes in this edition highlight key ideas and demonstrate how they connect to one another.

  • Aplia, THE PREMIER ONLINE ASSIGNMENT SOLUTION PROVIDES IMMEDIATE FEEDBACK. Aplia, available through MindTap®, gives you the opportunity to assess yourself and receive instant step-by-step feedback on how well you comprehend the course material. Aplia assignments provide an at-a-glance view of current assignments organized by due date, you always know what's due, and when. 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.

  • NEW MINDTAP® PROVIDES TOOLS FOR SUCCESS IN THIS COURSE ALL IN ONE PLACE. MindTap® enables you to produce your best work consistently. By seamlessly integrating course material with videos, activities, apps, and more, MindTap® creates a unique learning path that increases comprehension and efficiency. Progression Graphs and Video Graph Presentations created by the author clarify concepts. You focus on what's most important to your instructor with built-in study tools that help you stay organized and efficient.

  • VIDEO GRAPH PRESENTATIONS PROVIDE UNFORGETTABLE CLARIFICATION. Have you ever sliced an onion in class to demonstrate the three-dimensional nature of a utility function? These unique Video Graph Presentations place graphical analyses into MindTap®, which enables your students to play and replay animated figures with audio captions. Students can watch lines being plotted and see curves move as the text's author narrates each situation.

  • PROGRESSION GRAPHS ALLOW STUDENTS TO STEP THROUGH CONCEPTS AT THEIR OWN PACE. Each Progression Graph decomposes an economic concept graph into finite steps, which allows the student to walk through each step at their own pace. Select graphs appear in the MindTap® eReader as Progression Graphs that give students the option to manipulate the graph as they read.

  • EVERYDAY APPLICATIONS ARE INTEGRATED INTO END-OF-CHAPTER EXERCISES. Rather than confining applications to static boxed features, this unique text incorporates practical applications into the end-of-chapter exercises. By working through exercises that exemplify key applications, students learn by doing and can apply their knowledge beyond the text. Students can access detailed solutions for some problems, and you, the instructor, have access to all remaining solutions.

  • CLEAR EMPHASIZES OF IMPACT OF MICROECONOMIC CONCEPTS ON TODAY'S BUSINESS APPLICATIONS. How does pricing of one product affect demand for another produced by the same business? How might a firm most efficiently use cap-and-trade pollution vouchers? What is the impact of a capital-gains-tax-induced increase in the rental price of capital on firms within an industry? By working through exercises in each chapter, students answer questions, such as these, that business professionals must answer every day.

  • CHAPTERS HIGHLIGHT RELEVANT AND INTRIGUING POLICY APPLICATIONS. How do private school vouchers affect tuition levels? How effective are anti-price gauging laws during times of supply disruption? How do governments consider policies for subsidizing saving vs. taxing borrowing? Each chapter includes relevant policy applications such as these within the exercises.

  • IN-CHAPTER EXERCISES ALLOW READERS TO CHECK THEIR UNDERSTANDING. Each chapter is divided into digestible segments punctuated by learning exercises that enable readers to pause and gauge their comprehension. Answers are available online and are also integrated into the MindTap® eReader for your convenience.

  • VIDEO GRAPH PRESENTATIONS PROVIDE UNFORGETTABLE CLARIFICATION. These unique Video Graph Presentations place graphical analyses into MindTap®, where you can play and replay animated figures with audio captions. You can watch lines being plotted and see curves move as the text's author narrates each situation.

  • PROGRESSION GRAPHS ALLOW YOU TO STEP THROUGH CONCEPTS AT YOUR OWN PACE. Each Progression Graph decomposes an economic concept graph into finite steps, which allows you to walk through each step at your own pace. Select graphs appear in the MindTap® eReader as Progression Graphs that give you the option to manipulate the graph as you read.

  • SEE THE EVERYDAY APPLICATIONS OF THE CONCEPTS YOU ARE LEARNING. Economics can illuminate questions and decisions in everyday experience. Working through end-of-chapter exercises that exemplify key applications, you learn by doing and can apply the knowledge that you are gaining to business, academic and life situations well beyond the text.

  • CLEAR EMPHASIZES OF IMPACT OF MICROECONOMIC CONCEPTS ON TODAY'S BUSINESS APPLICATIONS. How does pricing of one product affect demand for another produced by the same business? How might a firm most efficiently use cap-and-trade pollution vouchers? What is the impact of a capital-gains-tax-induced increase in the rental price of capital on firms within an industry? By working through exercises in each chapter, you answer questions, such as these, that business professionals must answer every day.

  • CHAPTERS HIGHLIGHT RELEVANT AND INTRIGUING POLICY APPLICATIONS. How do private school vouchers affect tuition levels? How effective are anti-price gauging laws during times of supply disruption? How do governments consider policies for subsidizing saving vs. taxing borrowing? Each chapter includes relevant policy applications such as these.

  • IN-CHAPTER EXERCISES ALLOW YOU TO CHECK YOUR UNDERSTANDING. Each chapter is divided into digestible segments punctuated by learning exercises that enable you to pause and gauge your comprehension. Answers are available online and are also integrated into the MindTap® eReader for your convenience.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

Cengage Testing, powered by Cognero® for Nechyba's Microeconomics: An Intuitive Approach, 2nd
9781305650503

Cengage Testing, powered by Cognero® for Nechyba's Microeconomics: An Intuitive Approach, Instant Access
9781305650558

Instructor's Companion Website for Nechyba's Microeconomics: An Intuitive Approach, 2nd
9781305650497

VitalSource eBook: Microeconomics 12 Months
9788000011622

MindTap: Microeconomics 12 Months
9781337018302