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Microeconomics, by Austan Goolsbee, Steven Levitt, Chad Syverson
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Where microeconomics gets down to work
Like no other text for the intermediate microeconomics course, Goolsbee, Levitt, and Syverson’s Microeconomics bridges the gap between the theory and practice, providing an empirical dimension that makes the course immediately relevant and useful to students. With carefully crafted features and examples that offer unusual perspectives on the seemingly ordinary, Goolsbee, Levitt, and Syverson’s breakthrough text helps instructors move students from understanding basic economic principles to applying the powerful tools of economic analysis.
See what's in the LaunchPad
- Sales Rank: #7606 in Books
- Published on: 2012-12-14
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 1
- Dimensions: 10.14" h x 1.27" w x 8.26" l, 3.60 pounds
- Binding: Hardcover
- 835 pages
Most helpful customer reviews
7 of 8 people found the following review helpful.
Seems to be considerably worse than its competitors
By A.
I'm teaching out of this book this semester, having previously taught out of Perloff and Pindyck, and so far am unimpressed. It seems heavy on cutesy/flowery/chatty language, and light on substance.
Illustratively, consider their treatment of welfare calculations (Ch. 3) versus the treatments in Pindyck and Perloff (both Ch. 9). Goolsbee et al spend a lot of time belaboring the mechanical details of the graphical welfare model without giving particularly good insight. You won't leave Chapter 3 confused on how to solve for the area of a triangle, but they fail to mention key interesting limitations when using the graphical model, like the fact that when you have a price ceiling and excess demand, the model implies that those who value the good most highly will be those who procure it, but this is actually a relatively strong assumption. Both Perloff and Pindyck discuss this, and leaving it out will create confusion for the students who have a higher level of understanding. It's ultimately not a huge issue if it were isolated, but I have found so far that there are many similar problems with insufficient (or even substantively incorrect) coverage of topics in the book.
Another example is their treatment of price floors. They seem to assume when doing the welfare analysis that magically producers will limit their supply, but the text indicates that peanut producers actually are unable to find buyers. It seems better to include the DWL from waste, or be clear on what is actually happening in this market otherwise. Pindyck in particular has an excellent treatment of this topic which is far less confusing and actually teaches the students something about how agricultural price supports tend to work.
Also - you would think given its Freakonomics roots, the examples would be more entertaining than other intro micro books, but that hasn't yet seemed to be the case.
1 of 1 people found the following review helpful.
Good intro book about the subject
By Leonardo Gaboardi
I never had any exposure to microeconomics before and the book was very helpful (alongside the class, of course) in having a good understanding on how our world works.
I have only 2 complaints: the solutions given are for about 20% of the problem sets (how do you cross check if you actually understood the concepts if you don't know what is right or wrong 80% of the time?), and sometimes I think it is too wordy. Every graph has at least 1 full page describing in baby steps what is going on, I usually could get to the point with less than a paragraph. This is quite annoying since there is lot of material to read, and a good part of it is redundant.
4 of 6 people found the following review helpful.
Too expensive for a college textbook, though good quality.
By CBird
This first college edition textbook for Intermediate Microeconomics is good, I give it that. It does a decent job in taking a topic that is mind-numbingly confusing and making it marginally understandable.
However, it's only slightly better than Intermediate Microeconomics: A Modern Approach (Eighth Edition) by Hal R. Varian, who also does as good a job as can be expected of explaining the same mind-numbing material. This title only wins the "slightly better" endorsement because of the prettier graphics and more frequent side-notes. However, the concepts are EXACTLY the same, only slightly differing examples with fewer pictures in the Varian version.
Considering the astronomical difference in price, this sparkly new title just isn't worth it. How are students supposed to afford this? Unless your professor makes this title absolutely mandatory, I say go with the Varian book instead. You will learn all the exact same things, and save yourself a lot of $$$.
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