Microeconomics and Behavior

Robert Frank's Microeconomics and Behavior covers the essential topics of microeconomics while exploring the relationship between economic analysis and human behavior. Core analytical tools are embedded in a uniquely diverse collection of examples and applications to illuminate the power and versatility of the economic way of thinking. Students are encouraged to become “Economic Naturalists” who see the mundane details of ordinary existence in a sharp new light.

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Part 1: Introduction

1. Thinking Like an Economist

2. Supply and Demand

Appendix: How Do Taxes Affect Equilibrium Prices and Quantities?

Part 2: The Theory of Consumer Behavior

3. Rational Consumer Choice

Appendix: The Utility Function Approach to the Consumer Budgeting Problem

4. Individual and Market Demand

Appendix: Additional Topics in Demand Theory

5. Applications of Rational Choice and Demand Theories

6. The Economics of Information and Choice Under Uncertainty

Appendix: Search Theory and the Winner’s Curse

7. Departures from Standard Rational Choice Models (with and without Regret)

Part 3: The Theory of the Firm and Market Structure

8. Production

Appendix: Mathematical Extensions of Production Theory

9. Costs

Appendix: Mathematical Extensions of the Theory of Costs

10. Perfect Competition

11. Monopoly

12. A Game-Theoretic Approach to Strategic Behavior

13. Oligopoly and Monopolistic Competition

Part 4: Factor Markets

14. Labor

Appendix: The Economics of Workplace Safety

15. Capital

Appendix: A More Detailed Look at Exhaustible Resource Allocation

Part 5: General Equilibrium and Welfare

16. Externalities, Property Rights, and the Coase Theorem

17. General Equilibrium and Market Efficiency

18. Government

Web Chapter: Explaining Tastes: The Importance of Altruism and Other Nonegoistic Behavior

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