Includes index.

Introduction: Thinking Like an economist -- Supply and demand -- The Theory of consumer behavior: Rational consumer choice -- Individual and market demand -- Applications of rational choice and demand theories -- The Economics of information and choice under uncertainty -- Departures from standard rational choice models (with and without regret) -- The Theory of the firm and market structure: Production -- Costs -- Perfect competition -- Monopoly -- A Game-Theoretic approach to strategic behavior -- Oligopoly and monopolistic competition -- Factor markets: Labor -- Capital -- General equilibrium and welfare: Externalities, property rights, and the Coase theorem -- General equilibrium and market efficiency -- Government --

"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"-- Provided by publisher.

"My goal in writing Microeconomics and Behavior was to produce an intellectually challenging text that would also be accessible and engaging to students. Microeconomics and Behavior develops the core analytical tools with patience and attention to detail. At the same time, it embeds these tools in a uniquely diverse collection of examples and applications to illuminate the power and versatility of the economic way of thinking. In more than 40 years of teaching, I have found no more effective device for developing intuition than to train students to become "Economic Naturalists." Studying biology enables people to observe and marvel at many details of life that would otherwise have escaped notice. In much the same way, studying microeconomics can enable students to see the mundane details of ordinary existence in a sharp new light. Throughout the text, I try to develop intuition by means of examples and applications drawn from everyday experience. Microeconomics and Behavior teaches students to see each feature of the manmade landscape as the reflection of an implicit or explicit cost-benefit calculation"-- Provided by publisher.