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Microeconomics and Behavior
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Robert Frank's Microeconomics and Behavior covers microeconomic topics while exploring the relationship between economic analysis and human behavior. Written in a way that is intellectually challenging, but also accessible and engaging to students. 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.
Connect Economics, McGraw Hill's online assignment and assessment tool, aligned to Frank provides assignable, auto-gradable versions of end-of-chapter problems in static and algorithmic format, as well as test bank content and graphing problems.Students receive detailed step-by-step feedback on assignments and assignable content is fully integrated with the eBook. Students are also able to search,highlight, and take notes within the ReadAnywhere eBook and complete SmartBook 2.0 assignments offline. Frank also features a unique Economic Naturalist video series that brings examples to life showing interesting applications of economic concepts. Connect provides instructors with powerful reporting tools allowing them to plan,track, and analyze student performance across learning outcomes.
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 Behavior13. 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 Efficiency18. Government
Web Chapter: Explaining Tastes: The Importance of Altruism and Other Nonegoistic Behavior
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 Behavior13. 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 Efficiency18. Government
Web Chapter: Explaining Tastes: The Importance of Altruism and Other Nonegoistic Behavior
Appendix: Mathematical Extensions of the Theory of Costs 10. Perfect Competition 11. Monopoly 12. A Game-Theoretic Approach to Strategic Behavior13. 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 Efficiency18. Government
Web Chapter: Explaining Tastes: The Importance of Altruism and Other Nonegoistic Behavior
11. Monopoly 12. A Game-Theoretic Approach to Strategic Behavior13. 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 Efficiency18. Government
Web Chapter: Explaining Tastes: The Importance of Altruism and Other Nonegoistic 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 Efficiency18. Government
Web Chapter: Explaining Tastes: The Importance of Altruism and Other Nonegoistic Behavior
17. General Equilibrium and Market Efficiency18. Government
Web Chapter: Explaining Tastes: The Importance of Altruism and Other Nonegoistic Behavior
About the Author
Robert Frank
Professor Heffetz received his B.A. in physics and philosophy from Tel Aviv University in 1999 and his Ph.D. in economics from Princeton University in 2005. He is an Associate Professor of Economics at the Samuel Curtis Johnson Graduate School of Management at Cornell University, where he has taught since 2005. Bringing the real world into the classroom, Professor Heffetz has created a unique macroeconomics course that introduces basic concepts and tools from economic theory and applies them to current news and global events. His popular classes are taken by hundreds of students every year, on the Cornell Ithaca campus and, via live videoconferencing, in dozens of cities across the U.S., Canada, and beyond. Professor Heffetz’s research studies the social and cultural aspects of economic behavior, focusing on the mechanisms that drive consumers’ choices and on the links between economic choices, individual well-being, and policymaking. He has published scholarly work on household consumption patterns, individual economic decision making, and survey methodology and measurement. He was a visiting researcher at the Bank of Israel during 2011, is currently a Faculty Research Fellow at the National Bureau of Economic Research (NBER), and serves on the editorial board of Social Choice and Welfare.
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