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Microeconomics and Behavior
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Student Edition
Instructor Edition
Microeconomics and Behavior, 8/e

Robert H. Frank, Cornell University

ISBN: 0073375942
Copyright year: 2010

Feature Summary



  • Economic Naturalism: The Economics Naturalist feature of Bob Frank's principles book is also part of Microeconomics and Behavior. The concept aims to teach students to use economic principles to explain everyday details of ordinary existence. Throughout the text, Economic Naturalist examples help develop economic intuition and demonstrate the relevance of economics. Examples show how basic microeconomic principles can help answer such questions as:

    • Why has the demand for luxury grills grown so rapidly in recent years?
      Why do doctors and lawyers often offer discounts to people with low incomes?
      Why do lawyers in small towns buy cheaper suits than their counterparts in big cities?
      Why might a firm build a bigger factory than it would ever need?
      Why is it so hard to find a taxi on rainy days?

    The book aims not just to enable students to apply economic concepts to such questions, but also to instill in them an inclination to do so.

  • Business Examples: In order to make Microeconomics and Behavior even more relevant for business majors, the text contains more examples that relate to business issues. The Economic Naturalist tackles such questions as:

    • Why do some amusement parks charge only a fixed admissions fee, with no additional charge even for rides with long lines?
      Why do builders use prefabricated frames for roofs but not for walls?
      Why do color photographs cost less than black-and-white ones?
      Why do theater owners offer students discounts on admission tickets but not on popcorn?

  • Useful Appendixes: These include the utility function approach to the consumer budgeting problem, additional topics in demand theory, additional applications of rational choice theory, search theory, production theory, cost theory, additional models of monopolistic competition, and a more detailed look at exhaustible resource allocation. The inclusion of this material offers instructors unmatched latitude in their choice of technical level and topic coverage. Those who desire to teach a calculus-based course will find comprehensive coverage of optimization theory in the appendices to Chapters 3, 9, and 10. Starred problems that require calculus are included in the end-of-chapter problem sets.
  • Design: The text boasts a four-color design modeled after the successful Frank/Bernanke Principles of Economics text. An extensive collection of photos illustrate the Examples and the Economic Naturalist features. The attractive look of the book will aid students in their understanding and motivate them to read.
  • An exceptionally clear writing style engages students in the fundamentals of microeconomics.
  • The generous use of worked examples and exercises promotes a solid understanding of economic principles. These are clearly indicated in the table of contents.
  • End-of-chapter exercises and problems closely linked with the text's concepts and examples help students more readily relate the economic concepts to the pedagogy.
  • Bonus Online Chapter: A chapter on General Equilibrium and Market Efficiency is included on the Online Learning Center, keeping the text concise while offering professors the option to cover the chapter.

Instructors: To experience this product firsthand, contact your McGraw-Hill Education Learning Technology Specialist.