This text seeks to teach introductory students the core economic concepts: the essence of economics, without overwhelming them with details. "Principles of Microeconomics" presents the material in an intuitive way that avoids excessive maths. The authors introduce a short list of core principles, reinforce them by illustrating and applying each principle in several contexts, and then ask students to work exercises to see what they have learned. The text seeks to create "economic naturalists", that is, after reading the text, students will ask (and answer) questions about their economic environment. For example, students will see Braille dots on drive-up ATMs and ask why they are there. Peppered with such examples, Frank and Bernanke not only engage students, but teach them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation.
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Robert H. Frank received his B.S. in mathematics from Georgia Tech in 1966, then taught math and science for two years as a Peace Corps Volunteer in rural Nepal. He received his M.A. in statistics from the University of California at Berkeley in 1971, and his Ph.D. in economics in 1972, also from U.C. Berkeley. He is the Goldwin Smith Professor of Economics at Cornell University, where he has taught since 1972 and where he currently holds a joint appointment in the department of economics and the Johnson Graduate School of Management. During leaves of absence from Cornell, he served as chief economist for the Civil Aeronautics Board from 1978 to 1980 and was a Fellow at the Center for Advanced Study in the Behavioral Sciences in 1992-93. He has published on a variety of subjects, including price and wage discrimination, public utility pricing, the measurement of unemployment spell lengths, and the distributional consequences of direct foreign investment. For the past several years, his research has focused on rivalry and cooperation in economic and social behavior. His books on these themes include Choosing the Right Pond: Human Behavior and the Quest for Status (Oxford University Press, 1985) and Passions Within Reason: The Strategic Role of the Emotions (W.W. Norton, 1988). He and Philip Cook are co-authors of The Winner-Take-All Society (The Free Press, 1995) , which received a Critic's Choice Award and appeared on both the New York Times Notable Books list and Business Week Ten Best list for 1995. His most recent general interest publication is Luxury Fever (The Free Press, 1999). Professor Frank's books have been translated into eight languages. He has been awarded an Andrew W. Mellon Professorship (1987 -- 1990), a Kenan Enterprise Award (1993), and a Merrill Scholars Program Outstanding Educator Citation (1991).
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