Student's Guide

Following are links to chapter-by-chapter “guides for students,” to accompany the chapters in Microeconomic Foundations I: Choice and Competitive Markets. Each of these provides a brief summary of the corresponding text chapter and solutions to the starred problems in the text. The first link is to an introduction to these chapter-by-chapter guides; please follow this link and read that item if you are accessing this for the first time. Also, a link is provided corresponding to Appendix 6 of the book, which provides solutions to all the unsolved problems in that appendix. The final two links are to a list of errata that have been found in the text and a note concerning the so-called "Envelope Theorem."

You have permission to print copies of these chapters for your personal use. In addition, instructors of courses using Microeconomic Foundations I: Choice and Competitive Markets have permission to print multiple copies of these chapters to distribute to students in the course, to provide to course assistants, and/or to put on reserve for the use of students in such a course. Instructors also have permission to “cut-and-paste” solutions of individual problems for distribution to students. (If you are distributing “cut-and-paste copies,” you must include the copyright/permissions notice that appears on the first page of each chapter.) For all other uses, please obtain written (email) permission from David M. Kreps (

Using this Guide
Chapter 1: Choice, Preference, and Utility
Chapter 2: Structural Properties of Preferences and Utility Functions
Chapter 3: Basics of Consumer Demand
Chapter 4: Revealed Preference and Afriat’s Theorem
Chapter 5: Choice under Uncertainty
Chapter 6: Utility for Money
Chapter 7: Dynamic Choice
Chapter 8: Social Choice and Efficiency
Chapter 9: Competitive and Profit-Maximizing Firms
Chapter 10: The Expenditure- Minimization Problem
Chapter 11: Classic Demand Theory
Chapter 12: Producer and Consumer Surplus
Chapter 13: Aggregating Firms and Consumers
Chapter 14: General Equilibrium
Chapter 15: General Equilibrium, Efficiency and the Core
Chapter 16: General Equilibrium, Time, and Uncertainty
Appendix 6: Dynamic Programming 

An Instructor’s Manual is also available on the web, but access is limited to bona fide instructors of courses that use the text either as primary or as supplemental text. Further information about how to gain access to the Instructor's Manual, please click here or the "Request Instructor Access" link below.