In this article, we review economic theories and empirical studies on the socioeconomic aspects of suicide. Through our survey, we would like to emphasize the importance of studying suicide by employing a "rational" approach that complements the medical perspective on suicide, which assumes suicide to be the result of "irrational" behavior arising from mental illnesses such as depression and other psychiatric disorders. We first introduce major economic theories of suicide, followed by a summary of a variety of empirical studies from the socioeconomic perspective. We then discuss the recent developments in economic studies on suicide, on the basis of the authors' ongoing project on suicide. In the concluding section, we point out some issues for further studies.