PART 1 Introduction

1 Thinking Like an Economist

2 Comparative Advantage

3 Supply and Demand

PART 2 Competition and the Invisible Hand

4 Demand and Elasticity

5 Perfectly Competitive Supply

6 Efficiency, Exchange, and the Invisible Hand in Action

PART 3 Market Imperfections

7 Monopoly, Oligopoly, and Monopolistic Competition

8 Games and Strategic Behavior

9 Externalities and Property Rights

PART 4 Economics of Public Policy

10 Using Economics to Make Better Policy Decisions

PART 5 Macroeconomics: Data and Issues

11 Spending, Income, and GDP

12 Inflation and the Price Level

13 Wages and Unemployment

PART 6 The Economy in the Long Run

14 Economic Growth

15 Saving, Capital Formation, and Financial Markets

16 Money, Prices, and the Financial System

PART 7 The Economy in the Short Run

17 Short-Term Economic Fluctuations

18 Spending, Output, and Fiscal Policy

19 Monetary Policy and the Federal Reserve

20 Aggregate Demand, Aggregate Supply, and Stabilization Policy

PART 8 The International Economy

21 Exchange Rates, International Trade, and Capital Flows