PART 1 Introduction

1 Thinking Like an Economist

2 Comparative Advantage

PART 2 Markets

3 Supply and Demand

4 Elasticity

5 Efficiency and Exchange

6 Costs of Production

7 Perfect Competition

PART 3 Market Imperfections

8 Monopoly, Oligopoly, and Monopolistic Competition

9 Games and Strategic Behavior

10 Externalities and Property Rights

11 The Economics of Information

PART 4 Economics of Public Policy

12 Labor Markets, Poverty, and Income Distribution

13 Public Goods and Tax Policy

PART 5 Macroeconomics: Data and Issues

14 Spending, Income, and GDP

15 Inflation and the Price Level

16 Wages and Unemployment

PART 6 The Economy in the Long Run

17 Economic Growth

18 Saving, Capital Formation, and Financial Markets

19 The Financial System, Money, and Prices

PART 7 The Economy in the Short Run

20 Short-Term Economic Fluctuations

21 Spending and Output in the Short Run

22 Stabilizing the Economy: The Role of the Central Bank

23 Aggregate Demand and Aggregate Supply

24 Macroeconomic Policy  

PART 8 The International Economy

25 Exchange Rates and the Open Economy

26 International Trade and Capital Flows

Glossary

Index