Table of Contents

1. Supply, Demand, and Equilibrium.

2. Prices, Costs, and the Gains from Trade.

3. The Behavior of Consumers.

4. Consumers in the Marketplace.

5. The Behavior of Firms.

6. Production and Costs.

7. Competition.

8. Welfare Economics and the Gains from Trade.

9. Knowledge and Information.

10. Monopoly.

11. Market Power, Collusion, and Oligopoly.

12. The Theory of Games.

13. External Costs and Benefits.

14. Common Property and Public Goods.

15. The Demand for Factors of Production.

16. The Market for Labor.

17. Allocating Goods Over Time.

18. Risk and Uncertainty.

19. What is Economics?

Appendix A. Calculus Supplement.

Appendix B. Answers to Exercises.

Appendix C. Answers to Problem Sets.