The purpose of this book is to help students learn the fundamental lessons of economics and to show how they can apply these lessons to their lives and to the world in which they live.



Contents:

Part 1. Introduction

Chapter 1. Ten principles of economics

Chapter 2. Thinking like an economist

Chapter 3. Interdependence and the gains from trade



Part 2. How markets work

Chapter 4. The market forces of supply and demand

Chapter 5. Elasticity and its application

Chapter 6. Supply, demand, and government policies



Part 3. Markets and welfare

Chapter 7. Consumers, producers, and the efficiency of markets

Chapter 8. Application : The costs of taxation

Chapter 9. Application : International trade



Part 4. The economics of the public sector

Chapter 10. Externalities

Chapter 11. Public goods and common resources

Chapter 12. The design of the tax system



Part 5. Firm behavior and the organization of industry

Chapter 13. The costs of production'

Chapter 14. Firms in competitive markets

Chapter 15. Monopoly

Chapter 16. Oligopoly

Chapter 17. Monopolistic competition

Part 6. The economics of labor markets

Chapter 18. The markets for the factors of production

Chapter 19. Earnings and sicrimination

Chapter 20. Income inequality and poverty



Part 7. Topics for further study

Chapter 21. The theory of consumer choice

Chapter 22. Frontiers of microeconomics



Index