Table of Contents :



Part One: Basic Concepts

1 The Fundamentals of Economics

Appendix 1 How to Read Graphs

2 Markets and Government in a Modern Economy

3 Basic Elements of Supply and Demand

Part Two: Microeconomics: Supply, Demand, and Product Markets

4 Applications of Supply and Demand

5 Demand and Consumer Behavior

Appendix 5 Geometrical Analysis of Consumer Equilibrium

6 Production and Business Organization

7 Analysis of Costs

Appendix 7 Production, Cost Theory, and Decision of the Firm

8 Analysis of Perfectly Competitive Markets

9 Competition and Its Polar Case of Monopoly

10 Oligopoly and Monopolistic Competition

11 Uncertainty and Game Theory

Part Three: Factor Markets: Labor, Land, and Capital

12 How Markets Determine Incomes

13 The Labor Market

14 Land and Capital

Appendix 14 Markets and Economic Efficiency

Part Four: Applied Microeconomics: International Trade, Government, and the Environment

15 Comparative Advantage and Protectionism

16 Government Taxation and Expenditure

17 Promoting More Efficient Markets

18 Protecting the Environment

19 Efficiency vs. Equality: The Big Tradeoff

Part Five: Macroeconomics: Economic Growth and Business Cycles

20 Overview of Macroeconomics

Appendix 20 Macroeconomic Data

21 Measuring Economic Activity

22 Consumption and Investment

23 Business Fluctuations and the Theory of Aggregate Demand

24 The Multiplier Model

25 Money, Banking, and Financial Markets

26 Central Banking and Monetary Policy

Part Six: Economic Growth and Macroeconomic Policy

27 The Process of Economic Growth

28 The Challenge of Economic Development

29 Exchange Rates and the International Financial System

30 Open-Economy Macroeconomics

Part Seven: Unemployment, Inflation, and Economic Policy

31 Unemployment and the Foundations of Aggregate Supply

32 Ensuring Price Stability

33 The Warring Schools of Macroeconomics

34 Policies for Growth and Stability