Table of Contents

Contents of Indian Adaptation A Centrist Proclamation Preface Preface to the Indian Adaptation For the Student: Economics and Internet Useful Websites on Indian Economy Part 1 Basic Concept 1. The Central Concepts of Economics * Appendix 2. The Modern Mixed Economy 3. Basic Elements of Supply and Demand * Appendix 3 Part 2 Microeconomics: Supply, Demand, andProduct Markets 4. Supply and Demand: Elasticity and Applications 5. Demand and Consumer Behavior * Appendix 5 6. Production and Business Organization 7. Analysis and Costs * Appendix 7 8. Analysis of Perfectly Competitive Markets 9. Imperfect Competition and Monopoly 10. Competition Among the Few 11. Economics of Uncertainty Part 3 Factor Markets: Labor, Land, and Capital 12. How Markets Determine Incomes 13. The Labor Market 14. Land, Natural Resources, and the Environment 15. Capital, Interest, and Profits Part 4 Applications ofEconomic Principles 16. Government Taxation and Expenditure * Appendix 16 17. Efficiency vs. Equality: The Big Tradeoff * Appendix 17 18. International Trade * Appendix 18 Part 5 Macroeconomics: Economic Growth andBusiness Cycles 19. Overview of Macroeconomics * Appendix 19 20. Measuring Economic Activity * Appendix 20 21. Consumption and Investment * Appendix 21 22. Business Cycles and Aggregate Demand * Appendix 22 23. Money and the Financial System * Appendix 23 24. Monetary Policy and the Economy * Appendix 24 Part 6 Growth, Development, and the Global Economy 25. Economic Growth * Appendix 25 26. The Challenge of Economic Development * Appendix 26 27. Exchange Rates and the International Financial System * Appendix 27 28. Open-Economy Macroeconomics * Appendix 28 Part 7 Unemployment, Inflation, and Economic Policy 29. Unemployment and the Foundations of Aggregate Supply * Appendix 29 30. Inflation * Appendix 30 31. Frontiers of Macroeconomics Glossary of Terms Index