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Table of Contents

Part I: GETTING ACQUAINTED WITH ECONOMICS. 1. What Is Economics? 2. The Economy: Myth and Reality. 3. The Fundamental Economic Problem: Scarcity and Choice. 4. Supply and Demand: An Initial Look. Part II: THE BUILDING BLOCKS OF DEMAND AND SUPPLY. 5. Consumer Choice: Individual and Market Demand. 6. Demand and Elasticity. 7. Production, Inputs, and Cost: Building Blocks for Supply Analysis. 8. Output, Price, and Profit: The Importance of Marginal Analysis. 9. The Economics of the Stock Market. Part III: MARKETS AND THE PRICE SYSTEM. 10. The Firm and the Industry under Perfect Competition. 11. Monopoly. 12. Between Competition and Monopoly. 13. Limiting Market Power: Regulation and Antitrust. Part IV: THE VIRTUES AND LIMITATIONS OF MARKETS. 14. The Case for Free Markets I: The Price System. 15. The Shortcomings of Free Markets. 16. The Market's Prime Achievement: Innovation and Growth. 17. Externalities, the Environment and Natural Resources. 18. Taxation and Resource Allocation. Part V: THE DISTRIBUTION OF INCOME. 19. Pricing the Factors of Production. 20. Labor and Entrepreneurship: The Human Inputs. 21. Poverty, Inequality, and Discrimination. Part VI: THE MACROECONOMY: AGGREGATE SUPPLY AND DEMAND. 22. An Introduction to Macroeconomics. 23. The Goals of Macroeconomic Policy. 24. Economic Growth: Theory and Policy. 25. Aggregate Demand and the Powerful Consumer. 26. Demand-Side Equilibrium: Unemployment or Inflation? 27. Bringing in the Supply Side: Unemployment and Inflation? Part VII: FISCAL AND MONETARY POLICY. 28. Managing Aggregate Demand: Fiscal Policy. 29. Money and the Banking System. 30. Managing Aggregate Demand: Monetary Policy. 31. The Debate Over Monetary and Fiscal Policy. 32. Fiscal Policy, Monetary Policy, and Growth. 33. The Trade-off between Inflation and Unemployment. Part VIII: THE UNITED STATES IN THE WORLD ECONOMY. 34. International Trade and Comparative Advantage. 35. The International Monetary System: Order or Disorder? 36. Exchange Rates and the Macroeconomy.

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