Part I Introduction

1: Five Foundations of Economics

2: Model Building and Gains from Trade

Appendix 2A: Graphs in Economics

 

Part II The Role of Markets

3: The Market at Work: Supply and Demand

Appendix 3A: Changes in Both Demand and Supply

4: Elasticity

5: Market Outcomes and Tax Incidence

6: Price Controls

7: Market Inefficiencies: Externalities and Public Goods

 

 

 

Part III The Theory of the Firm

8: Business Costs and Production

9: Firms in a Competitive Market

10: Understanding Monopoly

11: Price Discrimination

12: Monopolistic Competition and Advertising

13: Oligopoly and Strategic Behavior

 

Part IV Labor Markets and Earnings

14: The Demand and Supply of Resources

15: Income, Inequality, and Poverty

 

Part V Special Topics in Microeconomics

16: Consumer Choice

Appendix 16A: Indifference Curve Analysis

17: Behavioral Economics and Risk Taking

18: Health Insurance and Health Care

 

Part VI Macroeconomic Basics

19: Introduction to Macroeconomics and Gross Domestic Product

20: Unemployment

21: The Price Level and Inflation

22: Savings, Interest Rates, and the Market for Loanable Funds

23: Financial Markets and Securities

 

Part VII The Long and Short of Macroeconomics

24: Economic Growth and the Wealth of Nations

25: Growth Theory

26: The Aggregate Demand–Aggregate Supply Model

27: Recessions, Expansions, and the Debate over How to Manage Them

Appendix 27A: The Aggregate Expenditures Model

 

Part VIII Fiscal Policy

28: Federal Budgets: The Tools of Fiscal Policy

29: Fiscal Policy

 

Part IX Monetary Policy

30: Money and the Federal Reserve

31: Monetary Policy

 

Part X International Economics

32: International Trade

33. International Finance