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 8

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