Table of Contents

PART 1: INTRODUCTION

1. Getting Started

2. The US and Global Economies

3. The Economic Problem

4. Demand and Supply

 

PART 2: A CLOSER LOOK AT MARKETS

5. Elasticities of Demand and Supply

6. Efficiency of Fairness and Markets

 

PART 3: HOW GOVERNMENTS INFLUENCE THE ECONOMY

7. Government Actions in Markets

8. Taxes

9. Global Markets in Action

 

PART 4: MARKET FAILURES AND PUBLIC POLICY

10. Externalities

11. Public Goods and Common Resources

12. Private Information and Healthcare Markets

 

PART 5: A CLOSER LOOK AT DECISION MAKERS

13. Consumer Choice and Demand

14. Production and Cost

 

PART 6: PRICES, PROFITS, AND INDUSTRY PERFORMANCE

15. Perfect Competition

16. Monopoly

17. Monopolistic Competition

18. Oligopoly

 

PART 7: INCOMES AND INEQUALITY

19. Markets for Factors of Production

20. Economic Inequality

 

PART 8: MONITORING THE MACROECONOMY

21. GDP: A Measure Of Total Production and Income

22. Jobs and Unemployment

23. The CPI and the Cost of Living

 

PART 9: THE REAL ECONOMY

24. Potential GDP and the Natural Unemployment Rate

25. Economic Growth

26. Finance, Saving, and Investment

 

PART 10: THE MONEY ECONOMY

27: The Monetary System

28: Money, Interest, and Inflation

 

PART 11: ECONOMIC FLUCTUATIONS

29. Aggregate Supply and Aggregate Demand

30. Aggregate Expenditure Multiplier

31. The Short-Run Policy Tradeoff

 

PART 12: MACROECONOMIC POLICY

32. Fiscal Policy

33. Monetary Policy

34. International Finance