Table of Contents
PART I: INTRODUCTION TO ECONOMICS. 1. Introducing the Economic Way of Thinking. 2. Production Possibilities and Opportunity Cost. PART II: THE MICROECONOMY. 3. Market Supply and Demand. 4. Markets in Action. 5. Price Elasticity of Demand. 6. Production Costs. 7. Perfect Competition. 8. Monopoly. 9. Monopolistic Competition and Oligopoly. 10. Labor Markets and Income Distribution. PART III. THE MACROECONOMY AND FISCAL POLICY. 11. Gross Domestic Product. 12. Business Cycles and Unemployment. 13. Inflation. 14. Aggregate Demand and Supply. 15. Fiscal Policy. 16. The Public Sector. 17. Federal Deficits, Surpluses, and the National Debt. PART IV: MONEY, BANKING, AND MONETARY POLICY. 18. Money and the Federal Reserve System. 19. Money Creation. 20. Monetary Policy. PART V: THE INTERNATIONAL ECONOMY. 21. International Trade and Finance. 22. Economics in Transition.