Includes index.

Part I. Introduction. --1. Ten Principles of Economics -- 2. Thinking Like an Economist -- 3. Interdependence and the Gains from Trade -- Part II. How markets work -- 4. The Market Forces of Supply and Demand -- 5. Elasticity and Its Application -- 6. Supply, Demand, and Government Policies -- Part III. Markets and Welfare -- 7. Consumers, Producers, and the Efficiency of Markets -- 8. Application : The Costs of Taxation -- 9. Application : International Trade -- Part IV. The Economics of the Public Sector -- 10. Externalities -- 11. Public Goods and Common Resources -- 12. The Design of the Tax System -- Part V. Firm Behavior and the Organization of Industry -- 13. The Costs of Production -- 14. Firms in Competitive Markets -- 15. Monopoly -- 16. Monopolistic Competition -- 17. Oligopoly -- Part VI. The Economics of Labor Market -- 18. The Markets for the Factors of Production -- 19. Earnings and Discrimination -- 20. Income Inequality and Poverty -- Part VII. Topics for Further Study -- 21. The Theory of Consumer Choice -- 22. Frontiers in Microeconomics -- Part VIII. The Data of Macroeconomics -- 23. Measuring a Nation’s Income -- 24. Measuring the Cost of Living -- Part IX. The Real Economy in the Long Run -- 25. Production and Growth -- 26. Saving, Investment, and the Financial System -- 27. The basic tools of Finance -- 28. Unemployment -- Part X. Money and Prices in the Long Run -- 29. The Monetary System -- 30. Money Growth and Inflation -- Part XI. The Macroeconomics of Open Economics -- 31. Open-Economy Macroeconomics : Basic Concepts -- 32. A Macroeconomic Theory of the Open Economy -- Part XII. Short-Run Economic Fluctuations -- 33. Aggregate Demand and Aggregate Supply -- 34. The Influence of Monetary and Fiscal Policy on Aggregate Demand -- 35. The Short-Run Trade-off between Inflation and Unemployment -- Part XIII. Final Thoughts -- 36. Six Debates over Macroeconomic Policy.