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• Table of Contents

Table of Contents

PART I: GETTING ACQUAINTED WITH ECONOMICS.
1. What Is Economics?
2. The Economy: Myth and Reality.
3. The Fundamental Economic Problem: Scarcity and Choice.
4. Supply and Demand: An Initial Look.
PART II: THE BUILDING BLOCKS OF DEMAND AND SUPPLY.
5. Consumer Choice: Individual and Market Demand.
6. Demand and Elasticity.
7. Production, Inputs, and Cost: Building Blocks for Supply Analysis.
8. Output, Price, and Profit: The Importance of Marginal Analysis.
9. The Economics of the Stock Market.
PART III: MARKETS AND THE PRICE SYSTEM.
10. The Firm and the Industry under Perfect Competition.
11. Monopoly.
12. Between Competition and Monopoly.
13. Limiting Market Power: Regulation and Antitrust.
PART IV: THE VIRTUES AND LIMITATIONS OF MARKETS.
14. The Price System and the Case for Free Markets.
15. The Market Mechanism: Shortcomings and Remedies.
16. Innovation and Growth: The Free Market's Greatest Triumph.
17. Externalities, the Environment and Natural Resources.
18. Taxation and Resource Allocation.
PART V: THE DISTRIBUTION OF INCOME.
19. Pricing the Factors of Production.
20. Labor: The Human Input.
21. Poverty, Inequality, and Discrimination.
PART VI: THE MACROECONOMY: AGGREGATE SUPPLY AND DEMAND.
22. The Realm of Macroeconomics.
23. The Goals of Macroeconomic Policy.
24. Economic Growth: Theory and Policy.
25. Aggregate Demand and the Powerful Consumer.
26. Demand-Side Equilibrium: Unemployment or Inflation?
27. Supply-Side Equilibrium: Unemployment and Inflation?
PART VII: FISCAL AND MONETARY POLICY.
28. Managing Aggregate Demand: Fiscal Policy.
29. Money and the Banking System.
30. Monetary Policy and the National Economy.
31. The Debate Over Monetary and Fiscal Policy.
32. Fiscal Policy, Monetary Policy, and Growth.
33. Inflation and Growth: The Phillips Curve.
PART VIII: THE UNITED STATES IN THE WORLD ECONOMY.
34. International Trade and Comparative Advantage.
35. The International Monetary System: Order or Disorder?
36. Exchange Rates and the Macroeconomy.