Includes glossary and index

Contents: Economics as a social science -- Exploring the emerging global economy -- The evolution of economic systems -- Adam Smith,classical liberalism,and the division of labor -- Karl marx and the socialist critique of capitalism -- The rise and fall of laissez-faire in the U.S economy -- Scarcity:''you can't always get what you want'' -- The theory of markets -- Perfect competition and efficiency -- Noncompetitive markets and inefficiency -- Resource markets and the distrubution of income -- Corporation and labor union -- The economic role of government -- Macroeconomics:issue and problems -- Macroeconomic -- Macroeconomic theory:classical and Keynesian models -- Fiscal policy:government spending and taxation -- Financial markets,money,and monetary policy -- Aggregate demand and aggregate supply -- Unemployment,inflation,and stabilization policy in a global economy -- Internation trade and interdependence -- Internation finance -- The economics of developing nations -- Economies in transition