Includes bibliographical references and index.

Contents: Introduction: Thinking like an economist: Economics and economic reasoning -- Trade, trade-offs and government policy -- The Evolving U.S. economy in perspective -- Supply and demand -- Using supply and demand -- Microeconomics: Microeconomics: The Basics -- Taxation and government intervention -- Foundations of supply and demand: The Logic of individual choice: The Foundation of supply and demand -- Production and cost analysis I -- Production and cost analysis II -- Market structure and policy: Perfect competition -- Monopoly -- Monopolistic competition, oligopoly and strategic pricing -- Real world competition and technology -- Antitrust policy and regulation -- Factor markets: Work and the labour market -- Who gets what? The Distribution of income -- Applying economic reason to policy: Government policy and market failures -- Politics and economics: The Case of agricultural markets -- Microeconomic policy, economic reasoning and beyond -- International trade policy, comparative advantage and outsourcing -- Macroeconomics: Macroeconomic problems -- Economic growth, business cycles, unemployment and inflation --- National income accounting -- The Macroeconomic framework: Growth, productivity and the wealth of nations -- Aggregate demand, aggregate supply and modern macroeconomics -- The Multiplier model -- Money, inflation, and monetary policy: Money, banking and the financial sector -- Monetary policy and the debate about macro policy -- Inflation and its relationship to unemployment and growth -- Macro policy in perspective: Aggregate demand policy in perspective -- Macro policies in developing countries -- International policy issues: International financial policy -- Macro policy in a global setting -- Bonus web Chapter: Nonwage and asset income: Rents, profits and interest -- Glossary.