Includes index.

Contents:The Scope and method of economics -- The Economic problem : scarcity and choice -- Demand, supply, and market equilibrium -- Demand and supply applications -- Introduction to macroeconomics -- Measuring national output and national income -- Unemployment, inflation, and long-run growth -- Aggregate expenditure and equilibrium output -- The Government and fiscal policy -- The Money supply and the Federal Reserve System -- Money demand and the equilibrium interest rate -- Aggregate demand in the goods and money markets -- Aggregate supply and the equilibrium price level -- The labor market in the macroeconomy -- Policy timing, deficit targeting, and stock market effects -- Household and firm behavior in the macro economy : a further look -- Long-run growth -- Debates in macroeconomics : monetarism, new classical theory, and supply-side economics -- International trade, comparative advantage, and protectionism -- Open-economy macroeconomics : the balance of payments and exchange rates -- Economic growth in developing and transitional economies.