Includes index and glossary.

Contents: Introduction to economics: The central idea -- Observing and explaining the economy -- The supply and demand model -- Elasticity and its uses -- Principles of macroeconomics: Macroeconomics: The big picture -- Measuring the production, income and spending of nations -- The spending allocation model -- Unemployment and employment -- Productivity and economic growth -- Money and inflation -- Economic fluctuations and macroeconomic policy: The nature and causes of economic fluctuations -- The economic fluctuations model -- Using the economic fluctuations model -- Fiscal policy -- Monetary policy -- Financial markets -- Trade and global markets: Economic growth around the world -- The gains from international trade policy -- Transition economics.