Includes index.

Contents: Introduction and key principles: Introduction: What is economics? -- The Key principles of economics -- Exchange and markets -- Demand, supply and market equilibrium -- A Closer look at demand and supply: Elasticity: A Measure of responsiveness -- Market efficiency and government intervention -- Consumer choice using utility theory -- Market Structures and pricing: Production technology and cost -- Perfect competition -- Monopoly and price discrimination -- Market entry and monopolistic competition -- Oligopoly and strategic behavior -- Controlling market power: Antitrust and regulation -- Externalities and information: Imperfect information Adverse selection and moral hazard -- Public goods and public choice -- External costs and environmental policy -- The Labor market and income distribution: The Labor market, income and poverty -- Unions, monopsony and imperfect information.