Includes index

Contents: Introduction: Thinking like an economist -- Comparative advantage: the basis for exchange -- Supply and demand: an introduction -- Competition and the invisible hand: Demand: The benefit side of the market -- Production and cost: the supply side in the short run -- Production, cost and the quest for profit: the supply side in the long run -- Efficiency and exchange -- Market imperfections: Monopoly and other forms of imperfect competition -- Thinking strategically -- Externalities and property rights -- The economics of information -- Labour markets and the public sector: Labour markets -- Income distribution -- Public goods -- International trade and trade policy.