Includes index.

Includes bibliographical references and index.

Contents: Introduction: What is economics? -- The Economic problem -- How Markets work: Demand and supply -- Elasticity -- Efficiency and equity -- Government actions in markets -- Global markets in action -- Households' choice: Utility and demand -- Possibilities, preferences and choices -- Firms and markets: Organizing production -- Output and costs -- Perfect competition -- Monopoly -- Monopolistic competition -- Oligopoly -- Market failure and government : Externalities -- Public goods and common resources -- Factor markets, inequality and uncertainty: Makets for factors of production -- Economic inequality -- Uncertainty and information -- Monitoring macroeconomic trends and fluctuations: Measuring GDP and economic growth -- Monitoring jobs and inflation -- Macroeconomic trends: Economic growth -- Finance, saving and investment -- Money, the price level and inflation -- The Exchange rate and the balance of payments -- Macroeconomic Fluctuations: Aggregate supply and aggregate demand -- Expenditure multipliers: The Keynesian model -- U.S inflation, unemployment and business cycle -- Macroeconomic policy: Fiscal policy -- Monetary policy.