Includes index

Contents: Introduction: Thinking like an economist -- Comparative advantage: The Basis for exchange -- Supply and demand: An Introduction -- Macroeconomics: Issues and data: Macroeconomics: The Bird's eye view of the economy -- Measuring economic activity: GDP and unemployment -- Measuring the price level and inflation -- The economy in the short run: Short- term economic fluctuation: An introduction -- Spending and output in the short run -- Stabilizing the economy: The Role of the central bank -- The Aggregate demand - Aggregate supply model -- Inflation and Output -- Exchange rates and the open economy -- Money: its uses and creation -- The Economy in the long run: Economic growth, productivity and living standards -- International trade and trade policy -- Saving and capital formation -- Financial markets and international capital flows.