Content: Introduction: What is economics -- Graphs in economics -- The economic problem -- Wrap up: understanding the scope of economics -- How markets work: Demand and supply -- Elasticity -- Efficiency and equity -- Government actions in markets -- Global markets in action -- Wrap up: understanding how markets work -- Households choices: Utility and demand -- Possibilities, preferences and choices -- Wrap up: understanding households' choices -- Firms and markets: Organizing production -- Output and costs -- Perfect competition -- Monopoly -- Monopolistic competition -- Oligopoly -- Wrap up: understanding firms and markets -- Market failure and government: Externalities -- Public goods and common resources -- Wrap up: understanding market failure and government -- Factor markets and inequality: Markets for factors of production -- Economic inequality -- Wrap up: understanding factor markets and inequality -- Monitoring macroeconomic trends and fluctuations: Measuring GDP and economic growth -- Monitoring jobs and inflation -- Wrap up: monitoring macroeconomic trends and fluctuations -- Macroeconomic trends: Economic growth -- Finance, saving and investment -- Money, the price level, and inflation -- The Exchange rate and the balance of payments -- Wrap up: macroeconomic trends -- Macroeconomic fluctuations: Aggregate supply and aggregate demand -- Expenditure multipliers: the keynesian model -- Canadian inflation, unemployment, and business cycle -- Wrap up: understanding macreconomic fluctuations -- Macroeconomic policy: Fiscal policy -- Monetary policy -- Wrap up: Understanding macroeconomic policy.