Includes glossary and index.

Contents: Part 1: Introduction: 1. What is economics? -- 2. The economic problem -- Part 2: How markets work: 3. Demand and supply -- 4. Elasticity -- 5. Efficiency and equity -- 6. Markets in action -- Part 3: Households' choice -- 7. Utility and demand -- 8. Possibilities, Preferences, and choices -- Part 4: Firms and markets: 9. Organizing production -- 10. Output and costs -- 11. Perfect competition -- 12 Monopoly -- 13. Monopolistic competition and oligopoly -- Part 5: Market failue and government: -- 14. Regulation and antitrust law -- 15. Externalities -- 16. Public goods and common resources -- Part 6: Factor markets, inequality, and uncertainty: 17. Markets for factors of production -- 18. Economic inequality -- 19. Uncertainty and information -- Macroeconomic overview: 20. A first look at macroeconomics -- 21. Measuring GDP and economic -- 22. Monitoring jobs and the price level -- Part 8: The economy in the long run: 23. At full employment: the classical model -- 24. Economic growth -- 25. Money, the price level, and inflation -- 26. The exchange rate and the balance of payments -- Part 9: The economy in the short run: 27. Aggregate supply and aggregate demand -- 28. Expenditure multipliers: the Keynesian model -- 29. U.S. inflation, unemployment, and business cycles -- Part 10: Macroeconomic policy -- 30. Fiscal policy -- 31. Monetary policy -- Part 11. The global economy: 32. Trading with the world.