Includes index.

Content: The economy challenge: Economics: The core issues -- The U.S. economy: A global view -- Supply and demand -- The role of government -- Measuring macro outcomes: National income accounting -- Unemployment -- Inflation -- Cyclical instability: The business cycle -- Aggregate demand -- Self adjustment or instability? -- Fiscal policy tools: Fiscal policy -- deficit and debt -- Monetary policy options: Money and banks -- The federal reserve system -- Monetary policy -- Supply-side options: Supply-side policy: Short-run options -- Growth and productivity: Long-run possibilities -- Policy constraints: Theory versus reality -- Product markets: The basics: Consumer choice -- Elasticity -- The costs of production -- Market Structure: The competitive firm -- Competitive markets -- Monopoly -- Oligopoly -- Monopolistic competition -- Regulatory issues: Natural monopolies: (de)regulation? -- Environmental protection -- The farm problem -- Factor markets: Basic theory: The labor market -- Labor units -- Financial markets -- Distributional issues: Taxes: Equity versus efficiency -- Transfer payments: Welfare and social security -- International economics: International trade -- International finance -- Global poverty.