Includes index.

Content: Part One: Introduction to economics and the economy -- Limits,alternatives, and Choices -- The market system and the circular flow -- Part Two: Price, quantity and efficiency -- Demand, supply and market equilibrium -- Market failures: public goods and externalities -- Government's role and government failure -- Part three: Consumer behavior -- Elasticity -- Utility maximization -- Behavioral economics -- Part four: Microeconomics of product markets -- Business and the cost of production -- Pure competition in the short run -- Pure competition in the long run -- Pure monopoly --Monopolistic competition and oligopoly -- Technology, r&d, and efficiency -- Part five: Microeconomics of resource markets and government -- The demand for resources -- Wage determination -- Rent, interest, and profit -- Natural resources and energy economics -- Public finance expenditures and taxes -- Part six: Microeconomics issues and policies -- Antitrust policy and regulation -- Agriculture: economics and policy -- Income inequality, poverty, and discrimination -- Health care -- Immigration -- Part seven : Gdp, growth, and instability -- An introduction to macroeconomics -- Measuring domestic output and national income -- Economic growth -- Business cycles, unemployment, and inflation -- Part eight: Macroeconomic models and fiscal policy -- Basic macroeconomic relationships -- The aggregate expenditures model -- Aggregate demand and aggregate supply -- Fiscal policy, deficits, and debt -- Part nine: Money, banking, and monetary policy -- Money, banking, and financial institutions -- Money creation -- Interest rates and monetary policy -- Financial economics -- Part ten : Extensions and issues -- Extending the analysis of aggregate supply -- Current issues in macro theory and policy -- Part eleven: International economics -- The balance of payments, exchange rates, and trade deficits -- The economics of developing counties -- The united states in the global economy -- Previous international exchange -rate systems.