Includes index

Contents: Part I. Introduction to economics: Introducing the economic way of thinking -- Production possibilities, opportunity cost and economic growth -- Part II. Macroeconomic fundamentals: Market demand and supply --- Markets in action -- Part III. Macroeconomic fundamentals: Gross domestic product -- Business cycles and unemployment -- Inflation -- Part IV. Macroeconomic theory and policy: The Keynesian model -- The Keynesian model in action -- Aggregate demand and supply -- Fiscal policy -- The public sector -- Federal deficits, surpluses and the national debt -- Part V. Money, banking and monetary policy: Money and the federal reserve system -- Money creation -- Monetary policy -- The Phillips Curve and Expectations Theory -- Part VI: The international economy: International trade and finance -- Economies in transition -- Growth and the Less-Developed countries -- Appendices: Answers to odd-numbered study questions --- Glossary