Includes index.

Contents: Ten principles of economics -- Thinking line an economist -- Interdependence and the gins from trade -- The market forces of supply and demand -- Elasticity and its application -- Supply a, demand and government policies -- consumers, producers, and the efficiency of markets -- Application: the cost of taxation -- Application: international trade -- Externalities -- Public goods and common resources -- The design of the tax system -- The costs of production -- Firms in competitive markets -- Monopoly -- Monopolistic competition -- Oligopoly -- The markets for the factors of production -- Earnings and discrimination -- Income inequality and poverty -- The theory of consumer choice -- Frontiers of microeconomics --