Includes index

Contents: 1. Introduction: Thinking like an economist -- Comparative advantage -- Supply and demand -- 2. Macroeconomics: data issues: Spending, income and GDP -- Inflation and the price level -- Wages and unemployment -- 3. The Economy in the long run: Economic growth -- Saving, capital formation and the financial markets -- Money, prices and the financial system -- 4. The Economy in the short run: Short-term economic fluctuations -- Spending, output and fiscal policy -- Monetary policy and the federal reserve -- Aggregate demand, aggregate supply and business cycles -- Macroeconomic policy -- 5. The International economy: Exchange rates, international trade and capital flows --