Includes index.

Contents: 1. Introduction: Ten principles of economics -- Thinking like an economist -- Interdependence and the gains from trade -- 2. How markets work : The market forces of supply and demand -- Elasticity and its application -- Supply, demand and government policies -- 3. Markets and welfare: Consumers, producers and the efficiency of markets -- Application: the costs of taxation -- Application: the international trade -- 4. The Economics of the public sector: Externalities -- Public goods and common resources -- The Design of the tax system -- 5. Firm behavior and the organization of industry : The Costs of production -- Firms in competitive markets -- Monopoly -- Monopolistic competition -- Oligopoly -- 6. The Economics of labor markets: The Markets for the factors of production -- Earnings and discrimination -- Income inequality and poverty -- 7. Topics for further study: The Theory of consumer choice -- Frontiers of microeconomics -- 8. The Data of macroeconomics: Measuring a nation's income -- Measuring the cost of living -- 9. The Real economy in the long run: Production and growth -- Saving, investment and the financial system -- The Basic tools of finance -- Unemployment -- 10. Money and prices in the long run: The Monetary system -- Money growth and inflation -- 11. The Macroeconomics of open economies: Open-economy macroeconomics: basic concepts -- A Macroeconomic theory of the open economy -- 12. Short-run economic fluctuations: Aggregate demand and aggregate supply -- The Influence of monetary and fiscal policy on aggregate demand -- The Short-run trade-off between inflation and unemployment -- 13. Final thoughts: Six debates over macroeconomic policy --