Includes index.

Contents: Introduction To Economics: The Scope and Method of Economics -- The Economic Problem: Scarcity and Choice -- Demand, Supply, and Market Equilibrium -- Demand and Supply Applications -- Elasticity -- The market system: choices made by households and firms: Household behavior and consumer choice -- The Production process: the behavior of profit-maximizing firms -- Short-run costs and output decisions -- Long-run costs and output decisions -- Input demand: The labor and land markets -- Input demand: The capital market and the investment decision -- General equilibrium and the efficiency of perfect competition -- Market Imperfections and the Role of Government: Monopoly and Antitrust Policy -- Oligopoly -- Monopolistic Competition -- Externalities, public goods, and common resources -- Uncertainty and asymmetric information -- Income distribution and poverty -- Public finance: The Economics of taxation -- Concepts and Problems in Macroeconomics: Introduction to Macroeconomics -- Measuring national output and national income -- Unemployment, Inflation, and Long-run growth -- The Core of macroeconomic theory: Aggregate Expenditure and Equilibrium Output -- The Government and fiscal policy -- The money supply and the federal reserve system -- The Determination of aggregate output, the price level, and the interest rate -- Policy effects and cost shocks in the AS/AD Model -- The labor market in the macroeconomy -- Further macroeconomics Issues: financial crises, stabilization, and deficits -- Household and firm behavior in the macroeconomy: a further Look -- Long-run growth -- Alternative views in macroeconomics -- The world economy: International trade, comparative advantage and protectionism -- Open-economy macro economics: the balance of payments and exchange rates -- Economic growth in developing and transitional economies --