Includes index.

Contents: 1. Introduction: thinking like an economist: Economics and economic reasoning -- The production possibility model, trade and globalization -- Economic institutions -- Supply and demand -- Using supply and demand -- Thinking like a modern economist -- 2. Macroeconomics: Economic growth, business cycles, unemployment, and inflation -- measuring the aggregate economy -- Growth, productivity, and the wealth of nations -- The aggregate demand/aggregate supply model -- The multiplier model -- Thinking like a modern macroeconomist -- The financial sector and the economy -- Monetary policy -- Financial crises, panics and macroeconomic policy -- Inflation and the Phillips curve -- Deficits and debt -- The modern fiscal policy dilemma -- International trade policy, comparative advantage, and outsourcing -- International financial policy -- Macro policy in a global setting -- Macro policies in developing countries --