Table of Contents

Preface

1 Welcome to Economics!
2 Choice in a World of Scarcity
3 Demand and Supply
4 Labor and Financial Markets
5 Elasticity
6 Consumer Choices
7 Cost and Industry Structure
8 Perfect Competition
9 Monopoly
10 Monopolistic Competition and Oligopoly
11 Monopoly and Antitrust Policy
12 Environmental Protection and Negative Externalities
13 Positive Externalities and Public Goods
14 Poverty and Economic Inequality
15 Issues in Labor Markets: Unions, Discrimination, Immigration
16 Information, Risk, and Insurance
17 Financial Markets
18 Public Economy
19 The Macroeconomic Perspective
20 Economic Growth
21 Unemployment
22 Inflation
23 The International Trade and Capital Flows
24 The Aggregate Demand/Aggregate Supply Model
25 The Keynesian Perspective
26 The Neoclassical Perspective
27 Money and Banking
28 Monetary Policy and Bank Regulation
29 Exchange Rates and International Capital Flows
30 Government Budgets and Fiscal Policy
31 The Impacts of Government Borrowing
32 Macroeconomic Policy Around the World
33 International Trade
34 Globalization and Protectionism

The Use of Mathematics in Principles of Economics
Indifference Curves
Present Discounted Value
The Expenditure-Output Model