Essentials of Economics

Part 1 What Is Economics?
1 First Principles
2 Economic Models: Trade-offs and Trade
Appendix: Graphs in Economics

Part 2 Supply and Demand
3 Supply and Demand
4 Price Controls and Quotas: Meddling with Markets
5 Elasticity and Taxation

Part 3 The Production Decision
6 Behind the Supply Curve: Inputs and Costs
7 Perfect Competition and the Supply Curve

Part 4 Beyond Perfect Competition
8 Monopoly
9 Oligopoly and Monopolistic Competition

Part 5 Microeconomics and Public Policy
10 Externalities and Public Goods
11 Poverty, Inequality, and the Welfare State

Part 6 Introduction to Macroeconomics
12 Macroeconomics: The Big Picture
13 GDP and the CPI: Tracking the Macroeconomy
14 Unemployment and Inflation

Part 7 Economic Growth and Fluctuations
15 Long-Run Economic Growth
16 Aggregate Demand and Aggregate Supply

Part 8 Stabilization Policy
17 Fiscal Policy
18 Money, Banking, and the Federal Reserve System
19 Monetary Policy

Part 9 The International Economy
20 International Trade, Capital Flows, and Exchange Rates

Solutions to Check Your Understanding Questions
Glossary
Index