PART ONE
INTRODUCTION 1
CHAPTER 1 What Is Economics? 1
CHAPTER 2 The Economic Problem 29
PART TWO
HOW MARKETS WORK 55
CHAPTER 3 Demand and Supply 55
CHAPTER 4 Elasticity 83
CHAPTER 5 Efficiency and Equity 105
CHAPTER 6 Government Actions in Markets 127
CHAPTER 7 Global Markets in Action 151
PART THREE
HOUSEHOLDS’ CHOICES 179
CHAPTER 8 Utility and Demand 179
CHAPTER 9 Possibilities, Preferences, and
Choices
203
PART FOUR
FIRMS AND MARKETS 227
CHAPTER 10 Organizing Production 227
CHAPTER 11 Output and Costs 251
CHAPTER 12 Perfect Competition 273
CHAPTER 13 Monopoly 299
CHAPTER 14 Monopolistic Competition 323
CHAPTER 15 Oligopoly 341
PART FIVE
MARKET FAILURE AND GOVERNMENT 371
CHAPTER 16 Public Choices and Public Goods
371
CHAPTER 17 Economics of the Environment 393
PART SIX
FACTOR MARKETS, INEQUALITY,
AND UNCERTAINTY 417
CHAPTER 18 Markets for Factors of Production 417
CHAPTER 19 Economic Inequality 441
CHAPTER 20 Uncertainty
and Information 465
PART SEVEN
MONITORING MACROECONOMIC
PERFORMANCE 489
CHAPTER 21 Measuring GDP and Economic
Growth 489
CHAPTER 22 Monitoring Jobs and Inflation
513
PART EIGHT
MACROECONOMIC TRENDS 539
CHAPTER 23 Economic Growth 539
CHAPTER 24 Finance, Saving, and Investment
565
CHAPTER 25 Money, the Price Level, and
Inflation
589
CHAPTER 26 The Exchange Rate and the
Balance of
Payments 617
PART NINE
MACROECONOMIC FLUCTUATIONS 647
CHAPTER 27 Aggregate Supply and Aggregate
Demand 647
CHAPTER 28 Expenditure Multipliers: The
Keynesian
Model 671
CHAPTER 29 U.S. Inflation, Unemployment,
and
Business Cycle 701
PART TEN
MACROECONOMIC POLICY 727
CHAPTER 30 Fiscal Policy 727
CHAPTER 31 Monetary Policy 753
