Includes glossary and index.

Contents: Part one: Introduction to economics and the economy: Limits, alternatives, and choices -- The market system and the circular flow -- Part two: Price, quantity and efficiency: Demand, supply and market equilibrium -- Elasticity -- Market failures: public goods and externalities -- Part three: Microeconomics of product markets: Consumer behavior -- Behavioral economics -- Business and costs of production -- Pure competition in the short run -- Pure competition in the long run -- Monopolistic competition and oligopoly -- Part four: Microeconomics of product markets: the demand for resources -- Wage determination -- Rent, interest and profit -- Part five: Microeconomics of government: Public finance: expenditures and taxes -- Asymmetric information, voting and public choice -- Part six: Microeconomics issues and policies: Antitrust policy and regulation -- Agriculture: economics and policy-- Income inequality, poverty, and discrimination -- Health care -- Immigration -- Part seven: GDP, growth, and instability: An introduction to macroeconomics -- Measuring domestic output and national income -- Economic growth -- Business cycles, unemployment, and inflation -- Part eight: Macroeconomic models and fiscal policy: Basic macroeconomic relationships -- The aggregate expenditures model -- Aggregate demand and aggregate supply -- Fiscal policy, deficits, and debt -- Part nine: Money, banking, and monetary policy: Money, banking, and financial institutions-- Money creation -- Interest rates and monetary policy -- Financial economics -- Part ten: Extensions and issues: Extending the analysis of aggregate supply -- Current issues in macro theory and policy -- Part eleven: International economics: International trade -- The balance of payments, exchange rates, and trade deficits -- The economics of developing countries --