INTRODUCTION1. Ten Principles of Economics2. Thinking Like an Economist3. Interdependence and the Gains from TradeHOW MARKETS WORK4. The Market Forces of Supply and Demand5. Elasticity and Its Application6. Supply, Demand, and Government PoliciesMARKETS AND WELFARE7. Consumers, Producers, and the Efficiency of Markets8. Applications: The Costs of Taxation9. Application: International TradeTHE ECONOMICS OF THE PUBLIC SECTOR10. Externalities11. Public Goods and Common Resources12. The Design of the Tax SystemFIRM BEHAVIOR AND THE OFGANIZATION OF INDUSTRY13. The Costs of Production14. Firms in Competitive Markets15. Monopoly16. Monopolistic Competition17. OligopolyTHE ECONOMICS OF THE LABOR MARKET18. The Markets for the Factors of Production19. Earnings and Discrimination20. Income Inequality and PovertyPart VII: TOPICS FOR FURTHER STUDY21. The Theory of Consumer Choice22. Frontiers in MicroeconomicsTHE DATA OF MACROECONOMICS23. Measuring a Nation’s Income24. Measuring the Cost of LivingPart IX: THE REAL ECONOMY IN THE LONG RUN25. Production and Growth26. Saving, Investment, and the Financial System27. Tools of Finance28. Unemployment and Its Natural RateMONEY AND PRICES IN THE LONG RUN29. The Monetary System30. Money Growth and InflationPart XI: THE MACROECONOMICS OF OPEN ECONOMICS31. Open-Economy Macroeconomics: Basic Concepts32. A Macroeconomic Theory of the Open EconomyPart XII: SHORT-RUN ECONOMIC FLUCTUATIONS33. Aggregate Demand and Aggregate Supply34. The Influence of Monetary and Fiscal Policy on Aggregate Demand35. The Short-Run Tradeoff between Inflation and UnemploymentPart XIII: FINAL THOUGHTS36. Six Debates over Macroeconomic Policy