Table of Contents
Part I GETTING ACQUAINTED WITH ECONOMICS.
1 What Is Economics?
2 The Economy: Myth and Reality.
3 The Fundamental Economic Problem: Scarcity and Choice.
4 Supply and Demand: An Initial Look.
Part II THE BUILDING BLOCKS OF DEMAND AND SUPPLY.
5 Consumer Choice: Individual and Market Demand.
6 Demand and Elasticity.
7 Production, Inputs, and Cost: Building Blocks for Supply Analysis.
8 Output, Price, and Profit: The Importance of Marginal Analysis.
9 Securities, Business Finance, and the Economy: The Tail that Wags the Dog?
Part III MARKETS AND THE PRICE SYSTEM.
10 The Firm and the Industry under Perfect Competition.
12 Between Competition and Monopoly.
13 Limiting Market Power: Regulation and Antitrust.
Part IV THE VIRTUES AND LIMITATIONS OF MARKETS.
14 The Case for Free Markets: The Price System.
15 The Shortcomings of Free Markets.
16 The Market’s Prime Achievement: Innovation and Growth.
17 Externalities, the Environment, and Natural Resources.
18 Taxation and Resource Allocation.
Part V THE DISTRIBUTION OF INCOME.
19 Pricing the Factors of Production.
20 Labor and Entrepreneurship: The Human Inputs.
21 Poverty, Inequality, and Discrimination.
Part VI THE UNITED STATES IN THE WORLD ECONOMY.
22 International Trade and Comparative Advantage.