Includes bibliographical references and index.

The scope and method of economics -- The economic problem : scarcity and choice -- Demand, supply, and market equilibrium -- Demand and supply applications -- Elasticity -- Household behavior and consumer choice -- The production process : the behavior of profit-maximizing firms -- Short-run costs and output decisions -- Long-run costs and output decisions -- Input demand : the labor and land markets -- Input demand : the capital market and the investment decision -- General equilibrium and the efficiency of perfect competition -- Monopoly and antitrust policy -- Oligopoly -- Monopolistic competition -- Externalities, public goods, and social choice -- Uncertainty and asymmetric information -- Income distribution and poverty -- Public finance : the economics of taxation -- Introduction to macroeconomics -- Measuring national output and national income -- Unemployment, inflation, and long-run growth -- Aggregate expenditure and equilibrium output -- The government and fiscal policy -- The money supply and the federal reserve system -- Money demand and the equilibrium interest rate -- Aggregate demand in the goods and money markets -- Aggregate supply and the equilibrium price level -- The labor market in the macroeconomy -- Policy timing, deficit targeting, and stock market effects -- Household and firm behavior in the macroeconomy: a further look -- Long-run growth -- Debates in macroeconomics : monetarism, new classical theory, and supply-side economics -- International trade, comparative advantage, and protectionism -- Open-economy macroeconomics: the balance of payments and exchange rates -- Economic growth in developing and transitional economies.