Foreword

What is Economic Theory?

Thinking like Economists

The Forces of the Market: Supply and Demand

Demand Fundamentals: Consumer Choices

Supply Fundamentals: The Production Costs of the Firm

Supply Fundamentals: Firms in Competitive Markets

Consumers, Producers, and Market Efficiency

Supply, Demand, and Government Policies

Public Goods, Common Resources, and Merit Goods

Market Failure and Externalities

Market Structures I: Monopoly

Market Structures II: Monopolistic Competition

Market Structures III: Oligopoly

Market Structures IV: Contestable Markets

The Economics of Factor Markets

Income Inequality and Poverty

Interdependence and the Gains from Trade

Economics of Information & Behavioral Economics

Heterodox Theories in Economics

The Measurement of National Welfare and the Price Level

Production and Growth

Unemployment and the Labor Market

Saving, Investment, and the Financial System

The Monetary System

Macroeconomics of an Open Economy

Economic Cycles

Keynesian Economic Theory and IS-LM Analysis

Aggregate Demand and Aggregate Supply

The Effect of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Trade-Off Between Inflation and Unemployment

Supply-Side Economic Policies

Economic Disturbances

The European Union

Economics of Sustainability

Glossary

Index of Terms

Mathematical Formulas