| Preface | |
| Acknowledgments | |
| Suggested One-Semester and One-Quarter Course | |
| Outlines | |
| An Introduction to Economics and the Economy | |
| The Nature and Method of Economics | p. 1 |
| The Economizing Problem | p. 19 |
| Pure Capitalism and the Circular Flow | p. 35 |
| Understanding Individual Markets: Supply and Demand | p. 47 |
| The Private Sectors and the Market System | p. 67 |
| The Public Sector | p. 88 |
| National Income, Employment, and Fiscal Policy | |
| Measuring Domestic Output, National Income, and the Price Level | p. 105 |
| Macroeconomic Instability: Unemployment and Inflation | p. 129 |
| Aggregate Demand and Aggregate Supply | p. 151 |
| Classical and Keynesian Theories of Employment | p. 171 |
| Equilibrium Domestic Output in the Keynesian Model | p. 196 |
| Fiscal Policy | p. 221 |
| Money, Banking, and Monetary Policy | |
| Money and Banking | p. 243 |
| How Banks Create Money | p. 264 |
| The Federal Reserve Banks and Monetary Policy | p. 281 |
| Problems and Controversies in Macroeconomics | |
| Alternative Views: Monetarism and Rational Expectations | p. 305 |
| The Inflation-Unemployment Relationship | p. 324 |
| Budget Deficits and the Public Debt | p. 349 |
| Economic Growth | p. 365 |
| Microeconomics of Product and Resource Markets | |
| Demand and Supply: Elasticities and Applications | p. 383 |
| Consumer Behavior and Utility Maximization | p. 402 |
| The Costs of Production | p. 418 |
| Price and Output Determination: Pure Competition | p. 438 |
| Price and Output Determination: Pure Monopoly | p. 465 |
| Price and Output Determination: Monopolistic Competition | p. 485 |
| Price and Output Determination: Oligopoly | p. 498 |
| Production and the Demand for Resources | p. 518 |
| The Pricing and Employment of Resources: Wage Determination | p. 533 |
| The Pricing and Employment of Resources: Rent, Interest, and Profits | p. 553 |
| General Equilibrium: The Market System and Its Operation | p. 567 |
| Government and Current Economic Problems | |
| Government and Market Failure: Public Goods, the Environment, and Information Problems | p. 579 |
| Public Choice Theory and Taxation | p. 599 |
| Antitrust and Regulation | p. 619 |
| Agriculture: Economics and Policy | p. 638 |
| Income Inequality and Poverty | p. 654 |
| Labor Market Issues: Unionism, Discrimination, and Immigration | p. 672 |
| International Economics and the World Economy | |
| International Trade: Comparative Advantage and Protectionism | p. 697 |
| Exchange Rates, the Balance of Payments, and Trade Deficits | p. 720 |
| Growth and the Less Developed Countries | p. 745 |
| The Soviet Economy in Transition | p. 765 |
| Glossary | p. G1 |
| Index | p. I1 |
| Table of Contents provided by Blackwell. All Rights Reserved. |