| Preliminary | |
| Note: Each chapter ends with a Conclusion, Key Points, Key Terms, Questions for Review, and Problems | |
| Introduction to Economics | |
| The Central Idea Scarcity and Choice for Individuals Scarcity and Choice for the Economy as a Whole Market Economies and The Price System Economics in Action: Gains from Trade on the Internet Economics in Action: Teaching Jobs and Graduate School Applications--Two Sides of the Same Coin Reading the News About: Gains from Trade on the Radio | |
| Observing and Explaining the Economy Case Study: Health-Care Spending in America Economic Models The Impact of Economics on Public Policy Economics in Action: Science or Persuasion? Appendix to Chapter 2 Reading, Understanding, and Creating Graphs Visualizing Observations with Graphs Visualizing Models with Graphs | |
| The Supply and Demand Model Demand Supply Market Equilibrium: Combining Supply and Demand Case Study: Using the Supply and Demand Model Interference with Market Prices Elasticity of Demand and Supply Reading the News About: Supply and Demand in the Marketplace Economics in Action: What Do Price Ceilings on ATMs Do? | |
| Elasticity and Its Uses Case Study: Why the Size of the Elasticity of Demand is Important Working with Demand Elasticities Working with Supply Elasticities Economics in Action: Predicting the Size of a Price Increase Economics in Action: Creating and Advancing Elasticity | |
| Principles of Microeconomics | |
| The Demand Curve and the Behavior of Consumers Utility and Consumer Preferences The Budget Constraint and Utility Maximization Willingness to Pay and the Demand Curve The Market Demand Curve Economics in Action: The Demand Curve for Children Economics in Action: Building Roads and Bridges with Consumer Surplus Appendix to Chapter 5 Consumer Theory with Indifference Curves The Budget Line The Indifference Curve | |
| The Supply Curve and the Behavior of Firms Case Study: Your Own Firm The Firm's Profits Profit Maximization and the Individual Firm's Supply Curve The Market Supply Curve Producer Surplus Economics in Action: Green Pricing and Incentives | |
| The Interaction of People in Markets Individual Consumers and Firms in a Market Case Study: A Double-Auction Market Are Competitive Markets Efficient? Measuring Waste from Inefficiency Case Study: Price Controls and Deadweight Loss in the Milk Industry The Deadweight Loss From Taxation Reading the News About: Ticket Scalping Economics in Action: Tax Prediction Passes Economists' Test | |
| The Economics of the Firm | |
| Costs and the Changes at Firms Over Time Case Study: Finding Average Cost at an Individual Firm Average Cost Curves Costs and Production: The Short Run Costs and Production: The Long Run Economies of Scale Economics in Action: Economist Finds Economies of Scale at Pin Factory Appendix to Chapter 8 Producer Theory with Isoquants Combining of Capital and Labor Minimizing Costs for a Given Quantity | |
| The Rise and Fall of Industries The Long-Run Competitive Equilibrium Model of an Industry Case Study: How Does the Model Explain the Facts? Minimum Costs per Unit and the Efficient Allocation of Capital External Economies and Diseconomies of Scale Economics in Action: Digital Cameras and the Future of Film | |
| Monopoly A Model of Monopoly The Generic Diagram of a Monopoly and Its Profits Competition, Monopoly, and Deadweight Loss Why Monopolies Exist Price Discrimination Reading the News About: Monopoly | |
| Product Differentiation, Monopolistic Competition, and Oligopoly Product Differentiation Monopolistic Competition Oligopoly Economics in Action: What's the Future of Product Differentiation? Reading the News About: Defection from a Cartel | |
| Antitrust Policy and Regulation Antitrust Policy Regulating Natural Monopolies To Regulate or Not to Regulate Reading the News About: Proposed Mergers | |
| Markets, Income Distribution, and Public Goods | |
| Labor Markets Case Study: The Recent Wage Boom Labor Demand Labor Supply Explaining Wage Differences Wage Payments and Incentives Labor Unions Reading the News About: Incentives to Work Economics in Action: Does Productivity or Compensating Differentials Explain the Academic Wage Gap? | |
| Taxes, Transfers, and Income Distribution The Tax System Transfer Payments The Distribution of Income in the United States Economics in Action: The Impact of the Marriage Tax Reading the News About: The Impact of the Welfare Reform Act Economics in Action: Income Distribution Around the World | |
| Public Goods, Externalities, and Government Behavior Public Goods Cost-Benefit Analysis Externalities: From the Environment to Education Remedies for Externalities Models of Government Behavior Better Government Through Market-Based Incentives Economics in Action: Externalities from Biodiversity Economics in Action: Advising the Government to Auction Off the Spectrum | |
| Physical Capital and Financial Markets Capital Market Terminology Markets for Physical Capital Stock and Bond Markets Risk versus Return The Foreign Exchange Market Reading the News About: Stocks Reading the News About: Bond Prices Reading the News About: Stock Price Plunges Reading the News About: Foreign Exchange Markets Appendix to Chapter 16 Present Discounted Value Discounting the Future Finding the Present Discounted Value | |
| Principles of Macroeconomics | |
| Macroeconomics: The Big Picture Real GDP over Time Unemployment, Inflation, and Interest Rates Macroeconomic Theory and Policy Economics in Action: The Economic Impact of September 11 Appendix to Chapter 17 The Miracle of Compound Growth How Compound Growth Works Plotting Growing Variables | |
| Measuring the Production, Income, and Spending of Nations Measuring GDP Savings Measuring Real GDP Shortcomings of the GDP Measure Other Measures of Well-Being Economics in Action: Distinguishing Between Stocks and Flows Reading the News About: GDP Each Month | |
| The Spending Allocation Model The Spending Shares The Effect of Interest Rates on Spending Shares Determining the Equilibrium Interest Rate Case Study: Shifts in Government Purchases and Consumption The National Saving Rate | |
| Unemployment and Employment Unemployment and Other Labor Market Indicators The Nature of Unemployment Explaining Unemployment and Employment Trends Case Study: Unemployment Among Young People Around the World Reading the News About: Unemployment Each Month | |
| Productivity and Economic Growth Labor and Capital Without Technology Technology: the Engine of Growth Measuring Technology Case Study: Growth Accounting in Practice Technology Policy Economics in Action: A Formula Goes to Washington Reading the News About: The Productivity Growth Rebound Appendix to Chapter 21 Deriving the Growth Accounting Formula | |
| Money and Inflation What Is Money? The Fed, the Banks, and the Link from Reserves to Deposits How the Fed Controls the Money Supply: Currency plus Deposits Money Growth and Inflation Economics in Action: The Second (?) Most Powerful Man in America: Alan Greenspan | |
| Economic Fluctuations and Macroeconomic Policy | |
| The Nature and Causes of Economic Fluctuations Changes in Aggregate Demand Lead to Changes in Production Forec | |
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