Preface
PART 1: Introduction
1 Thinking Like an Economist
Appendix A: Working with Equations, Graphs and Tables
Appendix B: Elements of Calculus for use in Economics
2 Comparative Advantage: The Basis for Exchange
3 Supply and Demand: An Introduction
PART 2: Competition and the Invisible Hand
4 Elasticity
5 Demand: The Benefit Side of the Market
6 Perfectly Competitive Supply: The Cost Side of the Market
Appendix: Supply
7 Efficiency and Exchange
8 The Quest for Profit and the Invisible Hand
PART 3: Market Imperfections
9 Imperfect Competition and Consequences of Market Power
10 Thinking Strategically: Competition among the Few
11 Externalities and Property Rights: External Costs and Benefits
12 The Economics of Information
PART 4: Government in the Economy: Distribution, Regulation and the Provision of Public Goods
13 Labour Markets, Income Distribution, Wealth and Poverty
14 Government in the Market Economy: Regulation and Production of Public Goods and Other Services
PART 5: Trade and Integration
16 Trade, Factor Flows and Economic Integration: The Basic Economics of the European Union
PART 6: Macroeconomics: Issues and Data
17 Macroeconomics: The Bird's-Eye View of the Economy
18 Measuring Economic Activity: GDP and Unemployment
19 Measuring the Price Level and Inflation
PART 7: The Economy in the Long Run
20 Economic Growth, Productivity, and Living Standards
21 Workers, Wages, and Unemployment in the Modern Economy
22 Saving and Capital Formation
23 Money, Prices, and the European Central Bank
24 Financial Markets and International Capital Flows
PART 8: The Economy in the Short Run
25 Short-Term Economic Fluctuations
Appendix: The Multiplier in the Basic Keynesian Model
26 Stabilising the Economy: The Role of Fiscal Policy
27 Stabilizing the Economy: The Role of Monetary Policy
Appendix: Monetary Policy in the Basic Keynesian Model
28 Inflation and Aggregate Supply
Appendix: The Algebra of Aggregate Demand and Aggregate Supply
PART 9: The International Economy
29 Exchange Rates and the Open Economy
30 Monetary Union: The Theory of Optimum Currency Areas