Includes bibliographical references and index.

An introduction to economics

Economics and the world of scarcity

The U.S. within the world economy

Microeconomics

Demand and supply

Consumer decision making and consumer reaction to price changes

Business firms face their costs

The two extremes: perfect competition and pure monopoly

In between the extremes: imperfect competition

Market and government failures

Labor economics

Macroeconomics

Unemployment, inflation, and the business cycle

Aggregate demand and supply

The fiscal policy approach to stabilization

Money and our banking system

The monetary policy approach to stabilization

How economies grow

International

Trading with other nations

Financing world trade