Includes bibliographical references and index.

Table of contents
Chapter 1: Thinking Like an Economist
Chapter 2: Comparative Advantage
Chapter 3: Supply and Demand
Chapter 4: Elasticity
Chapter 5: Demand
Chapter 6: Perfectly Competitive Supply
Chapter 7: Efficiency, Exchange, and the Invisible Hand in Action
Chapter 8: Monopoly, Oligopoly, and Monopolistic Competition
Chapter 9: Games and Strategic Behavior
Chapter 10: An Introduction to Behavioral Economics
Chapter 11: Externalities, Property Rights, and the Environment
Chapter 12: The Economics of Information
Chapter 13: Labor Markets, Poverty, and Income Distribution
Chapter 14: Public Goods and Tax Policy
Chapter 15: International Trade and Trade Policy
Chapter 16: Macroeconomics: The Bird’s-Eye View of the Economy
Chapter 17: Measuring Economic Activity: GDP and Unemployment
Chapter 18: Measuring the Price Level and Inflation
Chapter 19: Economic Growth, Productivity, and Living Standards
Chapter 20: The Labor Market: Workers, Wages, and Unemployment
Chapter 21: Saving and Capital Formation
Chapter 22: Money, Prices, and the Federal Reserve
Chapter 23: Financial Markets and International Capital Flows
Chapter 24: Short-Term Economic Fluctuations: An Introduction
Chapter 25: Spending and Output in the Short Run
Chapter 26: Stabilizing the Economy: The Role of the Fed
Chapter 27: Aggregate Demand, Aggregate Supply, and Inflation
Chapter 28: Exchange Rates and the Open Economy

"lthough many millions of dollars are spent each year on introductory economics instruction in American colleg-es and universities, the return on this investment has been disturbingly low. Studies have shown, for example, that several months after having taken a principles of economics course, former students are no better able to answer simple economics questions than others who never even took the course. Most students, it seems, leave our introductory courses without having learned even the most important basic economic principles"--