Principles of Economics (Paperback)

**I. INTRODUCTION TO ECONOMICS.
1. The Scope and Method of Economics.
2. The Economic Problem: Scarcity and Choice.
3. Demand, Supply, and Market Equilibrium.
4. Demand and Supply Applications .
5. Elasticity

**II. FOUNDATIONS OF MICROECONOMICS: CONSUMERS AND FIRMS.
6. Household Behavior and Consumer Choice
7. The Production Process: The Behavior of Profit-Maximizing Firms.
8. Short-Run Costs and Output Decisions.
9. Long-Run Costs and Output Decisions.
10. Input Demand: The Labor and Land Markets.
11. Input Demand: The Capital Market and the Investment Decision.
12. General Equilibrium and the Efficiency of Perfect Competition

**III. MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT.
13. Monopoly and Antitrust Policy.
14. Monopolistic Competition and Oligopoly.
15. Externalities, Public Goods, Imperfect Information, and Social Choice.
16. Income Distribution and Poverty.
17. Public Finance: The Economics of Taxation.

**IV. CONCEPTS AND PROBLEMS IN MACROECONOMICS.
18. Introduction to Macroeconomics.
19. Measuring National Output and National Income.
20. Long-Run and Short-Run Concerns: Growth, Productivity, Unemployment, and Inflation.

**V. THE GOODS AND MONEY MARKETS.
21. Aggregate Expenditure and Equilibrium Output.
22. The Government and Fiscal Policy.
23. The Money Supply and the Federal Reserve System.
24. Money Demand, the Equilibrium Interest Rate, and Monetary Policy.

**VI. MACROECONOMIC ANALYSIS.
25. Money, the Interest Rate, and Output: Analysis and Policy.
26. Aggregate Demand, Aggregate Supply, and Inflation.
27. The Labor Market, Unemployment, and Inflation.
28. Macroeconomic Issues and Policy.
29. The Stock Market and the Economy.
30. Household and Firm Behavior in the Macroeconomy: A Further Look.
31. Long-Run Growth.
32. Debates in Macroeconomics: Monetarism, New Classical Theory, and Supply-Side Economics.

**VII. THE WORLD ECONOMY.
33. International Trade, Comparative Advantage, and Protectionism.
34. Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates.
35. Globalization.
36. Economic Growth in Developing and Transitional Economies.

Glossary.

Solutions to Even-Numbered Problems.

Index.