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Contents

PART 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 PART II: THE MARKET SYSTEM 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 PART III: MARKET IMPERFECTIONS AND THE ROLE OF GOVERNMENT 13. Monopoly and Antitrust Policy 14. Oligopoly 15. Monopolistic Competition 16. Externalities, Public Goods, and Common Resources 17. Uncertainty and Asymmetric Information 18. Income Distribution and Poverty 19. Public Finance: The Economics of Taxation PART IV: THE WORLD ECONOMY 20. International Trade, Comparative Advantage, and Protectionism 21. Economic Growth in Developing Economies PART V: METHODOLOGY 22. Critical Thinking about Research

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