Economics

PART I INTRODUCTION: THINKING LIKE AN ECONOMIST 
1  Economics and Economic Reasoning 4
2  The Production Possibility Model, Trade, and Globalization 24
Appendix: Graphish: The Language of Graphs 42
3   Economic Institutions 51
Appendix: The History of Economic Systems 71
4   Supply and Demand 77
5   Using Supply and Demand 100
Appendix: Algebraic Representation of Supply, Demand, and Equilibrium 116

PART II MICROECONOMICS 
I THE POWER OF TRADITIONAL ECONOMIC MODELS
6   Describing Supply and Demand: Elasticities 122
7   Taxation and Government Intervention 142
8   Market Failure versus Government Failure 162
8W   Politics and Economics: The Case of Agricultural Markets 183
II INTERNATIONAL ECONOMIC POLICY ISSUES
9   Comparative Advantage, Exchange Rates, and Globalization 184
10   International Trade Policy 203
III PRODUCTION AND COST ANALYSIS
11   Production and Cost Analysis I 224
12   Production and Cost Analysis II 243
Appendix: Isocost/Isoquant Analysis 260
IV MARKET STRUCTURE
13   Perfect Competition 265
14   Monopoly and Monopolistic Competition 285
Appendix: The Algebra of Competitive and Monopolistic Firms 310
15   Oligopoly and Antitrust Policy 312
16   Real-World Competition and Technology 331
V FACTOR MARKETS
17   Work and the Labor Market 351
Appendix: Derived Demand 375
17W   Nonwage and Asset Income: Rents, Profits, and Interest 381
18   Who Gets What? The Distribution of Income 382
VI CHOICE AND DECISION MAKING
19  The Logic of Individual Choice: The Foundation of Supply and Demand 407
Appendix: Indifference Curve Analysis 427
20     Game Theory, Strategic Decision Making, and Behavioral Economics 432
Appendix: Game Theory and Oligopoly 452
VII MODERN ECONOMIC THINKING
21  Thinking Like a Modern Economist 457
22  Behavioral Economics and Modern Economic Policy 483
23  Microeconomic Policy, Economic Reasoning, and Beyond 501

PART III MACROECONOMICS
I MACROECONOMIC BASICS
24  Economic Growth, Business Cycles, and Unemployment 522
25  Measuring and Describing the Aggregate Economy 543
II POLICY MODELS
26  The Keynesian Short-Run Policy Model: Demand-Side Policies 567
26W  The Multiplier Model 593
27  The Classical Long-Run Policy Model: Growth and Supply-Side Policies 594
III FINANCE, MONEY, AND THE ECONOMY
28 The Financial Sector and the Economy 615
Appendix: A Closer Look at Financial Assets and Liabilities 636
29  Monetary Policy 642
30  Financial Crises, Panics, and Unconventional Monetary Policy 664
IV TAXES, BUDGETS, AND FISCAL POLICY
31  Deficits and Debt: The Austerity Debate 684
32  The Fiscal Policy Dilemma 700
V MACROECONOMIC PROBLEMS
33  Jobs and Unemployment 719
34  Inflation, Deflation, and Macro Policy 737
VI INTERNATIONAL MACROECONOMIC POLICY ISSUES
35  International Financial Policy 759
Appendix: History of Exchange Rate Systems 783
36  Macro Policy in a Global Setting 786
37 Structural Stagnation and Globalization 801
Appendix: Creating a Targeted Safety Net to Help Least Well Off 823
38 Macro Policy in Developing Countries 825