Description: Part I: INTRODUCTION.1. Ten Principles of Economics.2. Thinking Like an Economist.Appendix: Graphing: A Brief Review.3. Interdependence and the Gains from Trade.Part II: SUPPLY AND DEMAND I: HOW MARKETS WORK.4. The Market Forces of Supply and Demand.5. Elasticity and Its Application.6. Supply, Demand, and Government Policies.Part III: SUPPLY AND DEMAND II: MARKETS AND WELFARE. 7. Consumers, Producers, and the Efficiency of Markets.8. Application: The Costs of Taxation.9. Application: International Trade.Part IV: THE ECONOMICS OF PUBLIC SECTOR.10. Externalities.11. Public Goods and Common Resources.12. The Design of the Tax System.Part V: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY.13. The Costs of Production.14. Firms in Competitive Markets.15. Monopoly.16. Monopolistic Competition.17. Oligopoly.Part VI: THE ECONOMICS OF LABOR MARKETS.18. The Markets for the Factors of Production.19. Earnings and Discrimination.20. Income Inequality and Poverty.PART VII: TOPICS FOR FURTHER STUDY.21. The Theory of Consumer Choice.22. Frontiers in Microeconomics.Glossary.Index.

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